Post Office Scheme: If you want to deposit money for your future and want your money to be safe, then Post Office PPF scheme can be very beneficial for you. This scheme is run by the government, so your money never sinks in it.
Post Office Scheme: Here I will tell you in simple language that if you deposit ₹ 50,000 every year in this scheme, then how much benefit will you get after 15 years and how this scheme will be useful for you.
Post Office PPF Scheme
PPF means Public Provident Fund, it is a government scheme where you can deposit money every year. The money deposited in it is completely safe and interest is also available on it.
The best thing about this scheme is that your money grows gradually in it. When 15 years are completed, you also get the benefit of interest along with the deposited money.
How much money will you get by depositing ₹ 50,000 every year
Suppose you deposit ₹ 50,000 in this post office scheme every year. If you keep depositing this amount for 15 years, the total deposit amount will be ₹ 7,50,000.
But you will also get interest in this. Currently, Post Office PPF is getting 7.1% interest. Interest gets added to your deposit amount every year and then interest keeps getting on that too. After 15 years, you will get a total of ₹ 13,56,070. Out of this, ₹ 7,50,000 is your deposited amount and ₹ 6,06,070 will be received as interest.
How does interest grow?
Interest in PPF account gets added to your deposited money every year. Then next year interest is received on that entire amount. In this way your money keeps increasing every year. This is called compound interest.
For example, in the first year you deposited ₹ 50,000 and got interest on it. This interest will get added to your money. Then next year interest will be received on this entire amount. This will continue for 15 years and your amount will gradually increase.
How to open a PPF account
If you want to take advantage of this scheme, then you have to go to the post office and open an account. For this you should have Aadhar card, PAN card and passport size photo.
Nowadays you can also open a PPF account through the online facility of the bank. After opening the account, you can deposit from ₹ 500 to ₹ 1,50,000 every year.
Benefits of PPF scheme
This scheme is best for those who want to save money for the future without any risk. The special thing is that the interest you get in this is completely tax free.
Apart from this, your money remains safe in it and also grows gradually. After 15 years, you get a good amount so that you can fulfill your big needs.
For whom is this scheme right
Post Office PPF scheme is right for those who want to save money for children’s education, marriage or their retirement. This scheme is very beneficial for employed people, housewives and small businessmen.
If you deposit ₹ 50,000 every year, then this small savings will become a big fund for you after 15 years. Post Office PPF scheme is for those people who want to save slowly and accumulate a large amount. In this, neither the money is lost nor there is any reduction in interest.
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