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Kisan Vikas Patra Easy Way to Save Money

The scheme of Kisan Vikas Patra was announced by the Government of India in the beneficial of the Farmers of India. As per the name of the saving scheme suggests it is only for the community of farmers. This scheme helps in the funds that can be mobilized for the Kisan’s.

This saving scheme was implemented by the Indian Government to any adult who is citizen of India and the locking period of this scheme is for eight years and seven months. These bonds are sold by Government of India in the post offices all over India. The minimum time in which the bond can be broke is two and half years from the date they have been issued and the interest on these bonds will dispersed for this period only. This investment in Kisan Vikas Patra is considered to be one of the safest ways of investing the money and getting certain returns in the invested money.

The forms for Kisan Vikas Patra are available in the post office all over the country and can be obtained using cash or demand draft. The minimum amount of investment to be made is of Rupees 100 and there is no maximum limit for investment and it is not facilitate from the tax rebate. These bonds are available in the values of Rs. 100, Rs. 500, Rs. 1000, Rs. 5000, Rs. 10000 and Rs. 50000. The application of getting these bonds requires the photographer of the investor along with his or her name, bonds maturity date, bonds issue date, the amount to be received on its maturity.

The investment in Kisan Vikas Patra is doubled in the period of eight years and seven months and interest rate of 8.41 percent per annum that is compounded half yearly is incurred on these bonds. The return of Kisan Vikas Patra is more than that returned through Fixed Deposit Scheme. The maturity amount can again be reinvested in the same scheme.

The scheme was stopped for the new investors by the government of India since 1st December 2011 while old investors are still eligible for the benefits they had been promised. The investment made through the scheme of Kisan Vikas Patra was always safe since even the government of India would have back off the scheme still the returns of the old investors was assured. There was no risk associated in the investment of this scheme.

The scheme can be purchased in the name of self or in name of minors.

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