PPF- A fund of Rs 43 lakhs will be created by saving Rs 411, Know how

PPF Scheme- If you want to get good returns in a short time by making a safe investment in the post office, then the Public Provident Fund (PPF) scheme can be a great option for you. This scheme is especially beneficial for those who want to create a big fund with less investment and also want to save tax.

A fund of Rs 43 lakh will be created on depositing Rs 411

PPF account is opened for 15 years and currently it is getting 7.9% annual interest. In this scheme, you can deposit a minimum of Rs 500 to a maximum of Rs 1.5 lakh every year. If you save Rs 12,500 every month i.e. about Rs 411 daily, then a total of Rs 1.5 lakh will be deposited in a year. After 15 years, you can get about Rs 43.60 lakh.

Out of this, around 21 lakh rupees will be received in the form of interest and the special thing is that both the deposit amount and the interest are tax-free. This tax exemption is available under section 80C of Income Tax.

100% money is safe

This scheme is fully supported by the government, so your money is completely safe. The interest rate on PPF is also higher than that on bank FD, so it is considered the first choice of those who invest for a long time. Depositing money in it is also very easy. If you want, you can deposit the entire amount at once or you can also invest in 12 installments.

If needed, you can also take a loan from the PPF account, which is available for the first five years of opening the account. This facility proves to be very helpful in case of emergency. The post office has also provided the facility of depositing money online in PPF. You can easily transfer money from your bank account to the PPF account with the help of India Post Payments Bank (IPPB) or DakPay app. For this, the IPPB account has to be linked to your bank account. Then select the PPF option in the app and enter the account number and customer ID.

If you want your savings to be safe and a big fund to be created for the future, then this scheme of the post office is a great opportunity for you. Tax savings, safe investment and good returns—all these three benefits are available together in PPF.

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