Kisan Vikas Patra Yojana 2020: Kisan Vikas Patra, Interest Rate, Calculator, Tax Benefits
Kisan Vikas Patra is one type of saving scheme for the government. However, this scheme is launched by the government of India. The government wants the people of the nation to make the saving through the scheme.
The central government will have to make the scheme for the people of the state. The government makes this scheme for the citizens of the state. As the name of the scheme shows that this scheme would be for the farmers of the state only.
But many citizens can apply for this scheme. Not only farmers of the nation, but any citizens of the country can take the benefits of the Kishan Vikas Patra.
The government has assured the investor to double the investment of there through this scheme. The government has given the facilities to make the investment ton the Kishan Vikas Patra, and after a specified duration, the government will make the investment double.
To know about doubling the money, all the citizens want to make the investments in the scheme. But before the investment, the person should know more about the scheme and should know about how the investment occurs in the scheme.
In this article, we will give you the information about what this scheme is and how you can make the investment in the scheme.
Kishan Viakas Patra Yojana 2020:
The saving plan of the government to the citizen of the nation is named the Kishan Vikas Patra scheme. Through this scheme, the government wants to take some investment from the citizens of the nation.
The government has published the guidelines of the scheme. Before investing in the scheme, it is advisable to read the guidelines of the scheme and get all the information about the scheme.
The government has published the guidelines and eligibility criteria of the scheme. The government said that if you are investing in the Kishan Vikas Patra, then the government will give you a double investment of yours in the ten years four months. That means the investor has to invest their money for the 124 months.
The objective of the Kisan Vikas Patra Yojana:
The government has allowed the people of the state that they can invest their money in the scheme. The government will have to give the double investment of the people after the ending of the 124 months.
The 124 months means ten years and four months of the years. The government has included the one positive point in the scheme that the government has not set the maximum limits in the investment.
That means the people can invest as much as they can. However, people should make sure that their money will be blocked for the next ten years and four months. However, the government has made the minimum limit of the investment.
Under the scheme, the government makes an Rs.1000 lower limit for the investment of the money. If you want to invest more than Rs.50,000, then you have to give you PAN (Permanent Account Details) Details to the government.
However, the government will provide interest on your investment. The current rate of interest of the Kishan Vikas Patra is about 6.9%.
When you get your double money back, then you will receive the interest rate of 6.9% also. The person can take their money back before the maturing date. If the person can do the same, then the interest rate will not be given to them.
However, the person withdraws their money after one year, then the interest rate will be given to them, but before one year of withdrawal, the government will provide the interest amount to the person.
Benefits of the Kisan Vikas Patra Yojana:
- With the help of the scheme,e the investor can double their investment in just ten years and four months of time.
- The minimum amount of investment is Rs.1000
- The details of the PAN card should have to give if the investor wants to invest more than 50,000.
- You can take your Kishan Vikas Patra from any bank and post office in the areas.