PPF FAQ Guide India

PPF (Public Provident Fund) FAQ (Frequently Asked Questions) Guide

PPF is now India’s most widely used tax saving scheme. But still many bank officials don’t know about its various rules exactly said DNAIndia.

First off, we begin with the withdrawal facilities. Several readers have complained that even bank officials aren’t too aware of the exact rules, specifically in terms of how much can be withdrawn and when.

The withdrawal facility is best explained in terms of an example. Suppose the account was opened in the fiscal year 1995-96. Now, the point to be noted is that though PPF is a 15-year instrument, it ignores the year of opening the account. Therefore, it is actually a 16-year one and the account holder can contribute to the account even during the 16th financial year, even on the last day. So in the case of withdrawals, this creates confusion.

The followingpoints are an attempt to clear the confusion.

Maturity date: Add 15 to the financial year end — in the above example, 1996 + 15 = 2011. Thus, the account matures on completion of FY11, on April 1, 2011

First withdrawal date: Add six to the FY in which it was started. Thus, 1996 + 6 = 2002. Thus, the first withdrawal can be made in 2001-2002

Amount of first withdrawal: The fourth preceding year will be 2002 - 4 = 1998 (FY97-98) and preceding year will be 2002 - 1 = 2001 (FY00-01). The amount withdrawable in the seventh year, FY01-02 is 50% of the balance to the credit as on March 31, 1998 or March 31, 2001, whichever is lower.

Another frequently asked question is to do with forgotten, ‘dead’ accounts. In a specific case, a reader’s father had opened an account for her some seven years back but she had never bothered much about it.

Now, seven years on, could she open a new account or could something be done about the old one?

Well, if the investor fails to subscribe even the minimum Rs500, the account is considered as discontinued. Loans and withdrawals are not available from a discontinued account. At the end of the term, the investor will be paid the balance with accrued interest for the full term. However, the good news is that it is possible to revive the old account by contributing Rs500 with a penalty of Rs50 for each year that the account lay dormant.

This fact is not known to many. They feel that very old discontinued accounts cannot be regularised. Note that the penalty does not attract any interest or deduction.

However, by far the most commonly asked question is to with post-maturity treatment of PPF. In other words, what happens after the 16-year period is over? Though some investors start a fresh PPF account, the idea of keeping funds locked in for another 16 years does not appeal to all. Especially to investors of an advanced age, who look towards an element of liquidity in their investments.

But did you know that once the initial term of 16 years of PPF is over, you can extend the account for 5 years at a time and extend for 5 more years after the extended period is over and continue to so extend indefinitely? In other words, instead of 16 years, the same PPF account can be converted into a 5-year recurring deposit that offers the 8% tax-free interest, tax saving under Section 80C and immense liquidity — and all this for your lifetime.

Open PPF Account Post Office SBI India

How to Open a PPF Account at SBI and Post Office Branches in India?

Do you want to open your own PPF (Public Provident Account) but don’t know its procedure? Than don’t worry. This article is absolutely for you. In this article, I will teach you that how you can open a PPF account at any SBI or post-office branch in India.

Step by Step Guide to Open PPF Account

First of all you will need some documents to open PPF account. Here is a list of documents that you will need before opening a PPF account.

01) 2 Passport size photographs

02) Photocopy/Xerox of identity proof ( Passport, Pan Card, Driving License, Voter ID, Ration Card).

You will also require 1 Witness.

Now, visit your nearest SBI or post office branch and ask for the PPF account opening form. Fill the form and give the required documents. Also fill the nominee details and also do the signature of the witness.

Before Opening a PPF account – Things to keep in mind

Interest is calculated on 5th of every month, so Subscriptions must be made before the 5th of every month to take advantage of the interest component for the particular month.

You can invest a maximum amount of Rs 70,000 in PPF account. Tax benefit under Sec 80 C is limited to Rs 70,000 per annum for investment in PPF account.

