PPF: You have the potential to become a millionaire by investing merely Rs 12,000 each month. Discover the detailed calculations regarding fixed returns, interest rates, and investments associated with this government scheme. If you are looking to secure and grow your savings, this government initiative presents an excellent opportunity for you. By contributing just Rs 12,000 monthly, you can achieve millionaire status in 25 years. This scheme carries no market risk, and the government guarantees fixed returns.
The scheme is known as the Public Provident Fund (PPF).
Interest Rate: 7.1% (set by the Government)
Investment Duration: 15 to 25 years
Tax Advantages: Exemption under Section 80C
Market Risk: None!
Now, let’s explore the potential funds generated by investing Rs 3,000, Rs 6,000, and Rs 12,000 monthly in this scheme!
What will be the returns if I invest Rs 3,000 each month?
If you contribute Rs 3,000 every month to your PPF account:
– Annual Investment: Rs 36,000
– Total Investment over 25 years: Rs 9,00,000
– Estimated Interest at 7.1%: Rs 15,73,924
– Total Funds: Rs 24,73,924
This means you could accumulate approximately Rs 25 lakh in 25 years from a monthly investment of just Rs 3,000.
And from here, you can easily calculate how much you can get for a monthly investment of Rs 12,000 for the same 25 years.
To open a PPF account, you will need:
– Aadhar Card and PAN Card
– A Savings Account in a Bank
– Access to Net Banking or Mobile Banking
Where can you open a PPF account?
– Banks: All government and private banks, including SBI, HDFC, ICICI, PNB, and BOB.
– Post Office: You can also open a PPF account at the post office.
Should you consider investing in this scheme?
1. If you seek risk-free, secure, and guaranteed returns, PPF is an ideal investment choice.
2. It offers a remarkable opportunity to become a millionaire in 25 years with a monthly investment of just Rs 12,000!
3. Investing in PPF is safer than the stock market and comes with a government guarantee.