PPF Calculator: Today, everyone thinks about investing so that they can secure their future and their family. On the other hand, if people want to stay away from risky investment options like the stock market or mutual funds, then the post office small savings schemes can be a better option for them. These schemes are supported by the government, and they get guaranteed returns. One of the popular schemes among these is PPF. You can deposit a good amount of funds by investing in it.
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How much interest is being received in PPF
For information, let us tell you that the government is giving 7.1% compounding interest annually on PPF. This interest is added to the account at the end of every financial year, and the good thing is that there is no tax on it.
What is the investment limit?
A minimum of Rs 500 and a maximum of Rs 1.5 lakh can be invested in PPF in a financial year.
If you want, you can deposit the entire amount at once, or you can also invest in installments every month.
By investing in this scheme, you also get a tax exemption under Section 80C of the Income Tax.
Maturity and extension option
For information, let us tell you that the original maturity period of PPF is 15 years. However, if you want, you can extend it for 5-5 years every time. For this, an application has to be made at the post office.
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Deposit Rs 42 lakh in 20 years
On the other hand, if you invest Rs 8,000 every month in PPF and continue it for 20 years, then you can get a total fund of Rs 42,61,304. The amount invested in this is Rs 19 lakh 20 thousand, and the income from interest can be deposited as Rs 23 lakh 41 thousand 304. This amount will be completely tax-free.