The Kisan Vikas Patra allows you even small investments of Rs.100 at one time. There is no maximum amount that you can invest. The interest accrued on your investment is added back every year. The effective rate of interest works out to 11.25 per cent. And a sum of Rs.1, 000 invested in the beginning of the year 2000 will give you Rs.2, 000 in June 2006.
Buying a certificate is not at all difficult. The Kisan Vikas Patra is available at designated branches of the Post Office. Investment can be made in multiples of Rs.100, Rs.500, Rs.1, 000, Rs.5, 000 and Rs.50, 000. The certificate can be encashed at the Post Office where it was issued. If you are in another city, approach the Officer-in-charge of that Post Office with full details including the identity slip of the holder.
In case you need the money earlier, you can either take a loan or surrender your certificate. However surrendering the certificate can be requested only after two and a half years and the interest that you would receive would be much less. Unlike the PPF there is no facility to take a loan on the certificate from the issuer. But you can take a loan from the bank, by offering it as collateral for a loan.
Unlike the National Savings Certificates or the Public Provident Fund, there are no tax benefits on this scheme.
Subscribe to:
Post Comments (Atom)
2 comments:
Hello Everybody,
My name is Mrs Sharon Sim. I live in singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of S$250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of S$250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius,via email:(urgentloan22@gmail.com) 008376918351 Thank you.
$$$ GENUINE LOAN WITH 3% INTEREST RATE CONTACT US FOR MORE DETAILS $$$.
Are you looking for a loan to clear off your dept and start up your own Business? have you being going all over yet not able to get a legit loan Company that will loan you? Here is your final solution, We can give you any amount you need provided you are going to pay back within the period of time given without any problem. Apply now and contact us for more details via email below.
Email: henski.john46@gmail.com
Application For loan.
First Name:
Last Name:
Date Of Birth:
Address:
Sex:
Phone No:
City:
Zip Code:
State:
Country:
Nationality:
Occupation:
Monthly Income:
Amount Needed:
Duration:
Purpose of the loan:
E-mail address:
Email: henski.john46@gmail.com
Post a Comment