PPF Account Benefits: Every person wants that the income source should never stop. For this, when he does a job or business, he invests in many places to secure his retirement. Although there are many schemes for retirement scheme, PPF scheme is quite popular among the people. In this article, let us know how PPF is a crorepati scheme.
PPF Account Benefits: For the continuation of income source even after retirement, the government-run PPF scheme is quite popular among the employed people and along with strong interest on investment, many types of extra benefits are also available in it. There are many saving schemes. But, among these, Public Provident Fund (PPF) is a very popular scheme. Through this scheme, you get the benefit of a lump sum amount after a time. In such a situation, the question is whether one can become a crorepati through this scheme. The answer is yes.
You can also become a crorepati through PPF through basic investment every month. We will tell you how much money you will have to save every month for this. PPF gives strong interest
PPF scheme is the choice of investors because of its benefits. If we talk about other schemes i.e. fixed deposits (FD) in banks and post offices, then PPF gives more interest than these schemes. Currently, the government is giving 7.1 percent interest in this scheme. This interest is compound interest, that is, interest is also charged on interest. The calculation of interest is annual, that is, PPF interest comes in the account of PPF investors every year in March.
How to become a millionaire with PPF
Interest is dearer than the principal. This is true in this scheme. Yes, we are going to tell you how you can become a millionaire through PPF. That is, PPF is a kind of Crorepati Scheme.
If you invest Rs 405 every month in PPF, then according to this, you will invest Rs 1,47,850 in a year. Now if you deposit the same amount in your PPF account for 25 consecutive years, then even at the current rate of interest i.e. 7.1%, more than Rs 1 crore will be deposited in your PPF fund.
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