PPF: Invest in this government scheme by saving Rs 416, you can become a millionaire in a few years

If you invest your savings in a good scheme while working. In this situation, you can collect a good amount of funds in a few years. In this episode, today we are going to tell you about a very great scheme of the government, where by investing you can become a millionaire in just a few years. The name of this scheme of the government is the Public Provident Fund Scheme. The Public Provident Fund Scheme is a great scheme of the Government of India. By investing in this scheme, you are currently getting an interest rate of 7.1 percent. This scheme is quite popular in the country. People are investing in this scheme on a large scale. If you want to collect a good amount of funds for yourself after retirement, then you can invest in this scheme. In this episode, let us know about this scheme in detail -

In the Public Provident Fund Scheme, you can invest a minimum of Rs 500 and a maximum of Rs 1.5 lakh annually. The maturity period of the PPF scheme is 15 years. After the maturity period of 15 years is over, you can extend your investment period for five years each.

By investing in the PPF scheme, you also get tax benefits under section 80C of Income Tax. In this episode, let us know how you can save crores of rupees by saving Rs 416.

For this, you have to save about Rs 416 daily and collect Rs 12,500 every month. If you collect Rs 12,500 every month, then you will have Rs 1.5 lakh annually. You have to invest this in the PPF scheme. You have to make this investment for the entire 25 years.

If you calculate based on the current interest rate of 7.1 percent, then after 25 years at the time of maturity you will have Rs 1,03,08,015. With this money, you will be able to fulfill important purposes related to your future.

(PC: ISTOCK)