Utility News Desk !!! Saving is very important, because this is the thing that will be most useful to you in times of trouble. That is why everyone is asked to invest in something or the other, most people continuously invest some part of their earnings. Due to which they get many times the money after many years. Today we are telling you about such a scheme, in which your money gets doubled.

Actually, this is not a chit fund scheme, but a government-backed scheme, which many people are taking advantage of. This scheme was started on post office accounts. The name of this scheme is Kisan Vikas Patra (KVP). This scheme is a fixed rate small savings scheme, which has been created to encourage long-term investment and savings among the people.

If you are afraid of investing in any other savings scheme or are afraid of taking risk then this scheme is best for you. In this scheme you get guaranteed returns and there is no risk in it. Now you can buy Kisan Vikas Patra from post office as well as public sector banks. In this, you can invest at least one thousand rupees.

When you take Kisan Vikas Patra, your tenure is determined according to the prevailing interest rate at that time. This shows how much time it takes for the value of your money to double. Currently the interest rate is 7.5 percent, so you have to invest for 9 years and seven months. That means after this time you will get double your money.

Its interest rate is revised every quarter, however, if you have taken Vikas Patra earlier then it will not have any effect on your tenure. If you need the money earlier, you can make an early withdrawal after two years and 6 months. However, you get less benefit in this.