Post Office Scheme: If you want to get good returns in a short time by investing money in post office scheme, then this news is for you. We will tell you about such a great scheme of post office in which you can earn Rs 43 lakh by investing only Rs 411.
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Post Office Scheme: You must have heard about many schemes of the post office but do you know that there is a post office in which your money is safe and you also get good interest. In this scheme, you can save Rs 411 daily and get Rs 43.60 lakh after 15 years.
We are talking about the Public Provident Fund (PPF) scheme. This scheme is a great opportunity for those who want big returns with less investment. This is a government scheme in which both the amount deposited and the interest received on it are tax-free. That means you do not have to pay any tax on the interest. Let us understand this in simple words.
The tenure of a PPF account is 15 years and currently it gives an interest rate of 7.9 percent. You can deposit a minimum of Rs 500 and a maximum of Rs 1.5 lakh every year. If you deposit Rs 1.5 lakh every year, then after 15 years you will get Rs 43.60 lakh.
Out of this, Rs 21.10 lakh will be in the form of interest. That means if you save Rs 12,500 every month i.e. about Rs 411 daily, then after 15 years, you will have such a huge amount in your hand.
This scheme is also special because it is backed by the government, so there is no fear of your money sinking. It also offers tax exemption on the deposit amount and interest, which comes under section 80C of Income Tax.
Depositing money in a PPF account is also very easy. You can deposit it in one go or in 12 installments. If you deposit Rs 500 in the first year, but do not deposit the minimum amount for the next two years, the account may be closed. There is no facility to open a joint account in this scheme, but any person, irrespective of his age, can open this account.
Apart from this, you can also take a loan under this scheme, which is available for the first five years of opening the account. This facility is very useful in case of emergency. The post office has also started an online facility to deposit money in PPF. You can easily transfer money through DakPay app or India Post Payments Bank (IPPB). For this, you have to link your bank account with IPPB.
Then go to the IPPB app and select the PPF option, enter your PPF account number and customer ID, and choose the deposit amount and period. After the payment is made, you will receive a message with all the information. This scheme is great for those who want a safe investment. It not only gives good returns, but it also gives more interest than bank FD. So if you want to save for the future, PPF is a great option.
