Kisan Vikas Patra
Kisan Vikas Patra (KVP) is a savings plan that was reintroduced on 18-Nov-2014 by the Government of India. It is to encourage people to save their money and not invest in fraudulent schemes. The plan offers current interest rate of 7.6 per cent. It doubles an investment in 113 months (9 years, 5 months). Finance Minister Arun Jaitley started the plan. The Directorate of Small Savings Government of India, sells these saving bonds through all Post Offices in the country. A KVP can be cashed in after two and a half years from the date of issue at the purchase amount plus interest. However, there is no tax break for investors in KVPs.