Many people in the country want to invest their savings in some good place. However, due to a lack of information, these people are not able to invest their savings in a good place, where there are better chances of getting returns. If you also want to invest your savings in a safe place for a long time, where you can get good returns on your money without market risks. In this episode, today we are going to tell you about a very wonderful scheme. The name of this investment scheme is the Public Provident Fund Scheme. At present, by investing in this scheme, you are getting an interest rate of 7.1 percent, which is effective from April 1. The money you invest in PPF matures in 15 years.
However, after the maturity period of 15 years, you can extend the investment period twice for 5 years each. You can invest a minimum of Rs 500 in this scheme. A maximum of Rs 1.5 lakh can be invested.
If you also want to become a millionaire by investing in this scheme. In such a situation, you will have to understand the mathematics of its investment. For this, you will have to invest Rs 1.5 lakh in PPF every year.
In this case, you will have to save Rs 12,500 every month. If you invest Rs 12,500 every month in the PPF scheme for 25 years. In this situation, at the time of maturity you will have a total fund of Rs 1,03,08,015.
Investment in PPF comes under the EEE category. By investing in this scheme, you also get the benefit of tax deduction under Section 80C of Income Tax.
(PC: iStock)
