Kisan Vikas Patra vs FD: Investing wisely is just as important as earning, and there are a lot of options available in the market for all kinds of investors. Fixed Deposits (FDs) have been a popular option for people looking for risk-free investment options because of their guaranteed returns. But there’s a better plan out there, the Kisan Vikas Patra (KVP), which has more advantages and greater interest rates.
Kisan Vikas Patra vs. Fixed Deposit: Comparing the Returns
This is a brief overview of current interest rates compared with popular bank FD schemes.
- Kisan Vikas Patra (KVP): 7.50%
- Axis Bank FD: 7.10%
- State Bank of India FD (SBI FD): 7.00%
- HDFC Bank FD: 7.00%
- Bank of India FD (BOI FD): 6.75%
- Union Bank FD: 6.50%
It is evident that Kisan Vikas Patra provides better returns than the majority of fixed deposits offered by top banks.
Benefits of Kisan Vikas Patra
The government-backed Post Office scheme Kisan Vikas Patra has the following benefits:
- Greater Interest Rate: Compared to many FDs, KVP delivers superior returns with an interest rate of 7.5%.
- Transferable: The certificate can be moved from one post office to another or given to another individual.
- Joint Accounts: Investing can be done in either a single or joint account, which divides the financial load between the two parties.
- Lock-in term: The investment will not be touched for the full 2.5 years (30 months) of the scheme’s lock-in term.
- Eligibility: The minimum age for investing is 18 years, and accounts for minors can be managed by parents.
Disclaimer: (This information is provided solely for informational purposes. It is important to note that investing in the market or a business idea involves market risks. Before investing money as an investor/ owner/ partner, always consult an expert. DNP News Network Private Limited or it’s writer never advises to invest money on stocks or any specific business idea. We will not be liable for any financial losses.)
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