Post Office Scheme, how to earn money: If you know how to invest money properly, then there are many such schemes which can make you rich.
One such scheme is the Public Provident Fund (PPF) scheme of the Post Office. This scheme of Post Office is very helpful in making big corpus in the long term.
The most secure investment
is the specialty of this scheme that your investment in this is completely safe. It is not affected by market fluctuations. These interest rates are fixed by the government, which is reviewed on a quarterly basis. The post office is currently getting 7.1 percent annual interest on the PPF scheme.
Account can be opened in a bank branch You can open a
Public Provident Fund (PPF) account at the post office or bank branch. This account can be opened with just Rs 500. In this, up to Rs 1.50 lakh can be deposited annually. The maturity of this account is 15 years. But, after maturity, there is a facility to extend it further in the bracket of 5-5 years.
Every month 12,500 will be Rs investment millionaire
if you deposit in PPF account Rs 12,500 every month and maintain up to 15 years, the maturity you will get a total of Rs 40.68 lakh. In this, your total investment will be Rs 22.50 lakh, while Rs 18.18 lakh will be your income from interest.
This calculation has been done assuming the interest rate of 7.1% per annum for the next 15 years. The maturity amount may change when the interest rate changes. Know here that compounding in PPF happens on an annual basis.
Benefit will be a million
if you want to become a millionaire in this scheme, you must increase twice for 5-5 years after 15 years. That is, now your investment tenure has become 25 years. Thus, after 25 years your total corpus will be Rs 1.03 crore. Your total investment in this period will be Rs 37.50 lakh, while you will earn Rs 65.58 lakh as interest income.
Keep in mind that if you want to extend the PPF account further, then the application will have to be given one year before the maturity. The account cannot be extended after maturity.
