Invest in this one double / post office scheme, instead of 50 thousand you will get 1 lakh rupees
Investing in a post office is considered to be the safest. You can double your hard earned money by investing in Kisan Vikas Patra in a government run post. Under this scheme of post office, the government guarantees to double the amount deposited.
If you are also planning to invest in the long term, you can invest in this scheme. In fact, under this scheme, the money is guaranteed to be doubled in 124 months at present.
The government has fixed the interest rate at 6.9 per cent till September 30, 2021. How long the money will double depends on the interest. With an interest rate of 6.9 per cent at present, the customer is guaranteed to double the money in about 10 years.
Conditions for investing in this scheme
The scheme offers certificates up to Rs.1000, Rs.5000, Rs.10,000 and Rs.50,000. There is no maximum deposit limit. This facility is available in joint account in addition to single account. Must be at least 18 years old to invest. And the investor must be an Indian citizen.
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