Post Office Best Scheme: People like to invest in post office schemes. If you are looking for a reliable investment, then invest in the PPF scheme of the post office. You will know what fund will be created on maturity by investing Rs 2000.
Post Office Best Scheme: The post office does not only deliver letters, but also gives great opportunities to increase the savings of your hard earned money. Apart from normal accounts, it offers excellent options of many money making schemes like Recurring Deposit (RD), Time Deposit (TD), Monthly Income Scheme (MIS) and Public Provident Fund (PPF). However, among all these, PPF i.e. Public Provident Fund is a reliable and safe scheme run under the supervision of the Central Government.
So let us talk about this PPF scheme today and know that if you deposit only ₹ 2,000 in it every month, then how big an amount will you have in your hand after 15 years?
What is the calculation of interest rate?
Let us tell you that the Post Office PPF scheme is getting a great annual interest of about 7.1% nowadays. In this trusted government scheme, you can open your account with only ₹ 500. The minimum deposit amount required in a year is Rs 500, while the maximum deposit amount in a year is Rs 1.50 lakh.
The special thing about this scheme is that you do not need to pay the entire amount at once to deposit the money, you can easily pay it in installments as well. Within a year, you can deposit a maximum of 12 installments, that is, you can choose the option of one installment every month.
What will happen to the fund after 15 years if you deposit ₹ 2,000 in PPF?
Let us assume that if you deposit ₹ 2,000 in the Public Provident Fund (PPF) account every month, then your annual investment will be ₹ 24,000. Then your PPF account matures in 15 years, but if you want, you can extend it for a period of 5-5 years.
If you deposit ₹ 2,000 every month in this PPF scheme of the post office, then your total investment in a year will be ₹ 24,000 and in 15 years it will increase to about ₹ 3,60,000. On this investment, the investor will get an interest (return) of about ₹ 2,90,913. In this way, after 15 years you can get a total fund of about ₹ 6,50,913.
Let us tell you that you can open a PPF account in any bank other than the post office. (Note: This article is for information only and should not be considered as an investment advice in any way, suggest consulting financial advisors for investment)
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