If you are planning for long-term investment, then this scheme of Post Office will also make you a millionaire, there is no risk of sinking mone
Post Office Scheme: If you are looking for a better option for long-term investment, then the PPF scheme of the Post Office is very useful for you. This scheme can also make you a millionaire. Know how here.
Post Office Investment: If you want to invest money in a scheme for the long term and also want to add a large amount of money from that scheme, then turn to the Post Office. Here you can get the option of Public Provident Fund i.e. PPF. This scheme matures after 15 years and you can also extend it in blocks of 5-5 years. In PPF, you can deposit a maximum of Rs 1.5 annually i.e. Rs 12,500. If you deposit this amount continuously for a long time, then you can also make yourself a millionaire with this scheme Post Office. Know how.
Know how to become a millionaire
Currently, 7.1 percent interest is being given to PPF. Also, one of the advantages of this scheme is that the money deposited in it, the interest received and the amount received on maturity is completely tax-free. This means that it is kept in the EEE category. If you continue to invest in this scheme for 25 years continuously, then you can easily make yourself a millionaire. To continue investing for 25 years, it will have to be extended at least twice in blocks of 5 years each.
Understand through calculation
If you deposit Rs 1.5 lakh annually in it, and if you deposit it continuously for 25 years, then in 25 years you will be a millionaire. Understand how through calculation- According to the PPF calculator, in 25 years you will invest Rs 37,50,000. At the rate of 7.1%, you will get Rs 65,58,015 as interest. In this way, after 25 years, you will get a total of Rs 1,03,08,015 by combining your investment and the interest amount received on it.
If your salary is 65-70 thousand, then investing 1.5 lakh rupees annually is not a big deal
If you are wondering how to get 1.5 lakh rupees annually for investment, then it is not a big deal in today's time. The financial rule says that every person should save at least 20 percent of his income and invest it. Even if you earn 65-70 thousand rupees a month, then it is not a big deal. 20 percent of 65,000 is 13,000 rupees and you have to save only 12,500 rupees a month. In such a situation, you can easily make this investment and accumulate a fund of 1 crore by your retirement age. Being a scheme with guaranteed returns, there is no risk of your money getting lost in it.
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