National Savings Certificate and Kisan Vikas Patra, know who is better for you

People are always looking for new and cheap options for saving and investment. Other than all the other options, our focus is on the post office schemes. Both the Kisan Vikas Patra and the National Savings Certificate, which are operated in the post office, are both better sources of income. Increasing the recent rates on small savings schemes have made both schemes even more attractive. We are telling you in the news that who is better for you ...

Farmer development letter

Kisan Vikas Patra (KVP) was introduced in 1988 to provide benefits to the farmers in rural areas. Soon it became popular.

Eligibility

Any person 18 years of age or older can buy KVP.

How to apply

To buy KVP, Address proof will be required with Photo ID card. Kisan Vikas Patra will have to go to the nearest post office. You will also find your PAN details.

How much to invest

KVP will require at least Rs. 1000. After this, you can invest in multiples of 1000 rupees. However, there is no limit to maximum investment. The amount deposited in it is wholly after 112 months. Interest on this is of 7.7 percent. Kisan Vikas Patra (KVP) can be transferred from one person to another and one post office to another post office.

Tax exemption

On the investment made in the Kisan Vikas Patra, the benefit of tax exemption under section 80C of Income Tax is not available.

National Savings Certificate

National Savings Certificate (NSC) is a fixed income investment scheme, you can invest in any post office. There is no investment limit.

How to apply

To buy NSC, you can contact PAN Card and Address Proof at the nearest post office.

How much investment

You can get NSC of Rs 100 and above.

How much interest will you get

In the National Savings Certificates Scheme, interest will be charged at the rate of 8.0 percent annually. Earlier, on the investment in this scheme, there was an interest rate of 7.6 per year.

Tax exemption

Deposits are exempted under section 80C of income tax.