High returns.. investment without any risk.. you can get Rs 20,000 in your lifetime.. do you know about this scheme?

PPF Scheme: Today, I'm going to tell you about a scheme that can easily provide you with a lifetime income of ₹20,000. There's no risk to your money, and the returns are high. Furthermore, since it's a government scheme, your money won't be at risk.

Parents want to save money for their children's future, education, marriage, and other expenses. However, many are unsure about which scheme to invest in that is safe and offers good returns. If so, this scheme may be the best fit for you. Let's explore it in detail.

This scheme is the Public Provident Fund (PPF). It's considered one of the most popular and safest savings schemes. Because it's a government scheme, your money is 100% guaranteed. Furthermore, it's not just a savings scheme. If you plan properly, you can turn it into an excellent retirement plan. Furthermore, the income generated is tax-free. This is why it is one of the best long-term investment options available in the market.

Currently, investors in the PPF scheme can earn 7.1% annual compound interest. This is higher than the interest rates offered on many bank fixed deposit (FD) schemes. Investing is also very easy. You can invest a large sum once a year. You can also invest in installments at your convenience. Unlike other private pension schemes, there is no stock market risk. Your money is guaranteed by the government. This is an ideal scheme for those who need a stable monthly income after retirement. Additionally, you can convert your savings into monthly income.

The term of this scheme is 15 years. Similarly, you can continue the account after 15 years. Furthermore, if you do not deposit any new money after 15 years, your account will continue to earn interest (7.1%) on the old amount.

For example, if you invest Rs 5,000 every month, you will have invested a total of Rs 900,000 in 15 years. This means that you will have accumulated Rs 16,27,284 in your account, including interest. After 15 years, the interest earned on this Rs 16.27 lakh will give you Rs 9,628 per month as pension.

Similarly, if you deposit Rs 12,500 every month for 15 years, you will have Rs 40.68 lakh in your account. Even if you stop investing after retirement, that Rs 40.68 lakh will still earn you interest of up to Rs 2.88 lakh annually, which means you will earn Rs 24,000 per month. If you wish, you also have the option to withdraw some of the principal amount once a year.

If you want to join this scheme, you can open an account at a nationalized bank or post office near you. You'll need to deposit at least ₹500 into the account each year.

Disclaimer: This content has been sourced and edited from News 18 hindi. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.