If you are planning to invest in such a scheme these days where your money remains safe and you also get good returns, then Public Provident Fund (PPF) scheme can prove to be right for you. Currently 7.1% annual interest is being given in this scheme. By investing only thousand rupees every month in this, you can easily create a fund of Rs 3.25 lakh. Along with this scheme, we are also telling you how much fund you can create by investing how much every month.
You can open an account for Rs 500
The minimum amount required to open a PPF account is Rs 500. A minimum deposit of Rs 500 is required in a financial year, while the maximum investment limit has been fixed at Rs 1.5 lakh per annum. That is, you will not be able to invest more than Rs 1.5 lakh in PPF in a financial year.
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The maturity period is 15 years
PPF account matures in 15 years. If you want, you can withdraw the entire amount after maturity. However, if you do not need the money, then it can be extended for 5-5 years. For this, you will have to extend it one year before the maturity is completed.
The lock in period is 5 years
However, money cannot be withdrawn from this account for 5 years from the year in which the PPF account is opened. After this period is over, money can be withdrawn by filling Form 2. However, if the money is withdrawn before 15 years, 1% will be deducted from your fund.
If you invest Rs 500 every month, you will get Rs 1.63 lakh
If you want to create a fund of 1.63 lakhs through this scheme, then you will have to invest 500 rupees every month for 15 years. On the other hand, if you invest 1000 rupees per month, then you will get about 3.25 lakh rupees after 15 years. Know here how much you will benefit by investing in this.
If you invest Rs 500 every month, you will get Rs 1.63 lakh
If you want to create a fund of 1.63 lakhs through this scheme, then you will have to invest 500 rupees every month for 15 years. On the other hand, if you invest 1000 rupees per month, then you will get about 3.25 lakh rupees after 15 years.