Wants to secure your future? Then today’s article is just for you. Right now everyone wants to invest their money in a good and secure scheme. If you are searching for a plan to invest your funds that provide excellent returns and ensure your money’s safety, then this information will be highly significant for you. Today we will inform you about a government program that allows you to make millions through your investments. Let’s discover.
To achieve secure and high returns, consider investing in the Public Provident Fund (PPF) scheme offered by the State Bank of India (SBI). Putting your money into SBI’s PPF scheme is the top choice for achieving better returns. It is a government program that offers investors great profits while also reducing tax expenses. Let’s explore SBI’s Public Provident Fund (PPF) program.
SBI Public Provident Fund Program
The SBI PPF Scheme is a government initiative that provides an interest rate of 7.1 percent. You can begin investing in this plan with only 500 rupees each year. The upper cap for yearly investment is Rs 1,50,000 rupees. The duration of this investment scheme is 15 years. You can lengthen it in increments of 5 years if you prefer. Moreover, throughout the 15-year investment duration, you can utilize the loan option from your account as well.
Invest 50,000 rupees and receive 13 lakh rupees back
By investing Rs 50,000 each year in the SBI PPF scheme, your cumulative investment after 15 years will reach 7,50,000 rupees. You will receive interest at a rate of 7.1 percent. Based on estimates, in 15 years, you will obtain a sum of 13,56,070 rupees. Over 6 lakh rupees from this total will strictly be interest.
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