Kisan Vikas Patra (KVP) Post Office Small Savings Scheme Interest: One of the several, equally popular small savings schemes, available at post offices, the Kisan Vikas Patra (KVP) certificates doubles the invested amount in 115 months. For the quarter ended March 31, 2024, the certificate deposit scheme, which allows a one-time investment of a minimum Rs 1,000, and any amount in multiples of Rs 100 thereof without any upper limit, offers an annual return of 7.5 per cent compounded annually, according to the India Post website, indiapost.gov.in.
A peculiar feature of this small savings scheme is that it doubles the original amount invested upon maturity, which stands at 115 months (nine years and seven months). This essentially means that the minimum investment of Rs 1,000 in the scheme grows into Rs 2,000 in the maturity period.
Meanwhile, The government has maintained the interest rate applicable to the Kisan Vikas Patra (KVP) scheme at 7.5 per cent per annum, compounded annually, for the quarter ending June 30, 2024.
Here are a few examples to illustrate how the one-time investment in a post office KVP plan grows every passing year until the total maturity period of 115 months.
Rs 9,999 investment
| Period | Kisan Vikas Patra | ||
| End of first year | Rs 10,749 | ||
| End of second year | Rs 11,555 | ||
| End of third year | Rs 12,422 | ||
| End of fourth year | Rs 13,353 | ||
| End of fifth year | Rs 14,355 | ||
| End of sixth year | Rs 15,431.5 | ||
| End of seventh year | Rs 16,589 | ||
| End of eighth year | Rs 17,833 | ||
| End of ninth year | Rs 19,170.5 | ||
| End of nine years and seven months | Rs 19,998* | ||
| * Maturity | |||
Rs 14,999 investment
| Period | Kisan Vikas Patra | ||
| End of first year | Rs 16123.925 | ||
| End of second year | Rs 17333.219375 | ||
| End of third year | Rs 18633.210828125 | ||
| End of fourth year | Rs 20030.70164023438 | ||
| End of fifth year | Rs 21533.00426325195 | ||
| End of sixth year | Rs 23147.97958299585 | ||
| End of seventh year | Rs 24884.07805172054 | ||
| End of eighth year | Rs 26750.38390559958 | ||
| End of ninth year | Rs 28756.66269851955 | ||
| End of nine years and seven months | Rs 29,998* | ||
| * Maturity |
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Rs 24,999 investment
| Period | Kisan Vikas Patra | ||
| End of first year | Rs 26873.925 | ||
| End of second year | Rs 28889.469375 | ||
| End of third year | Rs 31056.179578125 | ||
| End of fourth year | Rs 33385.39304648438 | ||
| End of fifth year | Rs 35889.2975249707 | ||
| End of sixth year | Rs 38580.99483934351 | ||
| End of seventh year | Rs 41474.56945229427 | ||
| End of eighth year | Rs 44585.16216121634 | ||
| End of ninth year | Rs 47929.04932330756 | ||
| End of nine years and seven months | Rs 49,998* | ||
| * Maturity |
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The amounts at the end of different periods mentioned above are only to understand how the money grows gradually till the investor reaches the end of the maturity period, and are not the amount the investor gets in case the premature withdrawal option is exercised.
