If you believe that investing always necessitates a significant sum of money, that is not the case. There are numerous plans available where you can begin investing with amounts like ₹ 100, ₹ 250, and ₹ 500. PPF, SIP, SSY, and RD are examples of these schemes. By investing just Rs 500 monthly in these schemes, you can accumulate significant wealth. Currently, the majority of programs take advantage of compound interest. In this scenario, the more extended the investment period, the greater the potential for your money to grow. Discover here the amount of money you will receive at maturity by investing Rs 500 each month in schemes such as PPF, SIP, SSY, and Post Office RD.
SIP
With SIP, you have the opportunity to invest in mutual funds. Nevertheless, SIP is associated with the market, which is regarded as risky. However, SIP has experienced excellent returns in recent years. This is why the popularity of SIPs has swiftly risen in recent days. Analysts estimate that SIP provides an average yield of 12%. Under these circumstances, individuals gain substantial profits from SIP over the long term. The positive aspect is that in SIP, you can consistently raise the sum you invest based on your capacity. If you compute at a rate of 12 per cent, investing Rs 500 monthly in SIP will yield a maturity amount of Rs 2,52,288 after 15 years, based on the 12 per cent interest rate. Simultaneously, after two decades, the total amount will be Rs 4,99,574.
PPF
If you’re seeking a secure investment, the Public Provident Fund (PPF) could be a beneficial option for you. This is a government program where investments can begin at Rs 500. A minimum investment of 500 rupees per year is required. In this plan, you enjoy the advantages of compound interest at a rate of 7.1 percent. This plan reaches maturity in 15 years. If you invest 500 rupees each month, then you will end up depositing 6000 rupees every year. As per the PPF calculator, after 15 years, you will accumulate Rs 1,62,728 from it. Conversely, if you maintain this strategy for an additional 5 years, after 20 years, you will accumulate Rs 2,66,332.
SSY
As a father of a daughter, you can also participate in Sukanya Samriddhi Yojana. This program is operated by the government to ensure the future of daughters. You can invest a minimum of Rs 250 and a maximum of Rs 1.50 lakh each year in this scheme. Currently, the program provides an interest rate of 8.2 percent. The investment must be done for 15 years, and the plan reaches maturity in 21 years. If you put 500 rupees into this plan each month, after 15 years, your total expenditure will be 90 thousand rupees. From ages 15 to 21, you won’t invest any money, but your sum will keep accumulating interest at a rate of 8.2 percent. Upon maturity, you will receive Rs 2,77,103.
Post Office RD
Post Office RD is also a better option. Post office RD is for 5 years. At present, it is getting interest at the rate of 6.5 percent. You can start investing in Post Office RD from Rs 100. But if you deposit Rs 6000 annually at the rate of Rs 500 every month, then your total investment will be Rs 30,000, on which you will get Rs 5,681 interest. On maturity, you will get Rs 35,681.
