Public Provident Fund : People invest for the purpose of good returns. If you want to invest without any risk, then Public Provident Fund can prove to be a better option. Investors can also become a millionaire by investing in this government scheme. This is a government guaranteed scheme.
You can become a millionaire by investing in PPF
If you invest one lakh rupees in Public Provident Fund every year, then you can become a millionaire after a certain time. This scheme matures in 15 years. If you want, you can deposit one lakh rupees in lump sum in this government scheme or invest Rs 8,334 every month.
How much interest is available in PPF
Currently the government is giving 7.1 percent interest on investment in PPF.
Know how you can become a millionaire by investing one lakh rupees
If you invest one lakh rupees in PPF account every year, then you will have to carry forward the investment in the scheme after completion of 15 years. Any investor can extend the investment for 5 years at a time. Investors get the option to extend their investment three times. This means that you will have to continue your investment for 30 years.
How much will be the investment in 30 years?
In 30 years, investors will have a total of Rs 30,00,000 lakh deposited. In which, according to the interest rate of 7.1 percent, you will get an interest of about Rs 73,00,600. This means that after 30 years, investors will get a fund of Rs 1,03,00,600 on investing in PPF scheme.
