Hey Friend,
Before computing the Kisan Vikas Patra interest rate
, let us understand that
a minimum payment of Rs. 1000 is required to purchase a Kisan Vikas Patra certificate online. The investment made to buy the certificate will have doubled after 100 months, or 8 years and 4 months.
Calculate your EMI on a home loan with the help of the NoBroker EMI calculator. With NoBroker's house loan services, you may get a stress-free home loan disbursement.The programme was launched in 1988. However, the Indian government set up a commission, led by Shayamla Gopinath, that recommended the KVP may be misused. This advice led to the closure of Kisan Vikas Patra in 2011. The new administration, which opted to restore this initiative, reopened KVP in 2014.
When thinking about how to purchase Kisan Vikas Patra online? I'd like to draw attention to the fact that there are three distinct ways to get a KVP certificate:
on behalf of an adult,
on behalf of a child,
through a trust, or by two people purchasing the certificate jointly.
The KVP certificate is sold by each Departmental Post Office. The KVP certificate may also be cashed early after the lock-in period of 2.5 years from the original issue date.
What is the rate of interest on Kisan Vikas Patra?
With effect from FY 2022–22, the interest rate for Kisan Vikas Patra (KVP) is calculated at a rate of 6.9% annually for the duration of the period. I hope this clarifies your query, what is the interest rate of Kisan Vikas Patra. The primary investment doubles upon maturity if the term is 100 months, or 8 years and 4 months. Using the example above, if you invested Rs. 20,000 and obtained a KVP certificate, you would be eligible to receive Rs. 40,000 at maturity, net of tax deductions (TDS).
This is the perfect investment product because it not only keeps your money safe for the duration of the term but also offers appealing returns at the end of it. Kisan Vikas Patra can help if you have a long-term commitment like paying for your children's education, purchasing a home, or any other need that necessitates a significant quantity of financial resources.
Your money is invested in welfare and infrastructure initiatives since it is a government service.
I would like to conclude here about the Kisan Vikas Patra interest rate. I hope this helps:)
Read More:
How to buy Kisan Vikas Patra online? Is KVP taxable? What are the Postal Fixed Deposit Interest Rates?Your Feedback Matters! How was this Answer?
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Authors Of The Question
What is the Interest Rate of Kisan Vikas Patra?
Diya
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1 Answers
2 Year
2022-08-22T19:30:26+00:00 2022-08-22T19:30:27+00:00Comment
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