Post Office Scheme: If you are looking for a better option for long term investment then the Post Office PPF scheme is very useful for you. This scheme can also make you a millionaire. Know how here.
Post Office Investment: If you want to invest money in a scheme for the long term and also want to add a lot of money from that scheme, then turn to the Post Office Scheme. Here you can get the option of Public Provident Fund i.e. PPF. This scheme matures after 15 years and you can also extend it in blocks of 5-5 years. In PPF, you can deposit a maximum of Rs 1.5 lakh annually i.e. Rs 12,500. If you deposit this amount continuously for a long time, then you can make yourself a millionaire with this scheme of the post office. Know how.
Know how to become a millionaire
Currently, PPF is giving 7.1% interest. Also, one of the advantages of this scheme is that the money deposited in it, the interest received and the amount received on maturity are completely tax free. This means that it is kept in the EEE category. If you continue investing in this scheme for 25 years, you can easily make yourself a millionaire. To continue investing for 25 years, it will have to be extended at least twice in blocks of 5 years each.
Understand through calculation
If you deposit 1.5 lakh rupees annually in it, and deposit it continuously for 25 years, then in 25 years you will become a millionaire. Understand how through calculations- According to the PPF calculator, in 25 years you will invest 37,50,000 rupees. According to the interest rate of 7.1 percent, you will get 65,58,015 rupees as interest. In this way, after 25 years, you will get a total of 1,03,08,015 rupees by combining your investment and the interest amount received on it.
If the salary is 65-70 thousand, then investing 1.5 lakh rupees annually is not a big deal
If you are wondering how to save Rs 1.5 lakh annually for investment, then it is not a big deal in today’s time. The financial rule says that every person should save at least 20 percent of his income and invest it. Even if you earn Rs 65-70 thousand per month, it is not a big deal. 20 percent of Rs 65,000 is Rs 13,000 and you have to save only Rs 12,500 per month. In such a situation, you can easily invest this and accumulate a fund of Rs 1 crore by the age of your retirement. Being a scheme with guaranteed returns, there is no risk of your money sinking in it.
