SBI PPF Scheme: Nowadays most of the people keep thinking about investing in some scheme or the other. You should also invest in some scheme, because you may need money anytime in future. Today we have brought information about our special scheme (SBI PPF Scheme) for the customers of SBI, India’s largest government bank.
sbi ppf scheme
SBI’s Public Provident Fund Scheme (PPF) is a scheme in which you can invest for a long time. The bank is giving the benefit of good interest rates to its customers under this scheme.
In this scheme, your investment amount matures after 15 years. Currently, interest is being given at the rate of 7.1 percent in this PPF scheme. The government keeps revising the interest rates from time to time.
You can start investing with Rs 500
A minimum of Rs 500 and a maximum of Rs 1.5 lakh can be deposited annually in this Public Provident Fund Scheme. Here you can also invest in the name of your children to secure their future. At the same time, the interest received on it also remains out of the scope of tax under Section 10.
Account can be opened online
Currently, 7.1 percent annual interest is being given in this PPF scheme which matures in 15 years. Apart from the bank, you can also open a PPF account in the post office. State Bank of India (SBI) is also providing online account opening facility to its customers. You can open it with the help of your savings account. For this you will not need to go to the bank branch. You can open it by logging into your account online.
This much profit on monthly investment of Rs 8000
If you invest Rs 8000 every month in this special scheme of State Bank, you can collect funds worth lakhs. According to the calculations, by depositing Rs 8000 per month, Rs 96,000 will be deposited in one year and the total deposit amount in 15 years will be Rs 14,40,000.
Interest at the rate of 7.1 percent will be given on this amount deposited by you. So according to the calculation, a fund of Rs 25,24,544 will be ready on maturity. The total amount invested by you in this maturity amount (SBI PPF Scheme) will be Rs 14,40,000 and you will get interest of Rs 10,84,544.