If you have only ₹411 in your hand every day, you don’t need to worry about your future. Through a popular post office scheme, you can get ₹43 lakh after 15 years. This scheme is not only safe but also run by the government, so there is no risk in the investment. Let’s see how this scheme works and how much return you can get.
Which Scheme Gives This Benefit?
This great opportunity is offered by the Post Office Public Provident Fund (PPF) Scheme. It is a long-term savings plan where you can deposit a fixed amount regularly and get a big return with interest.
If you invest ₹12,500 every month, or ₹411 every day, your yearly investment will be ₹1.5 lakh. After 15 years, you will receive ₹43.60 lakh. Out of this, ₹22.5 lakh will be your invested amount, and ₹21.10 lakh will be earned as interest.
At present, the Post Office PPF Scheme offers an interest rate of 7.9%, which is higher than many other savings schemes. The best part is that both your investment and the interest earned are completely tax-free. This means you can invest safely without any tax worries.
Other Important Details
- Minimum yearly investment: ₹500
- Maximum yearly investment: ₹1.5 lakh
- Scheme tenure: 15 years (extendable by 5 years)
- Loan facility: Available between the 3rd and 6th year of account opening
- Account type: Only individual accounts (no joint accounts)
- Deposit method: Now you can deposit money online through the Post Office’s DakPay app or India Post Payments Bank, without visiting the post office.