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If you are looking for a government scheme with 100% safe and guaranteed returns, staying away from the ups and downs and risks of the stock market, then the Kisan Vikas Patra (KVP) scheme of the Indian Post Office can prove to be a great option for you.

The biggest feature of this scheme supported by the Government of India is that the money invested in it directly doubles within a fixed time frame. At present, with an interest rate of 7.5% compounded annually, your investment of ₹1 lakh grows to ₹2 lakh in just 115 months (9 years and 7 months).

• Current Interest Rate: 7.5% per annum (interest compounded annually).

• Period for doubling of money: 115 months (9 years and 7 months).

• Sovereign Guarantee: Since this scheme is operated by the Ministry of Finance, Government of India, your principal amount deposited in it and the full returns received on it are guaranteed 100% government security.

• Investment Limit: minimum investment ₹1,000 Deposits can be made starting from Rs. 1000 onwards and any amount can be deposited thereafter in multiples of Rs. 100. invested in No Upper Limit Not there.

In KVP your money doubles exactly on maturity:

(Note: You get the same returns for the entire 115 months at the interest rate and time frame decided at the time of investment; subsequent quarterly changes have no impact on your old investment.)

Although its name is 'Kisan Vikas Patra', now the scheme is open to all citizens of the country:

• Single Account (Single Adult): Any Indian citizen above 18 years of age can open an account in his/her name.

• Joint Account: A maximum of 3 adults can open a joint account of type 'Joint A' or 'Joint B'.

• Name of minor: Children above 10 years of age can open this account in their own name and guardian (parents) can open this account in the name of children below 10 years of age.

• Non-Resident Indians (NRIs) and HUFs: NRIs and Hindu Undivided Families (HUF) are not eligible to invest in this scheme.

If you need money before maturity, KVP also offers the flexible facility of pre-mature withdrawal:

• 2.5 years lock-in: From the date of account opening 2 years and 6 months (30 months) After completion you can withdraw your money at any time.

• In case of premature withdrawal, payment is made after adding the interest applicable for that period as per the slab fixed by the post office.

• The account can be closed before 2.5 years only in special cases of death of the account holder, court order or seizure by a Government Gazetted Officer.

• Loan as security (Collateral for Bank Loan): If you suddenly need money and do not want to close the account, you can get a loan at very cheap interest rates by pledging your KVP certificate in any government or private bank.

• Transfer facility: KVP account can be easily transferred from one person to another or from one post office to another.

• Tax rules: There is no tax exemption under Section 80C in Kisan Vikas Patra. The interest received on this is taxable as per the tax slab by adding it to your annual income, although no TDS is deducted on it by the post office.

You can fill the KVP form by visiting your nearest post office branch. For this, passbook or electronic certificate can be obtained immediately by submitting Aadhar card, PAN card, address proof, 2 passport size photographs and payment through check or cash. This scheme is most suitable for investors who want to double their capital in a safe manner without any market risk.