Today we are going to tell you about a wonderful scheme of the Government of India, the Public Provident Fund. If you want to invest somewhere safe, from where you can get guaranteed returns. In such a situation, the Public Provident Fund is a great scheme for you. You are getting many great benefits by investing in the Public Provident Fund Scheme. At present, by investing in this scheme you are getting an interest rate of 7.1 percent. You can invest a minimum of Rs 500 and a maximum of Rs 1.5 lakh annually in PPF. The money you invest in Public Provident Fund matures in 15 years. The special thing about this scheme is that if you do not need the money after maturity of 15 years. In such a situation, you can extend it for 5-5 years.
After opening an account in the PPF scheme, you cannot withdraw money from it for five years. The Public Provident Fund Scheme comes under EEE category. In such a situation, if you invest in this scheme, you also get the benefit of tax exemption.
If you want to collect a fund of Rs 37.96 lakh by investing Rs 11,666, then let us understand the mathematics of investment in detail -
For this, you will have to save Rs 11,666 every month and invest Rs 1,40,000 annually in the Public Provident Fund Scheme. If you calculate based on a current interest rate of 7.1 percent, then your investment will mature after 15 years.
During that time you will get a total of Rs 37,96,995. You have to invest a total of Rs 21,00,000 during the investment period. You will get a total interest of Rs 16,96,995 on this investment. In this case, the total maturity value will be Rs 37,96,995.
(PC: iStock)
