On depositing 1000 rupees every month, you will get 12 lakh rupees, know about this scheme

Public Provident Fund: Public Provident Fund (PPF) is a great investment option. The risk in investing in PPF is almost zero as it is fully protected by the government. Investing in PPF can give you huge profits. You have to choose the investment tenure carefully. Very good returns can be earned from PPF by investing over a long period of time. You can get more than Rs 12 lakh by just depositing Rs 1000 every month.

Rate of interest

• The central government revises the interest rate on the PPF account every quarter.
• The interest rate is usually 7 percent to 8 percent, which may increase or decrease slightly depending on the economic situation.
• At present, the interest rate is 7.1 percent, which is compounded annually. This is more than the fixed deposits of many banks.
• According to the rules, a minimum of Rs 500 and a maximum of Rs 1.5 lakh per year can be deposited in the PPF account.

tenure

• The maturity period of PPF account is 15 years. After that all the money can be withdrawn
• Apart from this, the PPF account can be increased further for every block of 5 years.

investment security

• This scheme is backed by the government, so investment in it is completely safe.
• In this, there is a sovereign guarantee on the interest earned.

loan facility

• Subscribers can avail loan against PPF account at a suitable rate of interest.
• By opening the account, you can take advantage of the loan in the third and sixth years.
• This is especially beneficial for those applying for a loan in the short term.

Know the account of this scheme

• If you deposit 1000 rupees every month in PPF account, then in 15 years the investment amount will be 1.80 lakh rupees. An interest of Rs 1.45 lakh will be available on this.
  That is, a total of Rs 3.25 lakh will be available on maturity.
• If you continue to invest Rs 1000 every month for 5 years and extend your PPF account, your total investment amount will be Rs 2.40 lakh.
  Interest of Rs 2.92 lakh will be available on this amount. In this way you will get Rs 5.32 lakh on maturity.
• If you extend it thrice for 5-5 years (total thirty years) after the maturity period of 15 and continue investing Rs 1000 every month then the total amount invested by you will become Rs 3.60 lakhs . The interest on this will be Rs 8.76 lakh. In this way, you will get a total of 12.36 lakh rupees on maturity.

(Here ABP News is not giving any investment advice in any scheme. The information given here is for informational purpose only. Consult experts before depositing money in any scheme)

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