New Delhi PPF Interest Rate: If you are dreaming of becoming a millionaire in a short time, then this news can be very special for you. To become rich, you have to invest some part of your earnings every month. Nothing can stop you from becoming a millionaire after making such regular investments. In this news, we are giving you information about investing in PPF. In this, if you invest Rs 12,500 every month for 25 years, then you get a fund of more than 1 crore.
What is PPF investment
Let us tell you that investing in PPF can prove to be very profitable for you. This is a very reliable investment option. Investing in it gives you good and safe returns. Along with this, you also get tax benefit. On investing in this, you do not have to pay tax on interest and maturity amount. In this scheme, you get the facility of tax exemption up to Rs 1.5 lakh under Section 80C of Income Tax.
You will get this much interest on investment
PPF is considered very safe for long term investment. At present, interest is available at the rate of 7.1 per cent in this scheme. PPF also provides guarantees to the investors. PPF is completely operated by the government. In this, the government decides the interest. It gives you guaranteed returns. That means the entire money remains safe.
Formula to become a millionaire
If you are thinking of becoming a millionaire by investing in PPF scheme, then for this you have to invest at least Rs 12500 every month in this fund and Rs 1.5 lakh annually. In this way, when you deposit a total of Rs 37 lakh 50 thousand by investing money in 300 installments for 25 years, then after 25 years, an amount of Rs 1 crore will be given on maturity including the interest on the deposited amount.
Anyone can invest
Everyone can invest in PPF scheme. You can start investing in it with just Rs.500. For this, you have to open a PPF account by going to the post office or bank. You can invest up to a maximum of Rs 1.5 lakh every year in a PPF account. At the same time, to keep the account running, at least Rs 500 will have to be deposited annually.
