Are you looking for safe and profitable investment options for the future? If yes, then the Public Provident Fund (PPF) scheme run by the Government of India is the perfect option for you. This scheme not only provides you high returns but also gives tax benefits on your investments.
What is PPF scheme?
PPF is a long-term savings scheme that lets investors invest at a fixed interest rate for a period of 15 years. This scheme is safe and reliable as it is backed by the Government of India.
Benefits of PPF Scheme:
High interest rates: PPF currently offers an attractive interest rate of 7.1% per annum, which is higher than other investment options in the market.
Tax Benefits: Investments under the PPF scheme are tax-free under Section 80C of the Income Tax Act 1961.
Long Term Investment: PPF is a long term investment option for a period of 15 years, which helps you grow your wealth in the long term.
Deposit Flexibility: You can deposit a minimum of ₹500 and a maximum of ₹1.5 lakh per year in a PPF account.
Partial Withdrawal: Partial withdrawal can be made from the PPF account from the 7th year onwards with certain conditions.
Loan Facility: You can get loan after 3 years on PPF account.
How to become a millionaire through PPF scheme?
You can also become a millionaire in 15 years by investing in PPF scheme. For this you just have to invest ₹ 12,500 every month. By investing continuously for 15 years, you will get a total profit of ₹ 40.68 lakh. Your total investment in this will be ₹ 22.50 lakh. Accordingly, you will get interest of around ₹ 18.18 lakh.
How to deposit ₹1 crore in PPF scheme in 25 years?
If you want to deposit ₹1 crore in 25 years, you will have to invest ₹25,000 every month in the PPF account. You will have to invest a total of ₹75 lakh in 25 years. During this period, you will get a profit of ₹ 25.58 lakh in the form of interest, taking your total amount to ₹ 1 crore.
conclusion:
The PPF scheme is an excellent investment option that can help you grow your wealth in the long term. This scheme not only provides you high returns but also gives tax benefits on your investments. If you are looking for safe and profitable investment options for the future, then the PPF scheme is an ideal option for you.
Additional Information:
PPF account can be easily opened in any post office.
To open a PPF account, you need to submit the required documents such as Aadhar Card, PAN Card and passport size photograph.
For more information related to PPF account, you can visit the official website of India Post Office https://www.indiapost.gov.in/.
