Get Rs 26 lakh by saving Rs 1000 per month in this scheme, know the great way to invest and its benefits … | Get Rs 26 lakh by saving Rs 1000 per month in this scheme, find out the investment path and its benefits

Get Rs 26 lakh by saving Rs 1000 per month in this scheme, know the great way to invest and its benefits … | Get Rs 26 lakh by saving Rs 1000 per month in this scheme, find out the investment path and its benefits

But you can extend it to 5-5 years if you want. Currently, PPF is being offered at 7.1 per cent interest. It is more profitable to invest in PPF at an early age to get higher returns.

Get Rs 26 lakh by saving Rs 1000 per month in this scheme, find out the great way to invest and its benefits ...

New Delhi: It is very important to invest in the right plan for a secure future. So you get a huge amount when you need it. If you want to make a long-term investment, a Public Provident Fund (PPF) can be a great option. In this you can save up to Rs. 26 lakhs after maturity by saving only Rs. 1000 per month. You get leverage to grow your business faster. There will also be tax savings. The PPF account matures in 15 years. But you can extend it to 5-5 years if you want. Currently, PPF is being offered at 7.1 per cent interest. It is more profitable to invest in PPF at an early age to get higher returns. (Get Rs 26 lakh by saving Rs 1000 per month in this scheme, find out the investment path and its benefits)

What will be the return on investment in 15 years?

The investment in PPF is for a period of at least 15 years. In such a case, if you deposit Rs.1000 per month for 15 years, you will deposit a total of Rs.1.80 lakhs. At the current interest rate of 7.1 per cent, you will get Rs 3.25 lakh after 15 years. This means that you will get a benefit of Rs 1.45 lakh.

Learn how to get Rs 26 lakh

PPF account is extended every 5 years. If you want a good corpus at the time of retirement, keep extending it and you will have a lot of money by the age of 40. This means that in 40 years, the money in your PPF account will increase to Rs 26.32 lakh. For example, if you add Rs.1000 from the age of 20, your corpus will be Rs.26.32 lakhs after retirement.

Account opening process

A PPF account can be opened at any post office or bank. It can be opened in your own name or with the help of a parent for a minor. However, it does not have a joint account facility. You can nominate anyone you want. A minimum investment of Rs.200 is required to open a PPF account. The maximum investment limit has been fixed at Rs 150,000 per annum. This amount can be deposited in maximum 12 installments or lump sum per annum.

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Get Rs 26 lakh by saving Rs 1000 per month in this scheme, find out the investment path and its benefits

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