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If you want to get good returns in a short time by investing money in a post office scheme, then this news is for you. We will tell you about a good post office scheme in which you can earn Rs 43 lakh by investing just Rs 411.
You must have heard about many schemes of the post office but do you know that there is one such post office in which your money is safe and you also get good interest. In this scheme, you can save Rs 411 daily and get Rs 43.60 lakh after 15 years.
We are talking about the Public Provident Fund (PPF) scheme. This scheme is a great opportunity for those who want big returns with a small investment. It is a government scheme in which both the amount deposited and the interest earned on it are tax-free. This means that you will not have to pay any tax on the interest. Let’s understand it in simple terms.
The tenure of PPF account is 15 years and currently it gives 7.9 percent interest rate. You can deposit minimum Rs 500 and maximum Rs 1.5 lakh every year. If you deposit Rs 1.5 lakh every year, then after 15 years you will get Rs 43.60 lakh.
Out of this, Rs 21.10 lakh will be in the form of interest. That is, if you save Rs 12,500 every month, that is, about Rs 411 daily, then after 15 years, you will have such a huge amount in your hands. This scheme is also special because it is backed by the government, so there is no fear of your money sinking. It also provides tax exemption on the deposit and interest, which comes under section 80C of the Income Tax.
Depositing money in a PPF account is also very easy. You can deposit it in one go or in 12 installments. If you deposit Rs 500 in the first year, but do not deposit the minimum amount for the next two years, the account may be closed. There is no provision for opening a joint account in this scheme, but any person, regardless of his age, can open this account.
Apart from this, you can also take a loan under this scheme, which is available for the first five years of opening the account. This facility is very useful in emergencies. The post office has also started an online facility to deposit money in PPF. You can easily transfer money through the PostPay app or India Post Payments Bank (IPPB). For this, you have to link your bank account with IPPB.
Then go to the IPPB app and select the PPF option, enter your PPF account number and customer ID, and select the deposit amount and tenure. After making the payment, you will receive a message with all the information. This scheme is best for those who want a safe investment. It not only gives good returns, but it also gives higher interest than bank FDs. So if you want to save for the future, PPF is a good option.
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