PPF i.e. Public Provident Fund is a government investment scheme run by the central government, which ensures complete safety of your money.
The huge fluctuations in the stock market keep increasing the concern of investors, especially small and new investors. Both stock and mutual fund investment options are risky. In such a situation, if you want an investment with safe and guaranteed returns by staying away from market risk, then Public Provident Fund (PPF) can be a great option for you.
PPF: A safe and reliable investment
PPF i.e. Public Provident Fund is a government investment scheme run by the central government, which ensures complete safety of your money. At present, PPF is getting an annual interest of 7.1%. This is the annual compound interest rate. You can open a PPF account in any bank or post office in the country.
Special features of PPF
You have to invest at least ₹ 500 annually in PPF.
You can deposit up to ₹ 1.5 lakh in a year.
If you want, you can invest a lump sum or deposit money in installments.
If you deposit ₹ 1 lakh every year, you will get an amount of more than Rs 27 lakh after 15 years.
How much is the tenure?
The PPF scheme matures in 15 years. If you invest ₹ 1 lakh every year, you will get a total of ₹ 27,12,139 on maturity. This includes a fixed interest of ₹ 12,12,139 in addition to the ₹ 15 lakh you have invested. Any citizen of India can open an account in this government scheme. You can also start investing in PPF in the name of your minor child. However, keep in mind that only one PPF account can be opened in the name of a person.
(Disclaimer: This article is written for informational purposes only. Please consult your financial advisor before making any investment or taking any financial risk. Businessleague.in will not be responsible for any kind of risk.)
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