Post office Scheme: After depositing Rs 40,000 you will get Rs 10,84,856 after so many years
The Post Office Scheme offers a range of government-backed savings and investment options, including fixed deposits, recurring deposits, PPF, and more. These schemes provide safe, reliable returns and tax benefits, making them ideal for long-term financial planning.
Post office Scheme: After depositing Rs 40,000 you will get Rs 10,84,856 after so many years
Post office Scheme: If you are planning to save money, then the Public Provident Fund (PPF) scheme of the post office can be right for you. In this, by depositing ₹ 40,000 every year, you can create a fund of up to ₹ 10,84,856 in 15 years. Yes, this scheme is also safe and comes with a government guarantee, due to which your money remains completely safe.
How will your money grow? When you deposit ₹ 40,000 in PPF every year, you get interest on it. This interest increases according to compounding, meaning every year's interest is added to the next year's deposit amount and interest is generated from it. Similarly, your money grows every year. The rate keeps increasing every year and after 15 years it becomes ₹ 10,84,856.
What is the special thing about this scheme You do not need much to invest money in the PPF scheme. You can deposit a minimum of ₹ 500 every year and a maximum of ₹ 1.5 lakh. The biggest thing is that the interest you get and the money you withdraw. If you withdraw it after 15 years, there is no tax on it.
how to open account You can open a PPF account by going to the post office, for this you will have to show your Aadhar card and PAN card. Apart from this, you can also open this account in the bank. If you have internet, then you can open it online also. It takes more time to open this account. It doesn't take time.
Interest rates and ways to grow money Currently, interest on PPF is 7.1%. This interest is decided by the government and it can change every three months. When you deposit ₹ 40,000 every year, your money grows slowly and after 15 years, this good fund. It becomes.
understand with an example Suppose you deposited ₹ 40,000 every year, after 15 years your total deposit amount will be ₹ 6 lakh but due to compounding interest it will increase to ₹ 10,84,856. This money will be useful to you in your big expenses like children's education or buying a house. Could.
Why is this scheme special The biggest feature of PPF is that your money remains completely safe in it and there is no tax hassle in it. This scheme is best for those people who want to grow their money without risk and save for long term. want.
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