New Delhi:
If you are looking for such a scheme for investment that will make you a millionaire, this news can be helpful for you.
Today we are telling you about a system that can make you a millionaire in the long run. We are talking about PPF, i.e., Public Provident Fund Scheme.
PPF is considered very safe for long-term investment.
In this scheme, you get guaranteed returns and tax exemption at the time of maturity.
Under this scheme, compound interest is currently being given at 7.1 percent. Let us know what benefits you will get by investing in it.
Government guarantee on PPF Scheme
You get a government guarantee on the investment made in the Public Provident Fund Scheme.
The central government entirely regulates PPF, and the government decides its interest in it.
This means that by investing in this scheme, your money will be completely safe, and you will get guaranteed returns at maturity.
Anyone can invest
Everyone can invest in the PPF scheme. In this, you can start investing with just Rs 500. You can open a PPF account by visiting your nearest post office or bank.
You can support a maximum of Rs 1.5 lakh in your PPF account in a financial year.
At the same time, to keep the account active, at least 500 rupees have to be deposited annually.
Many benefits, including loans on deposits and tax exemption
You can also take a loan against the amount deposited in your PPF account. However, your account should be at least five years old.
At the same time, tax exemption is also available under the EEE category. That is, you will get interested in the amount invested in the PPF fund and not have to pay any tax on it.
Apart from this, a specialty of the PPF account is that it cannot be seized for any court order, loan, or other liability.
This is how you can become a millionaire by investing in PPF
If you want to become a millionaire by investing in the Public Provident Fund scheme, you will have to invest Rs 1.5 lakh annually, i.e., at least Rs 12,500 every month in this fund.
In this way, when you invest in it continuously for 25 years, by adding compound interest on the deposited amount,
you will get more than one crore amount at the time of maturity.
