PPF Account- Do you want to become a millionaire overnight, then invest in this scheme
Whether you are a working person or a businessman, in this economic environment, you need to invest a part of your earnings for your savings for the future, because inflation is falling rapidly over time and the value of your money is decreasing. It is important to invest these savings in the right place, in such a situation the Public Provident Fund (PPF) scheme is the right option. Which has gained a lot of popularity all over the country.
Currently, the PPF scheme offers an interest rate of 7.1 percent per annum, making it an attractive option for long-term savings. Let us understand by example, let's say you decide to invest Rs 4,000 every month in the PPF scheme. This is an annual investment of Rs 48,000. Over 15 years, the money invested matures, giving substantial returns.
On investing Rs 48,000 annually for 15 years at the current interest rate of 7.1 percent, the maturity amount would be around Rs 13,01,827. Over the investment period, your total contribution would be Rs 7,20,000, with interest accumulation of around Rs 5,81,827.
A major advantage of the PPF scheme is its inherent safety - there is no market risk, ensuring that your savings are safe and grow steadily over time.
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