PPF account is considered to be a retirement savings instrument. It is advisable for you to open a PPF account.

Return on PPF is fixed by the Government of India on a yearly basis.

Tax Benefit on PPF Saving Scheme

Tax Benefit on PPF Saving Scheme

The amount deposited and interest earned on it (including interest during the extension period) is completely exempted from income tax under Section 10(11) and the entire deposit in the account is exempted from wealth tax.

The annual contribution upto Rs 70,000 is eligible for tax deduction under Section 80C. Tax deductions can also be claimed on contributions made during the extended period provided the option to continue is exercised within one year of expiry of 15 years (or the extended block period).

PPF Saving Scheme is Worthless Now

PPF Saving Scheme is Worthless Now – Savers are Losers Now

PPF is one of the most widely used saving scheme in India which offers guaranteed 8.5% annual returns and tax benefits. In fact, there is a common propaganda that everyone should invest up to Rs.70k every year in the PPF Scheme because of its long term benefits and returns after several years.

In fact, Saving your Money in PPF is the most widely used financial advise by the financial planners, bloggers and finance gurus in India.

But Do you know that, the Rules of Money have been changed now?

Today, the reality is that, Investing in PPF can actually hurt your money? Well, Yes. Today if you invest your money in the PPF than after 1 year you will be poorer than today and not rich even if you earn 8.5% interest on your invested money.

This is because the inflation rate is 14% in India (In July 2010) right now and the average annual inflation rate in India is 10.50%. Thus, actually you are earning – 2% returns on your PPF returns.

Thus, if you invest 100 rupees in PPF than it means that you are actually loosing 2 rupees annually on it even though you are earning 8.5 rupees of interest on it. Because the average inflation is 10.5% which is eroding the purchasing power of your money.

The Government assures us that, it will control the Inflation very soon. But well, its not possible because the US Government is printing dollars like hell which is diluting the purchasing power of the existing money in the circulation by causing uncontrolled inflation affecting the developing economies also.

Thus, Today Investing in PPF is the Most Dangerous Personal Finance advise that anyone can give you.

This is because investing in PPF today means investing your money to reduce its purchasing power and nothing else.

So How the Rich play the Game of Money? Well, the Rules of Money have been changed now and the Rich plat the game of money differently. In fact, the rich teach their kids different things about money that the poor and middle class don’t.

Recently I have published an eBook about these new rules of money. You can Download it right now for FREE and learn these new lessons on Money. Here is the Download Link.

My Journey To Billionaire Club: What Rich Teach Their Kids About Money That Poor & Middle Class Don’t?

Public Provident Fund (PPF) Offered by ICICI in India

Public Provident Fund (PPF) Offered by ICICI in India

PPF also known as Public Provident Fund is one of the most widely used saving scheme for small investors in India. This Scheme gives option to invest Maximum Rs.70,000 per annum tax free and with 8.5% annual returns.

In the 2005, ICICI Bank has announced that it will launch the PPF Scheme opening facility online for their customers. Here is the Announcement PDF.

ICICI Bank had claimed that it will give this facility in the online form so it will be hassle free for the customers. And it also started this facility in selected cities like Mumbai.

And many people had also joined this scheme also.

But well, According to the Mouthshut, ICICI Bank has silently withdrawn this facility and stopped providing the online support and even the customer support for their existing customers.

When the new customers started calling about the Online PPF Scheme, the Customer care is now telling that the facility is withdrawn. So Why ICICI Bank has withdrawn this facility is really a Mystery.

Anyways, Do you know that what’s going on the current world? Do you know that PPF Investment which was once upon a time considered to be one of the best investment in the country is now worthless?

Well, Yes. This is true. In fact, today Investing your money in PPF means actually losing it. Because the Inflation rate in India is 14% (July 2010) and the returns offered by PPF is just 8.5% annually. So actually you are losing money.

You need a Financial Knowledge and the knowledge about the new rules of money to win the game of money. Recently I have published my new eBook which contains all the new rules of money. The book contains what the rich teach their kids about money that poor and middle class don’t?

