Public Provident Fund Calculator: Today, everyone thinks of investing. The reason for this is that he can protect his future tomorrow. In such a situation, if you also want to give a better tomorrow to your family, then this news can be special for you. Let us tell you that many small savings schemes are being run by the post office, in which people are investing money. People are investing in it because it gives great returns without any risk. With this, there is more interest from the bank. Actually, we are talking about the PPF scheme. If you invest 8 thousand rupees monthly in this scheme, then you can deposit up to 42 lakh rupees in 20 years. Let us know in detail about this scheme.
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Learn about the PPF scheme
For information, let us know that PPF is a secure scheme. In this scheme, the government offers a quarterly interest rate; at this time, PPF gives an annual compound interest of 7.1 percent. The government deposits it in the interest account at the end of every year. Along with this, the interest received in PPF is tax-free.
Deposit 1.5 lakh rupees in 1 year
In the PPF scheme, you can go up to at least 500 rupees in a year, while in a financial year, Maxim can deposit up to Rs 1.50 lakh. If you want, you can invest together, or money can also be deposited in installments. If you want, money can be deposited in a monthly PPF. In this, the total money in a year should not be more than one and a half lakh rupees. The investment made in the PPF scheme can benefit from tax deduction under Section 80C of the Income Tax.
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There is a facility to increase maturity
Let us know that the maturity period of the PPF scheme is 15 years; it does not include an account-opening financial year. If you want, you can extend the maturity for 5-5 years. For this, you can apply at the post office.
A fund of up to 42 lakh rupees will be available
If you put 8 thousand rupees in SIP for 20 years, then you will have a fund of up to 42 lakh 61 thousand 304 rupees. In this, you can invest up to 19 lakh 20 thousand rupees and will get interest of up to 23 lakh 41 thousand 304 rupees.