Post Office Schemes: Kisan Vikas Patra, NSE, and other post office schemes to double your money, here’s how


To meet the various needs of various investors, Indian Post provides a variety of investment alternatives. All Post Office Savings Plans offer returns since the Indian government supports them. Additionally, the majority of post office investment plans fall under Section 80C, which allows for a tax exemption of up to Rs. 1,50,000. 

The post office schemes are capable of doubling the investor’s money because of their long-term benefits. These schemes can be availed by visiting post office branches in India. There are various small-savings programs that the Post Office offers, including the Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), National Savings Certificate (NSC), Kisan Vikas Patra, Post Office Monthly Income Scheme, Senior Citizen Savings Scheme (SCSS), and others. When money is invested in the Post Office Monthly Income Scheme, National Savings Certificate (NSC), or Kisan Vikas Patra (KVP) during a certain quarter, the rate is locked in for the duration of the savings plan. The updated rate will be effective for Sukanya Samriddhi Yojana in the relevant quarter, nevertheless, and so on.

Kisan Vikas Patra Scheme

This scheme doubles the investor’s money in 10 years and three months at an interest rate of 7.5% annually. The minimum investment is Rs 10,000 and people above 18 years can invest under this scheme. The amount invested under this scheme is doubled after every 115 months. Single and joint accounts can be opened by the investors. Under the KVP scheme, parents can also open an investment account in the name of their children. Nominees can also be selected by the investors.

National Savings Certificate

The NSC takes five years to mature. 7.7% annual compounded half-yearly, payable at maturity, is the NSC interest rate. This means that after five years, your investment of Rs. 100,000 will be worth Rs. 1,44,903. With a minimum investment of Rs. 1000, there is no maximum investment amount. Investments are available in quantities of 100, 500, 1,000, 5,000, and 10,000 rupees.

Sukanya Samriddhi Account Scheme

A program called Sukanya Samriddhi Yojana (SSY) was created to help girls. It now provides a tempting interest rate of 8% yearly compounded. A financial year’s worth of investments can be made for as little as Rs. 1000 or as much as Rs. 1,50,000. After the account is opened, you have 15 years to invest at least the required amount each year. After then, the account will keep earning interest until it matures. Only a girl kid can have a Sukanya Samriddhi account opened in her name by her parents or other legal guardians. The girl must be 10 years old or younger when the account is opened.

Post Office Fixed Deposit Scheme

The rate of interest offered under this scheme is 6.7% for five years and the investors need to renew it after five years. A depositor who makes a deposit of Rs 2 lakhs for a period of five years will receive Rs. 2,67,000 at maturity. Investors who deposit the maturity amount a second time for five years will receive Rs 3,56,445 after the next five years.

Post Office Monthly Income Scheme

The current interest rate for this plan is 7.4% per year, payable monthly, with a 5-year maturity. Under the Monthly Income Scheme of the Post Office, the minimum investment amount is Rs. 1000, and the maximum investment limit is Rs 9 lakhs for a single holding account and Rs 15 lakhs for joint accounts.

Senior Citizens Savings Scheme

The Senior Citizen Savings Scheme (SCSS) requires a minimum entry age of 60 years old. Within a month of receiving retirement benefits, a person who has elected to retire voluntarily after turning 55 can also start this account. In these situations, the amount invested shouldn’t be greater than the corpus value obtained at retirement. Currently, there is an annual interest rate of 8.2%, which is due on the first working day of each quarter. The deposit has a five-year maturity period. For example, if you put Rs 15 lakhs in this plan now, you will earn Rs 30,750 in interest each quarter. 

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