And you can Download this eBook for FREE right now from the following Download Link.

My Journey To Billionaire Club: What Rich Teach Their Kids About Money That the Middle class Don’t?

So Download this eBook in the PDF form right now and shoot up your financial IQ by several folds.

Safe Investments for Seniors

Safe Investments for Seniors

If you want to sale any Financial product in India than add a pre-fix “Safe” on the name of that financial product and people will buy it. The word “Safe” is a Magic Word. You can sell any Investment product to literally anyone in India by applying a pre-fix “Safe”.

This shows the lack of Financial Literacy countrywide. Senior citizens are also targeted. The market is full of financial products like “Safe Investments for Senior Citizens”. Now, the question is that, how Safe the “Safe Investments” for Senior Citizens are?

Well, almost every financial product ultimately divert your money towards the equity or at least part of the money towards equity and part of it in a debt. Well, see. Growth is not at all possible without Equity.

Now, what my argument is that, if you are a senior citizen and want to invest your money than why not invest that money in starting your own Business? I know that you will now tell me that but it’s risky and I am looking for Safe Investments.

Well, owning your own Business is the Safest Investment in the world. This is because you have a management control over that business. Say for Example take the example of this Blog. This blog is my Internet Business and it’s my safest investment than the mutual fund investments or fixed deposits in my bank. This is because I have a full control on the management of this Business.

I can hire and fire “N” number of writers and Internet Marketers for this Business. And not only this but this business runs even without my presence if I hire a team of writers for it. So I think that my own Business is the safest Investment for me in this world.

And so is for you. Remember, your own Business is the safest Investment for you in this world because you have a full control over that business. So according to me the Safe Investment for Seniors is – Your Own Business.

Premature Encashment Rule 16

Premature Encashment Rule 16

Are you the holder of any of the government savings scheme like KVP, NSC, MIS or anything else? Than the Premature Encashment Rule 16 is very important for you to understand. Here is the rule.


Sub-Rule: 1 - Notwithstanding anything contained in rule 15 and subject to sub rules (2),(3)and (4), a certificate may be prematurely encashed any time in any of the following circumstances namely:-

(a) On the death of the holder or any of the holders in case of joint holders.
(b) On forfeiture by pledge being Gazetted Government Officer when the pledge is in conformity with these rules; or
(c) When ordered by a court of law.

Sub-Rule: 2 - If a certificate is encashed under sub-rule (1) within a period of one year from the date of certificate only the face value of the certificate shall be payable.

Sub-Rule: 3 -If a certificate is encashed under sub-rule (1) after expiry of one year but before the expiry of three years from the date of certificate, the encashment shall be at a discount. On the encashment of the certificate, an amount equivalent to the face value of the certificate together with simple interest shall be payable. Such simple interest shall be calculated on the face value at the rate applicable from time to time to single accounts under the Post Office Savings Account Rules, 1981, for the complete months for which the certificate has been held. The difference between the aforesaid simple interest and the interest accruing under rule 15 shall be deemed to discount.

Understand the above rule so that it can help you to understand the premature encashment of your certificate.

Comparison of Post-Office Schemes India

Comparison of Post-Office Schemes India

There are several Post-Office Savings schemes available in India. Each and every scheme has unique characteristics and you should select any scheme according to your needs and financial goals say for example, if the Capital gain is your sole purpose than you should go for Kisan Vikas Patra (KVP) and the Monthly Income is your prime goal than you should go for Monthly Income Scheme (MIS).

Here is a Full list of Post-office Savings Schemes in India. You can compare any post-office scheme with the other from the following list.

01) National Savings Certificate Scheme (NSC)

02) National Savings Scheme (NSS)

03) Post office Time Deposit Scheme

04) Post office Recurring Deposit Account (RDA)

05) Post office Monthly Income Scheme (MIS)

06) Post office Senior Citizen Scheme

07) Kisan Vikas Patra (KVP)

08) Public Provident Fund (PPF)

You can see that there are wide varieties of post-office schemes available in the market. You can compare and chose any of the scheme from the above list according to your needs and financial goals.

