Post Office Scheme: The way stock market has been volatile in the last three months, investors have understood the importance of a diversified portfolio to earn more money. They have also understood the value of government-backed small saving schemes that give assured return with zero risk factor involved. Kisan Vikas Patra among various Post Office Schemes is one such scheme. This scheme offers secure returns to the investor.
Currently, an investor will get 6.9 per cent per annum compound interest on Kisan Vikas patra investment. If we apply the Rule 72 Calculator, one’s investment in Post Office Kisan Vikas Patra scheme will get doubled in 10.39 years. Even the government says that in Kisan Vikas Patra, one’s investment will get doubled in 124 months. In January to March 2020 quarter, when the Kisan Vikas Patra interest rate was 7.6 per cent, it used to take 113 months to double one’s money but even after a cut in interest rate, this investment tool is still lucrative for…
