PPF Scheme Latest Update: A lot of craze is being seen among the people regarding the Central Government’s PPF scheme.
This is such a scheme of the government, in which investors get funds worth lakhs of rupees at one go. Today we will tell you how you will get full Rs 42 lakh in PPF scheme. Yes… Along with government guarantee, money security is also available in this. Public Provident Fund is the best option.
PPF is the best option for investment
PPF scheme is the best option for investing money for long term. You can invest up to Rs 1.5 lakh in it every year. In this you get the facility of compound interest. Along with this, the ups and downs of the market have no effect on such government schemes.
How to get 42 lakh rupees
If you invest 5000 rupees every month in PPF scheme. So your investment for the whole year will be Rs.60,000. If you invest it for 15 years, then on maturity your money will be 16,27,284. If you increase the deposit for the next 10 years in a period of 5-5 years, then after 25 years your fund will be around 42 lakhs (Rs 41,57,566). In this your contribution will be Rs 15,12,500 and interest income will be Rs 26,45,066.
Where can you open an account?
You can start investing in the Public Provident Fund Scheme with a minimum of Rs 500. You can open it anywhere from your nearest post office or bank. From January 1, 2023, the government is giving the benefit of interest at the rate of 7.1 percent in this scheme and the maturity of the PPF scheme is in 15 years.
There is also a chance to increase it in blocks.
In this scheme, account holders can apply to increase it in a block of 5-5 years. In this, he also gets the option of continuing the contribution or not.
You can also apply for loan, benefit of tax exemption is also available in PPF scheme, in this scheme you can avail tax exemption under section 80C. The amount earned by way of interest in this scheme is also tax free. You can also apply for a loan after completion of 5 years in this scheme.
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