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LIC fans can also invest in THIS PPF scheme, here's how to earn Rs 1 crore in 15 years
The PPF investment can be made on a monthly, quarterly, half-yearly or annual basis depending on the investors’ financial viability and outlook.
Updated : Dec 19, 2022, 11:01 AM IST | Edited by : Maitry Kothari
 "LIC fans can also invest in THIS PPF scheme, here's how to earn Rs 1 crore in 15 years")
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For many people, Public Provident Fund (PPF) is the first step toward risk-free money growth. It is popular not just among salaried individuals but also among businessmen who want to contribute a portion of their earnings to this fund because it is an efficient tax-saving strategy. Just like LIC Jeevan Anand Policy where you save lakhs of rupees and get an investment bonus. The interest rate is moreover close in this PPF investment from the LIC scheme.
Citizens who have invested in LIC schemes can invest in PPF schemes as well as the interest rates are not varied enough. The policies are for those individuals who want to keep their money safe for many years. It is an extended savings strategy.
LIC policies must be chosen by those who desire to save for retirement. People who don't need the money right away would gain. The benefits of the coverage last longer than the lock-in period.
Depending on the financial viability and viewpoint of the investor, the PPF investment can be made on a monthly, quarterly, half-yearly, or annual basis. 1,50,000 is the annual maximum investment allowed for this product. (Also Read: LIC Jeevan Anand: Invest Rs 1358 per month, get Rs 25 lakh)
Although the majority of us are aware of the "Exempt-Exempt-Exempt" (EEE) benefits of this investment, many people still ponder if it is possible to amass a sizable corpus utilising this option.
In a case where you assume you are investing from the age of 18. Your monthly investment would be Rs 12, 500 which will give you an interest rate of 7.1% and the investment tenure will be for 15 years.
You will have a corpus of Rs 40,20,031 as you turn 33 years old. You would have invested an amount of Rs 22,50,000 and an estimated return of ₹17,70,301.
Assuming you restart your PPF investment from scratch. When you are 48 years old and make a new PPF investment, you will once more receive 40,20,301 when you are 63 years old. In doing so, you ultimately amass a corpus of 1,20,60,903.
By making a straightforward PF investment, the dream of becoming a crorepati will be achieved.
Statistics show that even a modest Rs 12,500 monthly commitment, made without fail, can help you accumulate sums that few can ever begin to fathom.
