If you are planning to invest in a good and guaranteed investment, then the news can prove to be your work. Today we are talking about the best investment plan for public provident fund (PPF). In this investment scheme, through small savings, you can create a fund of millions of rupees. PPF account can be opened with only 500 rupees and even after depositing a minimum of 500 rupees once a year, this account remains operational. At the same time, you can invest a maximum of 1.5 lakh rupees in an account in a year. In addition, there is a tax rebate on investments in PPF. Let us tell you how you can invest more than 3 lakh funds by investing just Rs 1000 per month:
Get deposited 1000 rupees a month 3.25 lakh rupees.
If you invest 1000 rupees every month in PPF, then it will become 12 thousand rupees in a year. In this way, during a period of 15 years, you will deposit Rs 1.80 lakh. According to the current interest rate, you will get an interest of Rs 1.45 lakh on it. In this way, on completion of 15 years, you will get 3.25 lakh rupees.
The lock-in period lasts for
5 years. After opening the PPF account, money cannot be withdrawn from this account for 5 years. After completion of these periods, money can be withdrawn by filling Form 2. However, after withdrawing money 15 years ago, there will be a deduction of 1% from your fund.
Account can post office or open bank
a PPF account can be opened at any post office or bank. Apart from this, an account can also be opened by someone else on behalf of the minor.
Cheap loan is available on
PPF You can also take a loan on deposit on PPF account. You are entitled to take a loan from PPF in the financial year in which you have opened a PPF account, from one financial year after the end of that financial year to the end of the fifth financial year. If you have opened a PPF account in January 2017, then you can take a loan from 1 April 2018 to 31 March 2022. You can take a maximum loan of 25% on the deposit.
