Post Office: Every individual seeks to invest their money in opportunities that yield substantial returns. The government offers various investment schemes that allow individuals to earn significant profits through their investments. One such option is the Post Office Public Provident Fund (PPF) scheme, which enables you to contribute a modest amount while potentially accumulating a considerable sum in interest.
The PPF scheme is designed for long-term investment. Participants can invest between Rs 500 and Rs 1.5 lakh annually, with a maturity period of 15 years, requiring consistent contributions throughout this duration.
How to make Rs 70 into Rs 6,78,035
Regarding the interest rate, investors can expect an annual return of 7.1 percent. The scheme’s maturity period is fixed at 15 years but can be extended in increments of five years. The government may adjust the interest rate quarterly. Here’s how you can achieve millionaire status through this scheme: if you save Rs 70 daily, you will accumulate approximately Rs 25,000 in one year. By consistently investing this amount in the Post Office PPF scheme for 15 years, your total investment will reach Rs 3,75,000. With an interest rate of 7.1 percent, the total amount at maturity will be Rs 6,78,035, of which Rs 3,03,035 will be earned as interest. Thus, your profit will amount to around Rs 3 lakh.
The PPF scheme is an excellent choice for those looking to make secure long-term investments while achieving favorable returns. Therefore, consider starting your daily savings of Rs 70 today to create a substantial fund for your future!
This calculation serves as an example only. Actual interest rates and returns may vary. It is advisable to consult a financial advisor prior to making any investments.