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Home Personal Finance Post Office Scheme: 10 lakh will become 20,00000 in this scheme of...

Post Office Scheme: 10 lakh will become 20,00000 in this scheme of Post Office, know how

Post Office Special Schemes: You can earn huge income in 5 years by investing in these post office schemes, check the interest rate

New Delhi Post Office Scheme: If you are going to invest in a scheme and find out that the money will be doubled. In such a situation, there will be no limit to your happiness. Actually the post office is giving you double the returns. If you invest accordingly, you will become a millionaire.

Actually, we are talking about the KVP scheme of the post office, in this scheme an investment of Rs 10 lakh has to be made only for 115 months. After this, you get a direct return of Rs 20 lakh. The special thing about this scheme is that all the money remains safe in it.

There is no need to worry about your money in Post Office Saving Scheme. If you expect double returns then you can invest. We can know about this scheme in detail here.

According to the official website of the post office, any citizen can open an account for the KVP scheme. Not only this, three people get the option to open it together. Apart from this, account can also be opened for any minor. If any minor is of 10 years of age, he can open a KVP account on his own.

However, 7.5 percent annual interest is being given on KVP scheme. Let us tell you that you can invest a minimum of Rs 1000 in this scheme and can also make multiples of Rs 100. Not only this, under this scheme you can open as many accounts as you want and invest money. The deposited amount matures within the stipulated time. Under this scheme the amount doubles in 115 months or 9 years.

Some conditions have been fixed in the KVP scheme. Under this, you can close the account before maturity. When any or all the account holders in single account and joint account die. Apart from this, the account can be closed on the orders of the court.

According to the official website, this account can be closed exclusively after 2 years and 6 months from the date of deposit. This account can be transferred from one person to another person’s name subject to certain conditions.

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