The Public Provident Fund (PPF) scheme continues to be a favored investment avenue, and there’s exciting news for individuals considering this option.
The government’s recent announcement brings forth the potential of earning substantial returns through compounding interest.
If you are contemplating monthly investments of Rs 2,000, Rs 3,000, Rs 4,000, or Rs 5,000, here’s a breakdown of the maturity amount you can expect:
Maturity Amounts for Monthly Deposits in PPF Scheme
Investing Rs 2,000 per month:
By depositing Rs 2,000 per month, you will accumulate approximately Rs 24,000 in a year. Over a period of 15 years, your total deposit will amount to Rs 3,60,000.
With an interest rate of 7.1%, the accrued interest will be around Rs 2,90,913. Ultimately, the maturity amount will be a substantial Rs 6,50,913.
Investing Rs 3,000 per month:
If you deposit Rs 3,000 per month, your yearly contribution will amount to approximately Rs 36,000.
Over 15 years, the total deposit will reach Rs 5,40,000, with an interest payout of around Rs 4,36,370. At maturity, you can expect a handsome sum of Rs 9,76,370.
Investing Rs 4,000 per month:
A monthly deposit of Rs 4,000 translates to an annual contribution of around Rs 48,000. Over a 15-year period, the total deposit will amount to Rs 7,20,000.
The accrued interest will be approximately Rs 5,81,827, resulting in a maturity amount of Rs 13,01,827.
Investing Rs 5,000 per month:
By investing Rs 5,000 monthly, your yearly deposit will reach Rs 60,000. Over the next 15 years, the total deposit will accumulate to around Rs 9,00,000.
The interest earned, based on the current interest rate, will be about Rs 7,27,284. Consequently, the maturity amount will be an impressive Rs 16,27,284.
