PPF Account: Nowadays, everyone is thinking about investing. In such a situation, if you are thinking about investing in a government scheme, then the PPF scheme can be special for you. By investing regularly in the PPF scheme, you can make a good amount of savings. The PPF scheme is very special for salaried people. The special thing about this scheme is that its maturity is available in 15 years. According to this, this scheme can be very special for retirement. For information, let us tell you that PPF is a government scheme. In which guaranteed returns are received on investing. Along with this, tax benefits are also available. You can invest heavily in the PPF scheme without any risk. This scheme can be a great option for people.
Invest 1.5 lakh rupees annually
Let us tell you that in the PPF scheme, interest is being received at the rate of 7.1 percent annually. In this scheme, you can deposit up to a maximum of 1.5 lakh rupees in a year. You can do this in 15 years. In such a situation, you are wondering how much money will be received on maturity if you deposit a lump sum amount for 15 years.
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How much money will be received on maturity?
Let us tell you that if you invest Rs 1.5 lakh annually in a financial year, then compound interest is received at the rate of 7.1 percent as interest. In such a situation, the total investment in 15 years will be Rs 22.5 lakh. After adding the interest amount, a total of Rs 40 lakh 68 thousand 209 will be received on maturity. In this, about Rs 18 lakh 18 thousand 209 is earned on interest.
There is no tax in the PPF scheme
For information, let us tell you that the PPF scheme offers great benefits. This scheme comes under the EEE category. This means that a tax benefit is available on deposits up to Rs 1.5 lakh. There is no tax on the interest earned from this, while the amount received on maturity is also tax-free.
What will happen if the scheme is closed before time?
Let us tell you that if you do not deposit at least Rs 500 in PPF in any financial year, then your account will be closed. If you want to restart the account, then you can restart the account by depositing at least Rs 500 or the default amount of Rs 50 before maturity.