PPF Scheme Latest Update: A lot of craze is seen among the people regarding the PPF Scheme of the Central Government.
This is such a scheme of the government, in which the investors get a fund of lakhs of rupees at once. Today we will tell you how you will get full 42 lakh rupees in PPF scheme. Yes… Along with government guarantee, money security is also available in this. Public Provident Fund is a best option.
PPF is the best option for investment
PPF Scheme is the best option to invest money according to long term. You can invest up to Rs 1.5 lakh in it every year. In this you get the facility of compounding interest. Along with this, the ups and downs of the market do not have any effect on such government schemes.
How to get 42 lakh rupees
if you invest 5000 rupees every month in PPF scheme. So your investment for the whole year will be Rs.60,000. If you invest it for 15 years, then your money on maturity will be 16,27,284. If you extend the deposit for the next 10 years in a term of 5-5 years, then after 25 years your fund will be around 42 lakhs (Rs 41,57,566). In this your contribution will be Rs 15,12,500 and interest income will be Rs 26,45,066.
Where can you open an account?
You can start investing in the Public Provident Fund scheme with a minimum of Rs 500. You can open it from your nearest post office or bank anywhere. From January 1, 2023 onwards, the government is giving the benefit of interest at the rate of 7.1 per cent in this scheme and the maturity of the PPF scheme is in 15 years.
There is also a chance to increase it in the block.
In this scheme, account holders can apply to increase it in blocks of 5-5 years. In this, he also gets the option of continuing the contribution or not.
You can also apply for loan, you also get the benefit of tax exemption in PPF scheme. In this scheme, you can take advantage of tax exemption under section 80C. The amount earned through interest in this scheme is also tax free. After completion of 5 years in this scheme, you can also apply for a loan.