Government Scheme: If you are thinking about investing, this news could be very important for you. Currently, the government is running several schemes that offer excellent returns on investment. In this era of inflation, everyone wants a part of their earnings to be secure and to earn the maximum possible return. If you are looking for such an investment scheme, one with low risk and guaranteed safety of your money, then this is for you.
We are talking about the Public Provident Fund (PPF), a reliable government scheme. It not only offers good interest but also provides complete security of your investment, guaranteed by the government. PPF is a long-term savings plan where the investor benefits from compound interest. This account matures in 15 years and can be extended further if desired. There is no market-related risk involved, making it a better option for those who want a secure investment.
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You can start with a small amount
Investment in a PPF account can be started with just Rs. 500 annually. A maximum of Rs. 1.50 lakh can be deposited in a financial year. Currently, this scheme offers an annual interest rate of 7.1%, which is determined by the government from time to time. Often, this interest rate is higher than that of bank fixed deposits.
Earn Millions by Saving 100 Rupees Daily
If you save Rs. 100 every day, you will save Rs. 3000 per month and Rs. 36,000 per year. If this amount is invested in a PPF account for 15 years, you can get approximately Rs. 9.76 lakh at maturity. Of this, approximately Rs. 5.40 lakh will be your deposited amount, while the rest will be earned as interest.
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How to make Rs. 15 lakh in 20 years?
After the maturity of the PPF account, it can be extended for another 5 years. If you continue to save ₹100 every day for 20 years, your total investment during this period will be ₹7.20 lakh. The interest earned will be approximately ₹8.77 lakh. In this way, you will have a fund of approximately ₹15.98 lakh after 20 years.