Just Compare all of the above schemes with each other before Investing in them.

Best Investment for Monthly Income India

Best Investment in India for Monthly Income

If you want to receive a monthly income from your capital risk free than Various Monthly Income schemes are there for you. Here is a list.

01) Post-office Monthly Income Scheme (MIS) -

This is one of the best investment that you can do for monthly income. What you have to do is, simply visit your nearest branch of any post office in India and apply for a post office MIS. This is totally risk free.

02) Monthly Income Mutual Funds -

Well, these are the kind of hybrid funds which have higher allocation in debt and smaller allocation in Equity. These funds do not guarantee to give you monthly Income but their fund managers try very hard to give you monthly bonus/income.

03) Pension Plans -

If you are young and want to make monthly income after your retirement than the Pension Plans are for you.

04) Bank Fixed Deposits -

You can simply park your money in bank fixed deposits and earn money every month.

05) Business -

Well, I know that this will sound risky and crazy to some of you. But the Truth is that, Business is the asset class just like any other asset class in this world. You can Invest your money to start your own business which will provide you a monthly income.

06) Franchisee -

Buying a Franchisee Business can be a good monthly Income Investment. Of course, many will say that this is risky but well, I would not say it.

07) Internet Business -

This is my favourite. You Invest your money to develop a successful website, blog, forum or any other kind of web property online such as Facebook Applications or anything else. This can be a good Investment. Take the Example of this Blog. I have developed this blog out of scratch only and today I am making well above $ 100 every month from this Blog.

Thus, the above are the Best Investments for Monthly Income in India. Believe me, Non of the above is risky if you know what you are doing. So Start any one of the above and become Financially Free…!!!

Is Post Scheme MIP a Passive Income?

Kindly inform me that if we are investing in postal scheme MIP, then we are getting every month interest on this. Please clarify me that this interest is my cashflow?

Recently a reader has asked me a question after reading the article – Net worth – Is it the Best measure to count the Wealth?

Well, in the article i have used the word “Passive Cashflow”. Well, Yes. the interest/income from your postal scheme, MIP is 100% your Passive Cashflow. This is because you have to work hard at once only to generate that Passive Cashflow but once you acquire this income stream, you don’t have to work hard at all. Weather you work or not? That Income stream will keep flowing into your bank accounts.

Smart people generate Passive Cashflow Income streams in their lives. Here are the Examples of Passive Income.

- Dividend Stocks
- Interest Income (Bonds, FDs, MIPs, Postal Savings)
- Portfolio Income
- Rental Income
- Royalties (Books, Movies, Music)
- Online Income (Blogs, Forums, Websites)

To Learn more about Passive Income Read the detailed article – Passive Income & How it Works?

I love to build Passive Income streams in my life. In fact, I always advise people to build the passive income streams. This is because acquiring passive income streams is the one time hard work only. Once you acquire an income stream, you can enjoy that income for the rest of your life without doing any hard work.

If you focus on developing passive income since your early life, than you will be financially free early.

Recurring Deposit Accounts - Basics

Recurring Deposit Accounts are the ideal way of investing small amount regularly for a period of desired time. And over the time, the compound interest will work in favour of you and you will have a large accumulated corpus at the end.

Recurring deposit provides an opportunity to plan specific financial goals such as daughter’s marriage or children’s education.

There are basically 2 types of Recurring Deposits Accounts available in India

01) Post Office Recurring Deposit Account &

02) Bank Recurring Deposit Account

Post office RD accounts are available at wide network of post offices all over India while all the Banks offer RD Account opening facility.

The Best part about Recurring Deposits accounts is that, you can invest as low as Rs.500 per month in these account. And over a period of time, say for 5 years or 10 years, you will have a descent corpus for your various financial goals. RD Accounts are for savers.

