PPF Investment: If you’re on the hunt for a secure, long-term investment, the Public Provident Fund (PPF) might just be the perfect choice. Recent calculations show that if someone puts in Rs 7,000 each month into a PPF and keeps it up for a long time, they could end up with about Rs 57.72 lakh when it matures.
PPF is a government-backed scheme in India, with interest rates updated periodically. Right now, it offers an annual interest rate of 7.1%. The best part? Your investment is completely safe and comes with tax perks.
So, how does a big fund come together?
– If someone invests Rs 7000 every month, that totals Rs 84,000 a year.
– After 15 years, this amount, along with interest, could grow to around Rs 20 lakh.
– But if the investor keeps this up for 25 years, the power of compounding kicks in, and the fund could reach about Rs 57.72 lakh.
This scheme is particularly great for anyone looking to secure their future. Whether you’re a salaried worker, running a small business, or just want to play it safe, PPF is a solid choice. By setting aside a small amount each month, you can create a nice fund for your kids’ education, weddings, or retirement.
Another plus of PPF is that your investments are tax-deductible under Section 80C. Plus, when it matures, the entire amount is tax-free. So, investors not only enjoy safe returns but also get to save on taxes.
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