If you are looking for a scheme for long-term investment, where you do not have to face any kind of market risks while investing. In such a situation, today we are going to tell you about a very special small savings scheme of the government. The name of this scheme is the Public Provident Fund Scheme. This scheme is quite popular in the country. At present, by investing in this scheme you are getting an interest rate of 7.1 percent. You can invest in this scheme for a total of 15 years. However, even after completion of the investment period of 15 years, you get the option to reinvest in this scheme. You can invest a minimum of Rs 500 and a maximum of Rs 1.5 lakh in the Public Provident Fund Scheme.
In this series, let us understand the investment formula with the help of which you can collect a huge fund of Rs 29 lakh by investing Rs 9 thousand. For this, first of all, you will have to open an account in the Public Provident Fund Scheme save Rs 9,000 every month and invest Rs 1,08,000 annually.
You have to make this investment for a full 15 years. By investing in the PPF scheme at present, you get an interest rate of 7.1 percent. If you calculate this interest rate, you will have a total of Rs 29,29,111 at the time of maturity after 15 years.
During the investment period of 15 years, you will have to invest approximately Rs 16,20,000. You will get a total interest of Rs 13,09,111 on the investment you have made.
PPF scheme is known as a long-term investment scheme in the country. In this scheme, you can deposit money through cash, cheque, demand draft, or online fund transfer.
(PC: ISTOCK)
