Business Desk – Right investment scheme can turn your life, you will get benefits to live your dream life. And one such scheme is Public Provident Fund which was launched by the Indian government. It is the best investment scheme for small savers.
PPF offers an interest rate of 7.1 percent annually. According to the guideline, Investors need to invest money for 15 years in a row.
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PPF has good returns, low risk, and tax-free nature which can help investors to earn Rs 1 Crore.
Invest 417 a day in a PPF account, and your monthly investment value becomes Rs 12,500. This means, per year you are investing Rs 1,50,00 in the PPF account.
Now, calculate in 15 years your total amount will be Rs 40.58 lakh. After that extend the tenure twice in blocks of five years each.
If you keep doing it at the age of 25 to 50, then the amount during maturity will be Rs 1.03 crore lakh. This is tax-free and your total interest earned will be 66 lakh and the total amount you deposited is around 37 lakh.
The best part about the PPF is it is flexible in nature and individuals can invest as low as Rs 500 per year.