Which Scheme has been Reinforced by The Indian Government?
Kisan Vikas Yojna also known as Kisan Vikas Patra yojana
Kisan Vikas Patra Yojna earlier launched in 1988 by the India Post. Government of India closed this scheme in 2011. Kisan Vikas Patra Yojna has been relaunched by Government of India on 18th November 2014. This scheme is very popular among the lower and middle-income group.
Some Feature of Kisan Vikas Patra Yojana:
- Safe way of Investment
- Compound Annual Interest Rate is 8.67%
- Invest amount will be doubled in 100 months (8 years and 4 months)
- You can purchase the Vikas Patra from a post office.
- The KVP available in the denomination of Rs.1000, Rs. 5000, Rs.10000 and Rs.50,000
- Only Individual can by the KVP, can invest on behalf of a minor too, can be bought on joint names
- You can easily transfer KVP from one post office to another post office in India.