Government-Backed PPF: ₹1.5L Yearly for Lakhs
December 20: Post Office Public Provident Fund (PPF) scheme is gaining popularity. This investment scheme is a great experience for people of all ages across the country. This small savings scheme. Instead of providing good interest rates, it is more profitable because of the government's assurance.
This scheme is convenient for them to start saving with small amounts and get a big tenure in the long run. This Public Provident Fund (PPF) scheme is gaining popularity among investors with no risk, tax exemptions for investors.
The PPF scheme offers a tax-free interest of 7.1 percent per annum. This is very beneficial even for those in the higher tax bracket. Section 80C of the Income Tax Act is available for this investment.
This scheme can be started with a minimum of Rs. 500 per annum with a lock-in period of 15 years. Up to Rs. 1.50 lakh can be invested in a financial year.
Land Rs. If you invest Rs. 12,500, your total deposit for 15 years with an investment of Rs. 1.50 lakhs per year will be Rs. 22,50,000.
At the current annual interest rate of 7.1 percent, the total interest you will receive during this period will be Rs. 18,18,209. As a result, at the time of maturity, you will have a total of Rs. 40,68,209.
The government provides special facilities to them to avail this facility even after 15 years of maturity. There is an option to add it for five years each time. Through this, investors get more profit.
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