Public Provident Fund: Even today people’s trust in PPF remains intact as before. This is an investment on which you get good interest and tax exemption benefits.
People’s trust in the Public Provident Fund is still intact as before. This is an investment on which you get good interest. Also the benefit of exemption from Income Tax. If you invest 1000 rupees in PPF every month i.e. 34 per day, then this amount reaches lakhs of rupees. That is to say, with a small investment, you can make a huge amount of more than 18 lakhs. Also Read: Fixed Deposit will get the highest interest of 7.75%, invest here
This is the trick to convert thousands into lakhs
Actually, the PPF account matures in 15 years and the account holder can withdraw all his money. But if you want to keep the account running instead of withdrawing money, then you can also do it very easily. After 15 years, you can extend the PPF account as many times as you want for five years. During this, if you want to invest in it every month or you can keep the account running without investment. If you have opted for no investment, interest will continue to accrue on the deposit in the account. At present, 7.1 percent interest is being given on this. Also Read: Big gift to central employees and pensioners! Know details
Total calculation
If you invest Rs 1000 every month in PPF and continue for 15 years, then you will deposit a total of Rs 1.80 lakh. Instead of this deposit, you will get Rs 3.25 lakh after 15 years. In this, your interest is Rs 1.45 lakh at the rate of 7.1%. After the maturity of the PPF policy, if you continue for 5 years and continue to invest Rs 1000 every month in it, then after 5 years the amount of Rs 3.25 lakh will increase to Rs 5.32 lakh.
After 5 years, if you extend the PPF investment again for 5 years and continue to invest Rs 1000, then after the next 5 years the money in your PPF account will increase to Rs 8.24 lakh. If you extend the PPF account for the third time for 5 years and continue investing 1000 rupees, then the total investment period will be 30 years. The amount in the PPF account will increase to Rs 12.36 lakh.
For the fourth time, we tell the account forward and continue investing Rs 100 as before, then after the next 5 years in your PPF account, that is, in the 35th year, the money in your PPF account will increase to Rs 18.15 lakh.
In this way you can make more than 18 lakh rupees with the help of investment of only thousand rupees. You can do this only through provident fund. The trick here is to be consistent in your investment pattern. Make full use of PPF policy provisions. All you have to do is keep putting just Rs 34 towards the fund on a daily basis.
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