PPF Investment

PPF Investment

You can become a millionaire if you set aside Rs 400; The safest investment

You can become a millionaire if you set aside Rs 400; The safest investment

There is no end to the number of things that come out of a dream house, car, and so on.

But what does it all take? I need money. Or that is a big question mark for most people.

Public Provident Fund This is a very useful scheme for those who have accumulated money to achieve long term goals.

Those who invest up to Rs 1.5 lakh per annum in PPF are also eligible for tax deduction under the Income Tax Act, 1961

At present the interest rate is 7.1 per cent. More interest than fixed deposits in banks.

The maturity period of PPF is usually 15 years. The period can be extended to multiples of 5 such as 5, 10 and 15.

The amount can be withdrawn in a limited manner in case of partial emergency

How to become a millionaire? A person who regularly invests in PPF can achieve the target of Rs. 1 crore.

For that, an investment of Rs 1.5 lakh per annum is required. 416 per day and Rs.

12500 per month should be set aside for this. But do you think the amount is not enough?

That's where the 7.1 percent interest rate comes into play.

If you invest in this way for 15 consecutive years, you will get Rs 40 lakh.

If you invest for another 20 years, the return will be Rs 66 lakh. If you invest for 25 years, you will have around Rs 1 crore in your hand.

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