Double Your Money In Nine Years

Kisan Vikas Patra ( KVP) is a small savings instrument from the Indian Post Office that promises to double your investment in nine years and four months i.e. 112 months. So, if you have invested Rs50,000 in KVP today, it will give you Rs1,00,000  at the end of the tenure. Launched in 1998, the scheme was initially meant for farmers, who  could plan a long-term investment. Back then, the interest rate varied between 8.2 and 8.4 per cent. It was, however, re-launched in 2014 with some changes. A popular scheme amongst the masses, a government committee formed in 2011 said that it could be used for money-laundering. When the scheme was launched again in 2014, mandatory proof for investments above Rs50,000 became necessary. Proof of source of income was also required for making investments over Rs10 lakh. Kolkata–based Nirmalya Saha had invested in KVP in 2016 when the...