Double your money in 115 months; Do you know this post office scheme?

Kisan Vikas Patra is a certificate scheme of India Post Office. This doubles the investment in approximately 9.5 years (115 months). For example if you invest Rs.5000 in this scheme you will get Rs.5000 at maturity.
Types of Certificate
Single Type Certificate: This type of certificate is issued by an adult either for themselves or on behalf of a minor.Joint 'A' Category Certificate: This category certificate is issued jointly to two adults. Joint 'B' Category Certificate: This category certificate is issued jointly to two adults.
Eligibility of the scheme
Applicant must be a citizen of India.Applicant must be above 18 years of age.Hindu Undivided Family (HUF) and Non-Resident Indians (NRIs) are not eligible to invest in KVP.
Interest
The rate of interest for Kisan Vikas Patra varies depending on the number of years the scheme is invested. Current interest rate is 7.5%. By compounding interest, you get more return on your deposit.
Maturity
The maturity period for Kisan Vikas Patra is 115 months after which you can avail the corpus. Kishan Vikas Patra's maturity amount will continue to earn interest till you withdraw the amount.
Taxation
Investment in Kishan Vikas Patra scheme is not eligible for exemption u/s 80C. And the interest income is fully taxable. TDS @ 10% is deducted on the interest credited every year. The maturity proceeds are also tax free.
Investment
KVP is available in denominations of Rs.1,000, Rs.5000, Rs.10,000 and Rs.50,000 for investment. No maximum limit. Note that values worth Rs.50,000 are available only at a city head office.
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