A good investment can give you great returns in a short time. However, if you invest for a long time, you can collect a good maturity value on it. In this series, today we are going to tell you about a very wonderful scheme, for investing in which you can collect a good amount of money. The name of this scheme is the Public Provident Fund. By investing in this scheme you are currently getting an interest rate of 7.1 percent. This interest rate is effective from April 1, 2023. Not only this, but by investing in this scheme you also get many tremendous benefits. The investment you make in PPF matures in 15 years. However, after completion of the maturity period, you can extend it for another five years.
You can invest a minimum of Rs 500 in the Public Provident Fund. You can invest a maximum of up to Rs 1.5 lakh in this scheme.
If you want to collect Rs 68.72 lakh by investing Rs 8,333 in this scheme. For this, you have to save Rs 8,333 every month and invest Rs 1 lakh every year in this scheme.
You have to make this investment of Rs 1 lakh every year for 25 years. At the time of maturity after 25 years, you will get a total of Rs 68.72 lakh.
With this money, you can fulfill all the important purposes related to your future. By investing in PPF, you also get the benefit of tax deduction under Section 80C of Income Tax.
(PC: iStock)
