This government scheme can make you up to 1 crore rupees at the time of maturity with an investment of Rs 12,500 every month.
Investors receive substantial interest from numerous government schemes. Other benefits are also provided in these schemes in addition to the Tax-Free Government Scheme. Small investments in government schemes, which carry no risk, can yield good returns.
This is one such scheme which can yield very good returns. You need to invest for 25 years to deposit Rs 1 crore, and you will earn an interest of more than Rs 65 lakh. Compound interest will be given to it if you invest in it every year or month. The highest investment allowed under this scheme is Rs. 1.5 lakh, and it is also tax-free.
Public Provident Fund (PPF), a scheme that allows investments between Rs. 500 and Rs. 1.5 lakhs, provides an annual return rate of 7.1 per cent. On an annual basis, compounding is also advantageous. By evaluating it every three months, the government raises the interest rate under this scheme. You can open an account under this scheme at any post office. PPFs have a 15-year maturity period, but they can be extended for an additional five-year block.
Also read: Unity Small Finance Bank is offering up to 9 percent interest on fixed deposits
How to deposit money in the scheme:
As per the PPF Calculator, the total investment in 15 years will be Rs 40.68 lakh if an investor puts Rs 12,500 per month in this scheme or Rs 1.50 lakh yearly. 22.50 lakh rupees will be invested, and 18.18 lakh rupees will be paid in interest.
If it is then extended for an additional five years and then reinvested once for an additional five years, the total maturity will be 25 years. The PPF account would receive a deposit of Rs 1 crore 03 lakh 08 thousand. The Amount of Rs. 37.50 lakh will have been invested after 25 years, but Rs. 65 lakh 58 thousand will have been made in interest.
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