Retirement Planning:Â You can create a huge fund by investing in PPF scheme. If you invest Rs 12,500 every month, you will get lakhs of rupees after 15 years.
Retirement Planning: By investing in Public Provident Fund, you can get a huge fund on retirement. We are telling you about its details.
Public Provident Fund Interest Rate: After retirement, the regular source of income ends. In such a situation, if you want to live a good life after retirement, then it is necessary to have a huge fund in hand. For this, you can get good returns in future by investing in a scheme like PPF.
You can open a PPF account in any bank or post office. You can invest in this account for a total of 15 years. At the same time, the government gives a compounding interest rate of 7.1 percent on the deposit amount.
In this account, from a minimum amount of Rs 500 to Rs 1.50 lakh can be invested in a financial year. In such a situation, a maximum of Rs 22.50 lakh can be invested in this account in 15 years.
After completion of 15 years in this scheme, you can also extend it for 5-5 years. By investing in this scheme, you will get a rebate of Rs 1.50 lakh under Section 80C of Income Tax.
If a person invests Rs 500 every month under this scheme, then he will get Rs 1.62 lakh on maturity.
At the same time, if you invest Rs 12,500 every month in this scheme to get a big fund according to retirement, then you will get a return of Rs 40.68 lakh on retirement.
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