Investing in PPF account not only gives you good interest, but also helps in tax exemption. PPF account gets maturity on completion of 15 years. At this time you get around 40 lakh rupees.
Every person wants his life to be happy. For this he works hard and earns good money too. It is also important to invest the money in the right place. If you do not know the right investment strategy, then your dreams will remain incomplete.
Many people invest in different schemes of government and non-government. If you are planning to invest, then this news is very useful for you. Today we are going to tell you about Public Provident Fund PPF.
By investing in this scheme, you will get tax exemption along with good interest. Let’s know about this plan.
Account can be opened with Rs 500
PPF is a government scheme. Most importantly, you can also withdraw money from it if needed. If you can open PPF account in bank or post office. You can start this account with Rs 500. This is a government savings scheme and its interest rate is fixed by the government. You can also deposit small amounts as per your convenience.
7.1 percent interest is available
If you invest in PPF account, then you will get 7.1 percent interest annually. Its maturity period has been fixed at 15 years. If you do not deposit Rs 500 in a year, your account will become a default account. 50 rupees penalty and balance amount has to be deposited to make it active again.
Returns up to Rs 40 lakh will be available
Public Provident Fund PPF account gets maturity on completion of 15 years. On completion of 15 years, you get back the entire money, including deposits and interest. After this you get up to 40 lakh rupees.
On depositing 1000 rupees a month: 3 lakh 15 thousand 572 rupees will be available. On depositing Rs 2000: Rs 6 lakh 31 thousand 135 will be available. On depositing Rs 3000: 9 lakh 46 thousand 704 will be available.
Post Office Scheme
Post Office Recurring Deposit-RD: Indian Post Office runs many types of savings schemes. Crores of people are getting good returns by investing in post office schemes.
In Post Office Recurring Deposit Scheme, you can start from Rs.100 only. You will get good returns on investment maturity.
Post Office Recurring Deposit-RD: Everyone should save to meet future financial needs. Well, there are many options to invest money. Many people invest in the stock market, mutual funds or any cryptocurrency. All of this carries a lot of risk.
There are many savings schemes for investing in post office which are tax rebate along with high interest rate. Most importantly, guaranteed by the Government of India. Today, we are telling you about such a scheme of the post office, in which you can earn big profits from small investments.
One should invest in Post Office Recurring Deposit (RD) scheme for good returns. Let’s know about this plan.
Investing in the post office not only keeps our money safe, but also gives us good returns. Money never sinks in Post Office Recurring Deposit Scheme investment. Because this scheme is run under the supervision of the government.
Large funds can also be created by depositing some money in an RD account. RD account can be started with a deposit of just Rs.100. At present, 5.8 percent interest is being given on the recurring deposit scheme.
No Deposit Limit
No maximum limit has been fixed for depositing money in this post office scheme. Recurring deposit can be made for one year, two years or three years as per your convenience.
The most important thing is that the interest on the money deposited in this RD is given quarterly. At the end of every quarter, your account is credited with compound interest.