The Compound interest is so powerful over the time that, it multiples your wealth in a breath taking manner over the time. Thus, if you really want to start saving but at the end of month, there is nothing left for saving than RD Accounts are for you.

You have to follow “Pay Yourself First” Rule. Means every month, when you receive a paycheck, some amount of money should go towards your Recurring deposit account. Believe me,… This is very hard to follow initially but after few months, you will become disciplined and regular saver.

Safe Saving Schemes India

Many people want to know about Safe Saving Schemes in India. Here is a List of Safe Saving Schemes in India. Investment done in any of the following saving schemes is absolutely safe.

Complete List of Safe Saving Schemes in India -

01) National Savings Certificate Scheme (NSC)

02) National Savings Scheme (NSS)

03) Post office Time Deposit Scheme

04) Post office Recurring Deposit Account (RDA)

05) Post office Monthly Income Scheme (MIS)

06) Post office Senior Citizen Scheme

07) Kisan Vikas Patra (KVP)

08) Public Provident Fund (PPF)

Well, Yes. All of the above savings schemes are the safest saving schemes. In fact, the word Saving Scheme itself means Safe. The main purpose behind designing Saving Schemes is the safety of Principal. Investment Schemes are risky. Savings Schemes are never ever a risky.

All of the above Saving Schemes are launched by Government of India only and none of the above schemes are Equity Linked. In other words, none of the above above scheme will invest your money in the Stock market or any other high risk Investments.

And that’s Why Investment in all of the above Savings Schemes is totally safe.

Safe Investments for Senior Citizens

Safe Investments for Senior Citizens

Senior Citizens means people having age more than 65 years. For a Senior Citizen, the main financial goal is not the growth of the Capital at high risk. But for them, The Goal is to preserve the Capital as well as beating the inflation to protect the purchasing power of the Capital and at the same time regular income from the Capital.

Here are few Safe Investments for Senior Citizens -

01) GOI Bonds – Government of India 8%, Savings Taxable Blonds are the safest investment vehicle. They not only give the Capital Protection Guarantee but also provide the regular income 6 monthly.

02) Bank FDs – Another Great Investment option for Senior Citizens is Bank Fixed Deposits. They are also safe and provide you good returns.

03) Post Office Senior Citizens Scheme – This is Best Investment for senior citizens I think. Because they provide 0.5-1.0% higher annual return than any other post office savings schemes. Post Office Senior Citizen scheme is launched by Government of India only and you can subscribe this scheme at wide network of post offices all over the India.

04) Debt / Monthly Income Mutual Funds – Another Best Senior Citizen scheme is Mutual Funds. Now a days, Mutual Funds are so well managed that, you can just divert your money towards the fund manager and he will manage your money. Debt & Monthly Income Mutual Funds are the Best options

05) Start Your Own Business – Well, Yes. You have read right. I am talking about starting your own business as a senior citizen. You will now think that, How can a Business be a Safe Investment? Well, A Business can be a safe Investment as well as fun for the Senior Citizens. Just ask your self that, What is your PASSION? And develop a Business around that Passion. If you love to read a book than start a Book renting Business on small scale. If you love to cook and eat than start a small restaurant. There are several advantages of starting your own Business as a Senior Citizen.

One advantage is that, Your Business will provide you a steady Income even without your presence to run it. And second thing is that, Your Business will be a great time pass for you. The Best thing about starting your own Business is that, once it grows to certain size, you can hire managers to run it and after that, it will run without your presence.

Another great thing about starting a Business is that, you can pass on your Business to your grand children also. A Business is something which will run and grow automatically even without your presence. So Business is not risky at all. Don’t afraid of it.

So all of the above are the Best Safe Investments for the Senior Citizens. Kindly let me know if you know any other Safe Investment for Senior Citizens.

How Does Recurring Deposit Account Work?

How Recurring Deposit Account Works?

