Post Office Scheme to Double the Money

A Post Office near you is probably the only place that can give you the guarantee to double your money. While investing your money in mutual funds and stocks can as well double your money, and probably in less time, but the risks associated with these schemes keep the vulnerable and small investors away. However, this is not the case with small savings schemes like the Post Office scheme to double the money. The investments that you do in these small savings schemes guarantee the safety of invested money.

Read more
investent plan
Plans starting from ₹1000/month
tata aia life insurance
Bajaj Allianz
hdfc life insurance
Best Investment Plans
  • money
    Generate wealth with high returns Earn 1 Cr in maturity with Zero LTCG tax
  • tax
    Double tax savings On premiums (under 80C) and on maturity (under 10(10D))^
  • compare
    Compare & choose the best 30+ Plans and 150+ Fund options
We are rated~
6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold

Top performing plans with High Returns*

Invest ₹10K/month & Get ₹1 Crore returns*

We don’t spam
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company
Get Updates on WhatsApp
We are rated~
6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold

That means the money you have deposited in these small savings schemes will for sure be returned to you by the Indian Government even in case of default. In this way, your invested money will not go anywhere even if government organizations like Post Office shut down.  

The small savings schemes with Post Office such as Kisan Vikas Patra are providing higher interest rates if we compare them with the schemes of some of the leading Indian banks. Surprisingly, Kisan Vikas Patra is some of those Post Office schemes to double the money in the declared timeline.

Even though, the current Central Government has slashed the interest rates of small savings schemes; but these small savings schemes like Kisan Vikas Patra are still lucrative than fixed deposits of banks. Kisan Vikas Patra still has the potential to double your money in upon maturity in 124 months. 

Previously, Kisan Vikas Patra was having a maturity period of 11x3 months, however, in recent revision in these small savings schemes, this period is increased to 124 months. With this, the annual interest rate on Post Office Kisan Vikas Patra is slashed down to 6.9% from 7.6%. After investing in this scheme, you get the guarantee from the government that your invested amount is secured and you will get a guaranteed return.

Elaborating on Kisan Vikas Patra, the rate of interest remains fixed throughout the investment period at the rate of the annual rate of interest that is provided at the time of account opening. For instance, if someone has opened a Kisan Vikas Patra account with Post Office in January 2020, then he/she will get the interest rate of 7.6% throughout his/her period of investment. This is because from January to March 2020 quarter of the year the interest rates for this scheme will be 7.6% whereas a new rate will be applied for all the accounts that will be opened in April to June 2020 quarter.

So, despite slash in the interest rate, you can use this Post Office scheme to double the money because the new maturity period is increased to 124 months which is equal to 10 years and four months in place of 113 months. In this way, if you invest Rs.10, 000 in Kisan Vikas Patra today then upon maturity of this scheme, which is after 124 months, you will get Rs.20, 000. Even the official website of the Indian Post Office says that it is the Post Office double money scheme.

Those who want to invest in Kisan Vikas Patra have to invest at least Rs.1, 000. This amount should be in multiples of 100. However, there is no limit on the maximum amount to be invested in this scheme. Kisan Vikas Patra can be purchased from any Indian Post Office and facility to add nominee is also available there.

The certificate of KVP can be transferred from one person to another and can also be transferred from one Post Office to another. You can as well encash it after two and a half years of purchased date.

So, this Post Office scheme to double the money offers interest more than any bank FD like FDs offered by HDFC or SBI. For a 10-year FD, SBI is offering a 6.25% interest rate whereas HDFC Bank is offering an interest rate of 6.9%. 

Being an adult, you can purchase KVP for self or a minor’s behalf or with some other adult from any Indian Post Office’s branch. There is a nomination facility as well.

Since an investor can transfer his/her Kisan Vikas Patra from one Post Office branch to another and from self to another, thus it can be used as a gift.

Moreover, there is no restriction over the maturity period withdrawal, thus you can encash it after two and a half years if you wish to.

The Final Words

As the Indian Post Office itself says that you can double your money with this scheme of Post Office, so you can easily trust on it for doubling your money.

Disclaimer: Policybazaar does not rate, endorse or recommend any specific insurance provider or insurance product offered by any insurer.

Read Also: Post Office Interest Rate

Past 10 Year annualised returns as on 01-12-2023

^Tax benefit are for Investments made up to Rs.2.5 L/ yr and are subject to change as per tax laws.

*All savings are provided by the insurer as per the IRDAI approved insurance plan.

Tax benefit is subject to changes in tax laws. Standard T&C Apply
~Source - Google Review Rating available on:-

Become a crorepati-1
Invest More Get More!
You Get
₹1 Crores*
You Invest
You Get
₹80 Lakhs*
You Invest
You Get
₹50 Lakhs*
You Invest
capital guarantee
Investment Calculator
  • One time
  • Monthly
/ Year
Sensex has given 10% return from 2010 - 2020
You invest
You get
View plans

Investment plans articles

Recent Articles
Popular Articles
How Thanks giving and Black Friday Affect The Indian Stock Market?

23 Nov 2023

Black Friday and Thanksgiving mark the beginning of the holiday
Read more
Axis Bank NRI Account

11 Oct 2023

The Axis Bank NRI Account is a gateway to seamless banking
Read more
ICICI Bank NRI Account

09 Oct 2023

The ICICI NRI Account is a specialized banking solution designed
Read more
Long- Term Income Plans

11 Sep 2023

Long-Term Income Plans are strategic financial products that
Read more
Max Life Capital Guarantee Solution

28 Aug 2023

Capital Guarantee Solution Plan offered by Max Life insurance, a
Read more
Best NRE Savings Accounts for NRIs in 2023
India is a growing economy and is getting a lot of global recognition these days. It has shown immense growth in
Read more
Short Term Investments Options
Short-term investments can be described as temporary investments or marketable securities, which can be easily
Read more
Best LIC Policies For Investment in 2023
LIC Policies for investment are the best option to invest your hard-earned money. As LIC is a government-backed
Read more
10 Disadvantages of Senior Citizen Savings Scheme (SCSS)
The Senior Citizen Savings Scheme (SCSS) is a popular investment option, introduced by the Indian Government in
Read more
Ways to Double Your invested Money
One of the main reasons we invest money is to save it and watch it grow. However, with low interest rates from
Read more

Download the Policybazaar app
to manage all your insurance needs.