PPF scheme Benefits: You cannot live your entire life on the basis of salary. The income for retirement money will be less. In such a situation, you should have good investments to meet the expenses. If you want to create a smart fund for retirement then PPF can be a great option.
PPF Saving Scheme: You cannot spend your entire life on salary. Your retirement income will be less. In such a situation, you should have good investments to meet your expenses. If you want to create a smart fund for retirement, PPF can be a great option. If you invest in this scheme with a little smart planning, then you will get a lot of money without any risk. If you get the support of your wife, then it will be icing on the cake. You will become a millionaire in just 20 years.
How to become a millionaire
By investing in PPF i.e. Public Provident Fund, you can get guaranteed returns. If you invest with a little planning, you can become a millionaire in just 20 years. In this scheme with a maturity of 15 years, you can make a lot of money in a short time. Today we are telling you the funda of investing in this scheme, with the help of which you can become a millionaire by creating an amount of 1.33 crores in just 20 years.
Invest together with your wife
According to the PPF rules, a person can open only one PPF account in his name. If your wife is working, then both of you can open separate accounts in your names. To become a millionaire in 20 years, both of you will have to invest Rs 1.5 lakh in your respective accounts. If both deposit Rs 1.5 lakh annually, then your dream of becoming a millionaire will be fulfilled in 20 years.
PPF calculation
Generally, the maturity period of PPF is 15 years, but you will have to extend this scheme for 5 years once. In such a situation, to continue Rs 1.5 lakh for 20 years, Rs 30 lakh each will be deposited in the PPF account of both. As per the interest rate of 7.1 percent on PPF, both will get around Rs 36,58,288 as interest in their respective PPF accounts. That means, both will get Rs 66,58,288 along with Rs 30,00,000 and Rs 36,58,288 interest in their separate accounts. If you add both of them, after 20 years you will have Rs 66,58,288 + 66,58,288 = Rs 1,33,16,576, which means you will become a millionaire.
Tax free income
Let us tell you that your investment, interest and maturity amount in PPF are all completely tax free. That means all the money will come home. The special thing is that you have to show some wisdom at the time of investment. You have to do extension with investment. For extension, you just have to fill a form.
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