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Know how you can make a corpus of Rs 18 lakh by investing Rs 1,000 monthly in PPF – News

PPF Calculator: Public Provident Fund (PPF) is a safe as well as high returns investment scheme for investors.  Investment in PPF (Public Provident Fund) is neutral from market fluctuations. Tax Benefits (Tax Benefits)  Get. Not only this, there is no tax to be paid on the interest amount and maturity amount received on the investment.  You can avail tax benefits under section 80C on PPF deposits. The interest and maturity amount received in this is also tax-free. The government gives guarantee on investment in PPF. Therefore, the risk for the investors is negligible.  One can invest up to Rs 1.5 lakh annually in PPF account which can be done on monthly or yearly basis. By investing in PPF, you can create a huge corpus for yourself in the long run.

Know how much you can invest
You can invest up to Rs 1.5 lakh annually in PPF by taking Rs 500. At present, 7.1 percent interest is available on PPF. But after increasing the repo rate of RBI, when all the banks are increasing the interest rates on FD, then it is believed that from July 1, 2022, when the government will review the interest rates of savings schemes, then it can be announced to increase the interest rates of PPF. Anyway, 7.1 percent interest on PPF is more than the FD rate of many banks. Investors can invest continuously for 15 years in PPF account. And if the investor does not need the money, then he can also extend his  PPF account based on the block period of five five years. For this PPF account submission form has to be filled.

How to make Rs.18 lakh by investing Rs.1,000
If you invest Rs.1,000 every month in your PPF account which becomes Rs.12,000 in a year. If you are of 25 years of age and keep investing Rs 1,000 per month in PPF account till the age of 60 years i.e. for the next 35 years, then on maturity of PPF i.e. when you will be retiring at the age of 60 years You will get Rs 18.14 lakh. This amount will be completely tax free. You have made a total investment of Rs 4.20 lakh, on which you will get Rs 14 lakh as interest.

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