Kisan Vikas Patra, commonly known as KVP is one of the best small savings scheme offered by the Post Office. As per the current interest rate, a KVP can double your investment in 124 months or 10 years and four months. A KVP account can be opened with a minimum amount of ₹1,000 and in multiples of ₹100 thereafter. Account openingA single adult, a joint account with up to three adults can open a KVP account. A minor above 10 years can get his KVP account in his or her own name.

Source: Mint December 27, 2020 02:15 UTC