The post office has a special plan for individuals who consider investing for a longer period. The Post Office PPF Scheme is what it is all about. Public Provident Fund scheme is indeed the safest and the best guaranteed return scheme. If you want to benefit from this investment scheme, go on and read the article to the end.
Post Office PPF Scheme
Investment in Post Office PPF Scheme is considered to be quite safe as it is a small savings scheme by the government under which a person has to deposit a minimum amount for 15 years. Currently, it provides 7.1 percent interest per annum for the investment done in Public Provident Fund Scheme, which is higher than any bank’s FD scheme.
Open Account at Rs 500
In order to invest in the PPF scheme, one has to be a resident of India. This will enable the applicant to take advantage of it. In this scheme that the post office has devised for its investors, the minimum investment will range from Rs 500 per month. For the maximum investment limit, the number is broken out to 1.5 lakhs for a financial year. If a good amount is deposited every month, it can yield a return of 24 lakhs.
Maturity period is 15 years
The Post Office Public Provident Fund Scheme is a long-term plan investment option where money is to be deposited for 15 continuous years after which it matures. Even a little amount is enough for an applicant to begin investing; thus, over the years, he can gather a substantial fund. It helps in creating larger funds in the long run while offering a great platform to save taxes.
Fund of lakhs you will earn as follows
Any large deposit comes in this way: You will have to deposit an entire month’s fixed amount regularly. For example, if you deposit ₹ 7,500 in one month into a PPF account, the deposit amount after one year becomes ₹90,000. And this sum, established by continuous investment for fifteen years, is found to be ₹ 13,50,000. The post office will pay interest on this deposit at a rate of 7 percent per annum. After this, the resultant income will be ₹ 24,40,926.
There are many of such benefits, too.
This is what most of the people prefer: investing in the post-office scheme, making one’s money safe. Loan facility is also given on investing in a PPF scheme. If at any point of time within the investment you need something, you can take a loan. There is a facility for premature withdrawal too. However, pre-mature withdrawal can only be done after 5 years, and 1% interest has to be deducted from it.
