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Post Office Scheme: This is a very popular scheme among small investors in India. Most people want to invest a part of their income in a safe place where they can earn interest.
Usually, when we think of savings, the first thing that comes to our mind is the savings schemes of the post office. It offers a variety of schemes. The post office offers a variety of schemes to benefit everyone, including children, girls and the elderly. This is because most of the post office schemes are risk-free. The money you invest here is safe. Similarly, the interest rates on these are also attractive. It is also guaranteed by the government.
One of these schemes is the Public Provident Fund Scheme (PPF). It is a very popular scheme among small investors in India. Most people want to invest a part of their income in a safe place where it can earn interest. This scheme is a good way for such people. This scheme offers more than 7 percent interest per annum. Accordingly, if you invest every month, you can get a big profit after 15 years.
Currently, the government offers a tax-free annual interest rate of 7.1% on the PPF scheme. The money you invest is tax-free. The interest earned on that money is tax-free. And the amount received at maturity is also tax-free. However, the lock-in period of this scheme is 15 years. Therefore, the entire amount cannot be withdrawn midway. You can open an account in this scheme with Rs 500. The maximum investment is Rs 1.5 lakh. Even people with low income can easily get it.’
How to get Rs 40 lakh?: For example, if you invest Rs 12,500 every month, you will have a total of Rs 22.5 lakh in 15 years. Also, with an interest rate of 7.1%, you will get an interest of around Rs 18.18 lakh. That is, at the end of 15 years, you will have Rs 40.68 lakh. In this, you can reduce or increase the investment amount.
Another important benefit of this scheme is the loan facility. You can apply for a loan after the first financial year of opening the account. You can withdraw a small amount after five years of opening the account.
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