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How to become a millionaire in just Rs 500! Invest money in these 5 places and get rich!

You can become a millionaire in no time by investing a fund of just Rs 500. This includes both government schemes and mutual funds. Let us tell you how you can earn big money-




New Delhi: If you are also planning to earn good money by investing less money, then today we will tell you about 5 such techniques, through which you can invest only 500 rupees in a short time. I can become a millionaire. This includes both government schemes and mutual funds. Let us tell you how you can earn big money-

Post Office

You can invest money in the savings account of the post office. In this, you get the benefit of interest at the rate of about 4 percent. Apart from this, post office is considered to be the safest way of investment in today’s time. There is also a government guarantee in this. Along with this, you get tax free interest up to 10 thousand rupees.

Mutual funds today

You can earn Rs 2 lakh on a monthly investment of Rs 500 over a period of 15 years at an interest rate of 10 per cent. You can also increase the investment according to your needs. Apart from this, for an investment of Rs 90,000, you can earn Rs 1.10 lakh. You can buy this online also.

Public provident fund

Apart from this, by investing money in Public Provident, one can earn huge profits. By investing in PPF at this time, you get the benefit of compounding interest at the rate of 7.1 percent per annum. A maximum of Rs 1.5 lakh can be invested in PPF annually. The amount deposited in the PPF account can be claimed as deduction under section 80C of the Income Tax Act. The interest earned on this is completely tax free.

Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana is a government scheme. The money invested in it is absolutely safe. In this you can open an account for Rs.250. In SSY, customers also get the benefit of tax exemption. You can open an account in the name of your daughter. The interest is calculated on a compound basis, which gives slightly higher returns. Minimum Rs 1000 and maximum Rs 1.5 lakh can be invested every year.

National Savings Certificate

NSC is a popular scheme which is run by the post office. You can buy this certificate for Rs 100, Rs 500, Rs 1000 and Rs 5000. The investment period of NSC is 5 years and at present it is getting interest at the rate of 6.8 percent. Along with this, tax exemption is also available under Sector 80C.

Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ praveshmaurya24@gmail.com
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