Want to invest in something? But can’t figure out where? Then this article is for you. Everyone wants to put their money into something that will give them a good return. The government offers various investment schemes where people can make decent profits. One of these is the Post Office PPF, or Public Provident Fund Scheme. By investing a small amount, you can build a substantial fund through this scheme, and you could earn interest in the lakhs.
Post Office PPF Scheme
The Post Office PPF scheme is designed for long-term investments. You can invest anywhere from Rs 500 to Rs 1.50 lakh each year. The scheme has a maturity period of 15 years, meaning you need to keep investing regularly for that entire time. The interest rate for the PPF scheme is currently 7.1 percent per year.
If you save Rs 70 daily, you could make a profit of Rs 3 lakh
If you save Rs 70 every day, you’ll end up with around Rs 25,000 in a year. You should invest this amount consistently in the Post Office PPF scheme for 15 years. By putting in Rs 25,000 each year for 15 years, you’ll have invested a total of Rs 3,75,000. With the 7.1 percent interest rate, you’ll receive about Rs 6,78,035 when the scheme matures. Out of that, Rs 3,03,035 will be your interest, giving you a profit of around Rs 3 lakh.