Today we are going to tell you about a very wonderful scheme of the government, in which you can collect a huge fund of Rs 16.27 lakh in a few years by investing just five thousand rupees.
On the auspicious occasion of Diwali, you can secure your future at the financial level by investing in this scheme. The name of the scheme we are going to tell you about today is the Public Provident Fund Scheme.
What is the PPF Scheme
The Public Provident Fund Scheme is a very popular scheme that offers you many benefits. Currently, you are getting an interest rate of 7.1 percent on investing in this scheme. To invest in this scheme, you have to invest your savings for 15 years. After the maturity period of 15 years is over, you can extend your investment period for five years.
How much interest do you get?
Investing in this scheme gives you many great benefits. By investing in this great and reliable scheme, you are currently getting the interest rate of 7.1 percent annually. The Public Provident Fund Scheme is also very quite popular in our country. let us know more about this amazing scheme.
How much can you invest?
In this scheme, you can invest a minimum of Rs 500 and a maximum of Rs 1.5 lakh per year. If you want to invest in a good scheme for the long term, then this scheme can prove to be the best for you.
Let us understand with the help of mathematics how you can invest five thousand rupees and collect Rs 16.27 lakh in a few years. For this, first of all, you have needed to open an account in the PPF scheme in bank or post office.
How to get a return of Rs 16 lakh
After opening an account in the PPF scheme, you have to save five thousand rupees every month and invest Rs 60 thousand annually in this scheme. You have to make this investment for a total of 15 years. If calculated at the current interest rate of 7.1 percent, you will have a total of Rs 16,27,284 at the time of maturity.