PPF Investment: Public Provident Fund (PPF) is one of India’s most popular small savings schemes. This scheme is especially for those who want safe and good returns in the long term. Investing in PPF keeps your money safe and earns you good interest. Currently, the interest rate on this scheme is 7.1 percent.
Tax-Free Benefits under EEE Scheme
The biggest advantage of PPF is that it is included in the government’s EEE (Exempt-Exempt-Exempt) scheme. This means that the amount deposited, the interest earned on it, and the amount received at maturity are completely tax-free. In addition, you can also avail tax exemption on your investment every year.
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Become a Millionaire with Small Investments
With PPF, you can accumulate a large sum of money in the long term even with small investments. For example, if you save ₹2,000 every month and invest it in PPF, after 15 years, at an interest rate of 7.1 percent, you can accumulate approximately ₹6,50,913. This means that even by saving on small daily expenses, you can build a large fund for the future.
PPF Investment Period
Any Indian citizen can open a PPF account. You can open this account at any bank or post office. A PPF account can also be opened in the name of a child. The basic maturity period of this scheme is 15 years, but after that, you can extend it as many times as you want in intervals of 5 years.
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PPF Investment Limit
In this scheme, a minimum of ₹500 and a maximum of ₹1.5 lakh can be invested annually. This flexibility is beneficial for both small and large investors.
PPF Interest Rate
Compared to bank FDs or post office time deposits, the interest rate in PPF is higher. Since April 2023, the interest rate in this scheme has been fixed at 7.1 percent. This means that your money will not only be safe, but will also grow into a substantial amount over the long term.
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Adarsh P
Adarsh Pal is a content writer at Timesbull Media. He specializes in writing news related to industry updates, the automotive sector, banking, telecommunications, the travel sector, and personal finance. Adarsh has previously worked with several digital media channels. He is skilled at presenting news accurately and disseminating information based on...
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