Recurring Deposits work on the principle of the power of the compound interest. Just think that, every month you earn. You receive a paycheck from your employer and you bring your money at your home. Now, what do you do with your money First? I mean what is the first expense you do every month?

Obviously you will pay all of your bills, rental, mortgage, credit card bills, loan EMIs and every other expense and you give yourself the excuse that, I will try to save money this month. But you can’t save money. But do you know that this is the false money spending habits. Unfortunately, in countries like India people don’t know much about how to and why to save money? and that’s why most of the people fail to build serious wealth in their lives.

And this is why the concept of “Pay Yourself First” and Recurring Deposit Account came into exists.

What it means by “Pay Yourself First” -

Well, pay yourself first means every month whenever you get a paycheck, some amount of money will automatically diverted towards Recurring Deposit account even before you do any other expense. This is how smart and financially free people do savings. They make Savings a Habit.

There are basically 2 types of Recurring Deposit Accounts -

01) Bank Recurring Deposit Accounts -

A normal fixed deposit means that you put in an amount and, after a specific period of time, you can withdraw it. Meanwhile, you do not touch the money or add to it.

A recurring deposit works on a similar principle. The difference is, instead of putting in a bulk amount, you put in a specified amount (which you decide when you open your recurring account) every month.

This could be a small amount that will not pinch your pocket or hinder your lifestyle.

At the end of the tenure, you get a nice amount.

02) Post-office Recurring Deposit -

This works the same way as a bank recurring deposit.

The difference is, you have to make a trip to the post office to deposit your money.

Also, the minimum tenure for a post office deposit is five years. You can choose a shorter tenure for a bank recurring deposit.

A bank deposit is more convenient but a post office recurring deposit offers a higher interest rate of 7.5% per annum. Each bank does offer a different rate, but chances are you will not get as much as 7.5%.

The Compound interest is so powerful over the time that, it will give you handsome returns over the time. Only a small amount saved monthly can transform into a huge amount over the time.

How Much to Invest in Stocks & PPF?

How Much Money to Invest in Stocks & PPF?

Hoe much money one should invest in Equity & in PPF (Public Provident Fund)? Well, as far as the question is about investing in PPF, the maximum limit of investing in PPF is Rs.70,000 per year. And this amount is tax deductible under section 80C. So i think every one should invest up to Maximum amount in PPF because it gives tax benefits as well as guaranteed higher returns.

Now, let us discuss about how much one should invest in stocks (Equity)? Well, this is really depends on one’s risk appetite, age, number of dependents and future financial goals.

I personally follow the rule of thumb. According to it, 100 minus your age should be the Equity allocation in your portfolio and the rest should be in debt and other asset classes.

However, ideally you should invest your all of those money in equity that you don’t need for at least next 10 years. This is because in the long run, Equity has outperformed any other asset class in the world. Equity has the potential to make you rich and financially free. No other asset class has this much potential.

So according to me, you should take a piece of paper and pencil and than write down your short, medium and long term financial goals on it. And after that put your long term financial goal money (more than 10 years) in Equity, medium term financial goals (3-5 years) in debt and short term (Less than 3 years) in Liquid Assets such as short term debt funds, Cash on Hand, Savings Account…etc…

How to Redeem National Savings Certificate India?

How do I Redeem NSC (National Savings Certificate) India?

Recently a reader has asked me the following question.

“have some NSC's issued by a particular post office. To redeem/encash them, do I have to visit the same post office again, or is there another way?
Reader”

Well 
You need not go to that particular post office where you purchased. you go to your nearest post any where in India and give an application to the post master and submit NSC bonds there .they send to the post office where u purchased at their risk and issue your money in 15 - 20 days in cash after conformation form the old post office.
but you do not forget to take acknowledgement on Xerox bonds what all you submit in post office.

Fixed Return Savings Schemes India

Fixed Return Savings Schemes India

Government of India is providing Fixed Return Savings Scheme via its wide network of post offices across the country. These schemes are popularly known as Post office Savings Schemes. These schemes give you safety of Principal as well as Fixed Return.

