Investment Tips: Dream of becoming a millionaire will be fulfilled, just follow 15+5+5 formula


Being a millionaire has become everyone’s dream. We find it very big and difficult to prepare a fund of crores of rupees, but it is not so. Now funds of crores of rupees can be easily made through Public Provident Fund- PPF. For this, you have to apply a formula of 15+5+5.

How does 15+5+5 formula work? (How Does 15+5+5 Formula Work?)

Currently PPF is getting 7.1 percent interest. This scheme is matured in 15 years. However, according to 15+5+5 formula you will have to invest 25 years continuously. Now the question comes as to how to invest for 25 years?

The answer is that you have to extend PPF twice after maturity. According to the rules, PPF can be extended for five years. In such a situation, you have to extend PPF twice. After this extension you can invest for 25 years.

How to prepare a fund of crores of rupees (PPF Calculator)

According to PPF Rule, only up to Rs 1.5 lakh can be invested in a year. In such a situation, if you invest 1.5 lakh rupees annually for 25 years, then you will become a millionaire.

For example, if you invest for 25 consecutive years, a total of Rs 37,50,000 would have been invested. You will get an interest of Rs 65,58,015 according to the Mojuda interest rate. In this way, the total PPF fund after 25 years will be ready for Rs 1,03,08,015.

Let us tell you that for PPF extension, you will have to give the application before maturity. The extension form will be deposited in the bank or post office where the PPF account is open. If you do not fill the form from time, then your PPF account will not be able to extend for five years.