Kisan Vikas Patra : Interest Rate Increase in This Post Office Scheme From January 2023

Arpa Times January 3, 2023

Kisan Vikas Patra : The Central Government has increased the interest rates of some Small Saving Schemes for the quarter from January to March. It also includes such a scheme of the Post Office, which is very popular among the people. The name of this post office scheme is Kisan Vikas Patra. The government has increased the rate of interest on investment in Kisan Vikas Patra. If you are planning to invest in the new year, then you can invest in this post office scheme.

Kisan Vikas Patra : New Interest Rate

Generally investing in post office is considered safe. Because of this, a large number of people invest in post office schemes. Kisan Vikas Patra is also very popular for doubling the money. People also invest in it to double the amount. The government has increased the interest rates of Kisan Vikas Patra, due to which the interest rate has increased from 7.0 percent to 7.2 percent now.

Scheme will Mature in 10 Years

Investors used to get 7 per cent interest on investment for the first 123 months. But from January 1, 2022, they will get interest at the rate of 7.2 percent on investment for 120 months. That is, the scheme will now mature in 10 years. Now if you invest in this scheme, you will get returns from the new interest rate.

Kisan Vikas Patra : Remember This

The new changes have come into effect from January 1, 2022. Anyone can open an account under this scheme by investing 1000 rupees. The maximum investment limit is not fixed. Any Indian citizen of the age of 18 or above can buy this scheme. You can start investing in this scheme by visiting your nearest post office. You can go to any post office across the country and open an account under this scheme. If someone returns this scheme within one year of taking it, then he does not get any kind of benefit.

Kisan Vikas Patra : How to Open Account

In this post office scheme, any adult account can open on behalf of a minor below the age of 10 years. As soon as the age of the minor is 10 years, the account is transfer in his name. You have to go to the post office to open the account. After this the application will have to fill along with the deposit receipt and then the investment amount will have to deposit in cash, check or demand draft. Also attach your identity card with the application. After submitting the application and money, you will get the certificate of this scheme.