Complete List of Fixed Saving Schemes in India -

01) National Savings Certificate Scheme (NSC)

02) National Savings Scheme (NSS)

03) Post office Time Deposit Scheme

04) Post office Recurring Deposit Account (RDA)

05) Post office Monthly Income Scheme (MIS)

06) Post office Senior Citizen Scheme

07) Kisan Vikas Patra (KVP)

08) Public Provident Fund (PPF)

All of the above schemes will provide you a Guaranteed fixed return as well as tax benefits. You can start saving in any of the above scheme from the wide network of post offices all over the India. Simply click on any of the above schemes and know everything in detail about that scheme.

Each scheme is designed for different kind of needs. If regular monthly income is your goal than Post office Monthly Income scheme (MIS) is for you and if Capital Gain is your goal than Kisan Vikas Patra (KVP) is for you.

So start saving in any one or more of the above Saving Schemes.

Can KVP Money be Withdrawn?

Can you Withdraw your Kisan Vikas Patra (KVP) Money?

Kisan Vikas Patra (KVP) is one of the best post office savings scheme of India. It doubles your money in 7 years and 6 months. It is available on the wide network of post offices all across the India.

Premature Withdrawal of KVP -

Premature encashment is permitted after 2.5 years from the date of investment. lower interest accrued if prematurely withdrawn.

Yes, Premature Withdrawn is possible in KVP after 2.5 years from the date of investment but it will give you only lower interest rate if you do so.

So it is advisable that, before investing you plan your finance well. Only Invest those money in such types of schemes that you don’t need for long time horizon.

How to Buy Kisan Vikas Patra Online?

How to Buy Kisan Vikas Patra Online?

Kisan Vikas Patra (KVP) is one of the Best Post office Savings scheme in India. There are several other schemes also. KVP is mainly for Capital gains. It doubles your money in around 7 years. Now, this is the information age and many people want to invest in KVP via Online.

But well, let me tell you that, it’s not possible to buy Kisan Vikas Patra Online at present in India. You can buy RBI 8% Bonds online from sites like ICICIDirect.com but at present there is no such facility available online by which you can buy KVP or other Post Office Savings Schemes online.

The only way to by KVP is from the wide network of Post offices all around the India.

Click Here to know more about KVP Scheme

You have to go to any of your near post office and fill the application form to buy the KVP. Once you fill up the form, they will give you the KVP Maturity certificate. You have to keep that certificate with you. And on the maturity, you will get back your money.

This is what i know about applying for KVP. If you have any idea about how to buy Kisan Vikas Patra Online than please let me and other readers of this blog by commenting on this post.

Best Recurring Deposit Scheme India

Which is the Best Recurring Deposit Scheme India?

Several Banks & Financial Institutions in India give the facility of Recurring Deposit Account also known as RDA. But According to me, Post Office Recurring Deposit (RDA) Scheme is the Best Recurring Deposit Scheme in India.

Post Office RDA Scheme is the out performing scheme in India. The main feature i like about it is that, you can start your account with as low as Rs.10 and than in multiplies of Rs.5 only.

Go to the above link to know more about the Post Office RDA Scheme. You will find a wealth of Information about this scheme over there. However, many private banks also offer this type of schemes but Post office RDA has several advantages.

The main advantage of Post office RDA Scheme is that, you can open your account at wide range of post office networks all across the India. This is the main advantage of this scheme. Rural areas where there is no Banks, There always is a post office and you can easily open your account with the post office.

The post office network of India is the largest network in the world. It has covered all the rural and urban areas of India. So opening a Post Office RDA will be very much useful. You can open this account very easily and they will provide you a passbook where they can enter your deposit information.

Thus, Open the Recurring Deposit account with Post Office Recurring Deposit Scheme, after all it’s the Best Recurring Deposit Scheme of India.