NEW KISAN VIKAS PATRA (KVP) - CAN WE INVEST IN THIS?
This is one of the best investment Schemes in Post Office . Govt of India has introduced this Scheme on 18 Nov 2014. These new KVP comes with 8.7% interest rates. It was very popular small savings instruments earlier. These were already launched in the year 1988 as a part of Small Savings Schemes . When it we was launched it has a maturity period of 5.5 years and your money was getting doubled by maturity. Some main features of this Schemes are as follows:-
1. Kisan Vikas Patra offers interest rate of 8.7%per annum.
2. Investors would not get any tax benefit like you get in PPF.
3. There is no upper limit of investment in KVP.
4. You can pledge these KVP as security at any bank to avail loans.
5. You can encash these KVPs after the lock in period of 2 years and 6
months thereafter you can draw within any block of 6 months.
6. Nomination facility available.
7. Currently these are available through Post Offices. But soon these will be sold by Nationalized banks also.
8. Maturity Period is 8 Years and 4 Months ( ie. 100 months )
From. WO Rakesh Swarnkar
Army Postal Service
Mob. 08119806639
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