You can invest a maximum of one lakh 50 thousand rupees annually in PPF account. On which an interest of 7.1 percent is earned annually. If you invest 5 thousand rupees monthly from the age of 35, then in a year there will be an investment of 60000 thousand rupees.
Post Office: The post office runs many investment schemes for retirement and life before that. By investing in which you can add a good amount of funds to meet your future needs. If you are also worried about your retirement, then the Public Provident Fund Scheme of the Post Office can be a better option for you. Because in this scheme a small deposit can add a strong fund in the long run. In which income tax exemption is also available. Let us know how, even after crossing the age of 35, you can accumulate a huge fund till retirement.
There will be a fund of 41 lakhs in 25 years – You can invest a maximum of one lakh 50 thousand rupees annually in the PPF account in the post office . On which an interest of 7.1 percent is earned annually. If you invest 5 thousand rupees monthly from the age of 35, then in a year there will be an investment of 60000 thousand rupees.
Whereas the maturity time in PPF is 15 years, which is extended twice for 5-5 years. In such a situation, the amount of principal + interest that will be added to your account in 25 years will be Rs 41,23,206 lakh. In this, there will be 15 lakhs of investment and 26.23 lakhs of interest.
Investment made in PPF is safe – Many people are worried about its safety before investing. Here let us tell you that the investment made in PPF is completely safe. Apart from the post office, you can also open a PPF account in a bank. Where you will get equal interest.
The biggest advantage of this 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. Thus, investment in PPF comes under EEE category. Most importantly, the government sponsors small savings schemes. Therefore, the subscribers get complete protection on investment in this.
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