Public Provident Fund (PPF): PPF account can be opened through post office and bank. With this help people add a lot of funds.
Public Provident Fund: Public Provident Fund (PPF) is considered one of the best investment options. Customers are getting better returns by investing in it. Presently PPF account holders are being given interest at the rate of 7.1 per cent per annum. That is, more than the fixed deposit (FD) of the banks. PPF account can be opened through post office and bank. With this help people add a lot of funds.
If you invest one thousand rupees a month in PPF, then after 15 years you can get an estimated return of Rs 3.21 lakh. The specialty of this scheme is that you can get big amount in future by investing small amount.
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Extension is also available for 5–5 years after maturity. That is, if you increase your investment of Rs 1000 every month by the completion of 15 years maturity period for the next five years, then you will get a total estimated return of Rs 5.30 lakh. In PPF, you can invest from Rs 500 to Rs 1,50,000 annually.
Keep in mind the approximate term is being used because the interest on PF is reviewed every 3 months. It is also worth noting that the PPF account has a lock-in period of 5 years.
In this era of Corona, the rate of interest of all investment schemes has been drastically reduced. However, PPF ie Public Provident Fund Scheme is a safe and good return scheme for the investors.
