Public Provident Fund: PPF Scheme is a great savings scheme that not only keeps your money safe but also returns it with growth. If you are planning to invest for a long period then PPF can be a great option for you.
Investing in PPF gives you many benefits. This is a long-term savings scheme, in which your money is safe. Apart from this, the interest received in it is also good and it also helps you in saving tax.
What is required to open a PPF account
Aadhaar card
PAN card
Passport size photo
Residence certificate
Identity card
Mobile number
Nominee form
Form A
By investing in PPF, you not only get good returns but it is also completely safe. Apart from this, the interest received in it is compounded, due to which your money grows fast.
Benefit of tax exemption
By investing in PPF, you also get the benefit of tax exemption. You can save tax on investments up to Rs 1.5 lakh annually.
money will you get after 15 years
Suppose you invest Rs 50,000 every year. At the current interest rate of 7.10%, after 15 years you will have a fund of about Rs 6 lakh 17 thousand.
And if you do not withdraw this money till maturity, then after 15 years you will have a fund of about Rs 13 lakh 56 thousand.
PPF is a long-term investment, so keep your needs and financial goals in mind before investing in it. If you are looking for a safe and long-term investment, then PPF can be a good option for you.
PPF is a great savings option, but it is a long-term investment. Therefore, invest according to your financial goals.
These figures are approximate and the actual returns may change with changes in the interest rate. Contact your nearest post office for more information about PPF.
