If you want to invest, then there are many government schemes under which you can invest and earn huge profits. Before investing money in any scheme, it is very important to know about it well otherwise the hard work of a lifetime can be wasted in a jiffy.
Published: January 02, 2022 03:19:46 pm
New Delhi. If you want to invest, then there are many government schemes under which you can invest and earn huge profits. Before investing money in any scheme, it is very important to know about it well otherwise the hard work of a lifetime can be wasted in a jiffy. Before destroying the hard work of life, it is necessary to know about the scheme well otherwise the hard work of life can be wasted in a jiffy. At present, there are many government schemes under which one can earn good profits by investing a small amount. Investing in PPF can get good returns by investing less money.
invest in ppf
You can invest with 500 rupees
You can start investing in Public Provident Fund (PPF) with as little as Rs 500. One can invest a maximum of Rs 1.5 lakh in PPF in a year and a maximum of Rs 12500 per month. The maturity of PPF is 15 years and you can extend it for 5 to 5 years.
how much interest
The central government changes the interest received on the PPF account every quarter. The interest rate usually ranges from 7 per cent to 8 per cent. However, depending on the economic situation, it may decrease or increase slightly. Currently, the interest rate is 7.1 per cent, which is compounded annually.
Anyone can become a millionaire by investing in this scheme. One has to invest in this scheme for a minimum period of 25 years. According to the annual investment of 1.5 lakh rupees, 37 lakh 50 thousand rupees are deposited. On this, interest of Rs 65 lakh 58 thousand 012 will be made at the rate of 7.1 percent per annum and the maturity amount will become 1 crore 03 lakh 08 thousand 012.
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Benefits of the scheme
Talking about the benefits of this scheme, you will also get the benefit of tax exemption from this. You can avail tax exemption under section 80C of Income Tax.
Source: Patrika : India's Leading Hindi News Portal by www.patrika.com.
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