Post Office Scheme: The post office runs many types of savings schemes for its customers. While banks have cut FD interest rates after the Reserve Bank of India reduced the repo rate, the post office has not cut the interest rates of any of its schemes.

A special scheme of the post office is Kisan Vikas Patra (KVP), in which your money doubles directly in a fixed period. This is a safe and attractive option for those who want to double their investment.

7.5 percent interest is being given on the KVP scheme-

Kisan Vikas Patra (KVP) is a safe savings scheme of the Government of India, which doubles your investment directly. This is a lump sum investment scheme, in which you can deposit any amount from a minimum of Rs 1000 to a maximum. Currently, an attractive annual interest of 7.5% is being given to it. Whether you invest Rs 1 lakh or Rs 1 crore, your money doubles in it, making it an attractive investment option.

The scheme matures in 9 years and 7 months-

This scheme of the post office matures in 115 months i.e. 9 years and 7 months. That is, your money deposited in this scheme doubles in 115 months. This is a fixed return scheme and it gives a fixed return with a full guarantee. In this scheme, along with a single account, a joint account can also be opened. Names of a maximum of 3 people can be added to a joint account. This is a post office scheme and the post office is operated by the central government, which simply means that your money invested in this scheme is completely safe.

Disclaimer: This content has been sourced and edited from Hr Breaking. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.