Public Provident Fund: Today we will tell you about such a scheme of the Central Government, through which you can create a fund of Rs 1 crore. Let me tell you how-
Government Scheme: If you are also looking for a government scheme to invest, then today we will tell you about such a scheme of the central government, through which you can create a fund of Rs 1 crore. Many special schemes are run by the government for the general public, in which you can earn good returns by investing money. The name of this scheme is Public Provident Fund. At this time it is the best option of investment. You can take this scheme from the post office or government bank.
You can also invest only 500 rupees
You can start investing in PPF with just Rs 500. You can invest a maximum of Rs 1.5 lakh in this account in a year and a maximum of Rs 12,500 per month. In this you get good returns. Apart from this the interest rates are also good. The maturity period of PPF is 15 years, but you can extend it over a period of 5-5 years.
How much interest will you get?
Investors currently get the benefit of interest at the rate of 7.1 percent on this scheme of the Central Government. In this scheme, the government pays interest every month after March. Apart from this, you can open a PPF account in your own name or as a guardian of a minor.
Get benefit of tax exemption
In this scheme, investors also get the benefit of income tax exemption. You can take advantage of tax exemption under section 80C.
In this way you will get 1 crore rupees
If we want to collect one crore rupees from this scheme, then we have to make this investment period of 25 years. By then, Rs 37,50,000 would have been deposited on the basis of annual deposit of Rs 1.5 lakh, on which an interest of Rs 65,58,012 would be earned at the rate of 7.1 per cent per annum. At the same time, the maturity amount would have been Rs 1,03,08,012 by then. Please note that the maturity period of PPF account is 15 years. If this account is to be extended for 15 years, then this account can be extended for the next five years.
