PPF Calculator: If you deposit Rs 1.5 lakh annually in PPF for 15 years, what will you get on maturity?
According to the current rules, a maximum of Rs 1.5 lakh can be deposited annually in PPF. If you deposit this amount every year in this scheme which matures in 15 years, how much money will you get on maturity? Know here.
PPF Calculator: For those who want to accumulate a large fund in the long term, the Public Provident Fund is a very good scheme. The good thing about PPF is that you get a government guarantee of security in it. Whatever amount you are investing, you will get the benefit of fixed interest on it. In such a situation, this scheme is very good for those who like safe investments. According to the current rules, a maximum of Rs 1.5 lakh can be deposited annually in PPF. If you deposit this amount every year in this scheme which matures in 15 years, how much money will you get on maturity? Know here.
How much will you get on depositing 1.5 lahks in 15 years?
According to PPF Calculator, if you deposit 1.5 lakh rupees every year in PPF, then in 15 years you will invest a total of 22,50,000 rupees in this scheme. This scheme is giving interest at the rate of 7.1%, so in 15 years you will get 18,18,209 rupees as interest at the rate of 7.1%. In this way, if you withdraw the amount after 15 years, you will get a total of 40,68,209 rupees as maturity amount.
If you want to get benefit further, then get an extension
If you want, you can also get PPF extended. To extend PPF with contribution, you have to apply one year before maturity. PPF account is extended in blocks of 5 years each, i.e. if you extend it once, it will be extended for 5 years straight. In this way, you can get extension in PPF as many times as you want.
How much benefit will you get if you get extension
If you extend PPF once, then after 15 years you can invest in it for 5 more years. In such a situation, if you continue to invest Rs 1.5 lakh annually in it for the next 5 years, then your total investment will be for 20 years. In 20 years, you will invest a total of Rs 30,00,000. At the rate of 7.1 percent, you will get an interest of Rs 36,58,288 and the maturity amount will be Rs 66,58,288. If you extend it once more, that is, continue with this investment for 25 years, then your total investment will be Rs 37,50,000. The interest on this will be Rs 65,58,015 and the maturity amount will be Rs 1,03,08,015.
You will also get the benefit of income tax
PPF is an EEE category scheme. This scheme is also considered very good in terms of saving tax. In PPF, the investor gets tax benefit on the investment made, the interest received on it and the maturity amount.
