Post Office: This scheme of Post Office will give you huge income, you can start by investing only Rs 1000..

There are many small savings schemes in the post office. You can start investing even with a small amount. There is one such special scheme in which the money is doubled. Yes, we are talking about the post office scheme Kisan Vikas Patra. This is a scheme in which your money can be doubled. Since this is a small savings scheme of the Government of India, it is also considered very safe. Currently, 7.5 percent annual interest is being offered on investment in this scheme.

Who can open a KVP account
According to the official website of the post office, a single adult can open an account to invest in this scheme. If you want, up to three people can open a joint account. Not only this, a guardian on behalf of a minor or a person of unsound mind and a minor above 10 years of age can also open a post office Kisan Vikas Patra account in his own name.

Start investing with at least Rs 1000
Investment in the Kisan Vikas Patra Scheme can be started with a minimum of Rs 1000. You can invest any amount in multiples of 100. There is no maximum limit to this. Any number of accounts can be opened under this scheme. The deposits will mature at the maturity period prescribed by the Ministry of Finance from time to time, which is applicable on the date of deposit. In this scheme, the investment amount doubles in 115 months (9 years and 7 months).

Account will be closed only before maturity
According to the official website, the Kisan Vikas Patra account can be closed before maturity only under certain circumstances. A single account or joint account can be closed on the death of any one or all the account holders. Further, it can be closed by the mortgagee being a Gazetted Officer upon seizure or when there is a court order. This account can be closed after 2 years and 6 months from the date of deposit.

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