Kisan Vikas Patra: How Rs 5 Lakh Can Become Rs 10 Lakh In 9 Years 7 Months

Investors looking for a relatively predictable long-term savings option may consider government-backed small savings schemes instead of market-linked products. Kisan Vikas Patra , or KVP, is one such scheme and, despite its name, it is not restricted to farmers. Eligible investors can put money into the scheme and receive the accumulated amount at maturity. At the current interest rate of 7.5% per annum, compounded annually, the investment doubles in 115 months, or nine years and seven months. That makes KVP particularly relevant for those who can leave their money invested for several years and do not need regular interest payouts.