Post Office PPF: Today we are going to tell you about such a scheme of post office, where by saving 150 every day, you will be able to create a fund of 20 lakh rupees in just 20 years.
New Delhi: There is a risk factor associated with any investment. People invest according to their ability. If you are one of those people who do not want to take risk then post office small savings schemes can be the best option for you. Today we are going to tell you about a scheme of post office where the risk is negligible and the returns are also good. We are talking about the Post Office Public Provident Fund (Post Office PPF scheme).
Very popular scheme
Let us tell you that this scheme is quite popular. Especially the Public Provident Fund scheme is quite popular among the middle class. At the same time, many leaders have also invested in it. The special thing is that even a modest investment in this scheme can give returns of lakhs of rupees in the long term. For this you just have to invest Rs 150 everyday. Although the maturity period of this account is 15 years, but you can extend it twice for 5-5 years. Along with this, you also get tax benefit in this plan. At the same time, the most important thing is that you get 7.1 percent interest annually in this plan and which also gives you the benefit of compound interest every year.
In this way a fund of 20 lakh rupees will be ready
If you are 25 years old then this is the best chance to get big returns in small amount. Experts say that if you have an income of up to 30-35 thousand rupees, then in addition to any other savings, initially you can save 100-150 rupees per day. This savings can give you an additional fund of more than 20 lakh rupees at the age of 45, so that you can easily meet your big needs while working.
Know the complete calculation here
If you invest in PPF in terms of saving Rs 150 daily, then it will be Rs 4500 monthly.
On investing Rs 4500 every month, the annual investment will be Rs 54 thousand.
The total investment will be Rs 10.80 lakh in 20 years.
In terms of compounding of 7.1 percent per annum, in this, your fund will be ready up to more than 20 lakhs in 20 years.
Tax benefits in PPF
The biggest advantage of the PPF scheme is that it provides tax benefits under section 80C of the Income Tax Act. In this, deduction can be taken for investment up to Rs 1.5 lakh in the scheme. The interest earned and maturity amount in PPF is also tax free. In this way, investment in PPF comes under the ‘EEE’ category.
Most importantly, the government sponsors small savings schemes. Therefore, the subscribers get complete protection on investment in this. In this, there is a sovereign guarantee on the interest earned.
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