Government scheme: If you are looking to make a long-term investment in a solid plan, then this update is specifically for you. Today we will discuss an excellent government program in which you can earn 82.46 lakh rupees with an investment of only ten thousand rupees. This scheme is called the Public Provident Fund Scheme.
Allowed to invest a maximum of Rs 1.5 lakh in the PPF scheme
This plan is highly favored within the nation. Many individuals are putting their money into it. Currently, you are receiving a 7.1 percent interest rate by investing in this plan. Investing in the Public Provident Fund Scheme also provides you with tax benefits. In a financial year, you are allowed to invest a maximum of Rs 1.5 lakh in the PPF scheme. Simultaneously, the minimum investment threshold has been set at Rs 500.
You have the option to invest in the Public Provident Fund Scheme for up to 15 years. Following a 15-year investment period, you may choose to continue investing for an additional five years. If you are interested in investing ten thousand rupees and building a significant fund of Rs 82.46 lakh, then let’s delve deeper into the details of this investment mathematics.
To begin with, it is necessary to create an account for the PPF scheme. Once the account is opened, you must deposit 10,000 rupees monthly. In this scenario, you will receive an annual amount of Rs 1,20,000. You must allocate this sum annually towards the PPF scheme. You must deposit Rs. 1,20,000 each year in the PPF account for a duration of 25 years. By computing the present interest rate of 7.1 percent, you will accumulate Rs 82,46,412 in 25 years.