PPF Investment Scheme: If you are looking for a good and safe investment option, then Public Provident Fund (PPF) can prove to be a good option. In this savings scheme, you can make lakhs of rupees by investing 34 rupees per day i.e. 1000 rupees per month. At this time you get 7.1 percent interest on PPF. Along with this, you also get many exemptions in income tax before investing in it.
PPF account matures after 15 years of investment. After the completion of 15 years of investment, you can withdraw your money from it. Also you have the option to keep your account running. After the completion of 15 years, you can extend your PPF account for a period of 5-5 years.
During this time, if you want, you can continue to invest in it. Even if you do not invest, you will continue to get interest on your money deposited in PPF account for these five years. Let us know how you can make 26 lakh rupees by investing Rs 34 a day.
The first investment is for a minimum of 15 years
In PPF, you initially deposit Rs 1000 every month. This investment has to be made for a minimum of 15 years. If you are 20 years old and you start this investment from today, then after the completion of 15 years, an amount of Rs 3.25 lakh will be present in your PPF. In 15 years, you will invest Rs 1.80 lakh in your account, on which you will get an interest of Rs 1.45 lakh.
Account can be extended for five years
After this, you can carry forward the PPF account for the next five years. Even in these five years, if you continue to invest Rs 1000 per month, then after 5 years the amount deposited in your account will increase to Rs 5.32 lakh by Rs 3.25 lakh.
If you continue your PPF account for five more years and continue to invest Rs 1000 per month, then the amount deposited in your account will be Rs 8.24 lakh. The total investment period will be 30 years after the third time the PPF account is extended and after that the amount deposited in your account will increase to Rs 12.36 lakh.
Money deposited in PPF will increase to Rs 26.32 lakh in 40 years
If you decide to extend your PPF account for another five years after this once again i.e. for the fourth time, then it can prove to be more beneficial for you. Because after this the amount deposited in your account will increase to Rs 18.15 lakh.
If you want, you can once again extend your PPF account for five years. This can prove to be a very profitable deal for you. After 5 years i.e. in the 40th year of investment, the money deposited in your PPF account will increase to Rs 26.32 lakh.
In such a situation, after the next 5 years in your PPF account, that is, in the 40th year, the money in your PPF account will increase to Rs 26.32 lakh. That is, your 40-year-old investment of Rs 34 per day in PPF till the age of 60 years of your retirement will become lakhs of rupees.