KVP post office scheme: From interest rate to tax implications, learn all about a savings scheme that doubles money in 120 months
Post office KVP 2023: Kisan Vikas Patra, a government-backed savings scheme, doubles the money invested over a period of 10 years? A KVP account, set up in a post office or select branches of PSU banks such as SBI and PNB, requires minimum investment of Rs 1,000 with no upper limit, and offers interest of 7.2 per cent compounded annually, according to the India Post website, indiapost.gov.in. The amount of money parked in this government-backed savings scheme doubles in 120 months, according to India Post.
Post office KVP 2023: The amount of money invested in a Kisan Vikas Patra account in the post office doubles over a period of 10 years. | Image: Reuters