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FD Interest Rates; Invest In Post Office Kisan Vikas Patra Or National Saving Certificate Scheme

In many post office schemes, you are getting more interest than Fixed Deposit (FD). These schemes also include Kisan Vikas Patra and National Saving Certificate. In these, you can save tax on investments up to Rs 1.5 lakh under 80C. The country’s largest bank is offering a maximum interest of 5.4% on SBI fixed deposits. Today we are telling you about both these schemes.


Kisan Vikas Patra

Currently, 6.9% interest is being received in the Kisan Vikas Patra (KVP) savings scheme.

There is no maximum limit to invest in KVP. However, your minimum investment should be 1000 rupees.

A joint account can also be opened in the name of a minor and in the name of 3 adults.

Minors may also be included in the scheme, but it will have to be handled by their parents.

It has a lock-in period of two and a half years.

Under this, tax is exempt under Section 80C on the amount deposited. Click here for more information

National saving certificate

6.8% annual interest on investment in Post Office National Saving Certificate (NSC).

In this, the interest is calculated on an annual basis, but the amount of interest is given only after the completion of the investment period.

To open an NSC account, you will have to invest a minimum of 1000 rupees.

A joint account can also be opened in the name of a minor and in the name of 3 adults.

Its maturity period is 5 years. You cannot exit the scheme before this.

Tax is exempt under Section 80C on the amount deposited in the National Savings Certificate Scheme.

You can invest any amount in NSC. There is no maximum investment limit. Click here for more information related to this scheme.

Where will your money quickly double when you invest?

Kisan Vikas Patra is

getting 6.9% interest in it. According to the rule of 72, if you invest money in this scheme, it will take about 10 years and 4 months for the money to double.

National Savings Certificate is

getting 6.8% interest in it. According to the rule of 72, if you invest money in this scheme, then it will take 10 years and 7 months for the money to double.

What is the rule of 72?

Experts consider this to be the most accurate rule, which determines how many days your investment will double. You can think of it as such that if you have selected a special scheme of the bank, where you are getting annual interest, then you have to divide 8 in 72 under Rule 72. That is, 72/8 = 9 years, i.e. under this scheme your money will double in 9 years.

Note: The post office periodically reviews the interest rates.

Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ informalnewz@gmail.com
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