PPF में हर महीने ₹500 का निवेश बनाएगा लखपति: इसमें 7.1% ब्याज के साथ इनकम टैक्स छूट भी मिलेगी, समझें निवेश का पूरा गणित

If you are planning to invest in a scheme where your money is safe and you get a fixed and good return, then the Public Provident Fund (PPF) scheme can prove to be right for you. Currently, 7.1% annual interest is being given under this scheme.

You can easily become a millionaire by investing just 500 rupees every month in this. Apart from this, you can also take advantage of income tax exemption by investing in this scheme. Along with this scheme, we are also telling you how much fund you can create by investing how much every month.

You can open an account for Rs 500
The minimum amount required to open a PPF account is Rs 500. A minimum deposit of Rs 500 is required in a financial year, while the maximum investment limit is fixed at Rs 1.5 lakh per annum.

The maturity period is 15 years
PPF account matures in 15 years. If you want, you can withdraw the entire amount after maturity. However, if you do not need the money, then it can be extended for 5-5 years. For this, you will have to extend it one year before the maturity is completed.

The lock in period is 5 years
However, money cannot be withdrawn from this account for 5 years from the year in which the PPF account is opened. After this period is over, money can be withdrawn by filling Form 2. However, if you withdraw money before 15 years, 1% will be deducted from your fund.

Investing Rs 12,500 every month will get you Rs 1.02 crore
If you want to create a fund of Rs 1 crore through this scheme, then you will have to invest Rs 12,500 every month for 25 years. On the other hand, if you invest Rs 10,000 per month, then you will get about Rs 81.76 lakh after 25 years. Know here how much you will benefit by investing in this.

How much money will you get after 15 years if you invest every month in PPF

Note: This table is given on the basis of a rough estimate because the interest rate on PPF is reviewed every 3 months. Apart from this, the interest rate in the table given here is calculated on an annual basis.

Get the benefit of tax exemption
Investment in PPF comes under the EEE category. That means you get the benefit of tax exemption on the entire investment made in the scheme. Under Section 80C of the Income Tax Act, you can avail tax exemption on investment up to Rs 1.5 lakh annually. At the same time, no tax is to be paid on the interest received from the investment in this scheme and the amount received on maturity.

Who can open a PPF account?
Any person can open this account in his name in any post office or bank. Apart from this, an account can also be opened by any other person on behalf of a minor. Click here for more information