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PPF, SSY, FD: In how many days will your money double if you invest in them – know here

Let us know how long will it take for your amount to double. Knowing this makes it easy to choose the scheme.

New Delhi. Investing in Bank Fixed Deposits (FDs), Mutual Funds, Sukanya Samriddhi Yojana (SSY) and Public Provident Fund (PPF) the question arises as to how long it will take to double. The government has not changed the interest rates for small savings schemes like PPF and SSY for the sixth consecutive quarter for the October-December quarter. Bank deposit rates are coming down.




So let’s know how long will it take for your amount to double. Knowing this makes it easy to choose the scheme.

Number of years required to double your amount = 72 / Rate of Return

FD Bank – At present, interest of about 5.5 percent is being available on fixed deposits of banks. According to this formula (72/5.5 = 13.09), it will take more than 13 years for your amount to double according to the interest rate.

The annual interest rate on Public Provident Fund – PPF is currently 7.1 percent. (72/7.1 = 10.14) According to this rate, it will take about 10 years for your amount to double.




Premature closure of account is allowed after completion of 5 financial years in Public Public Provident Fund. One percent less interest will have to be paid on the loan against the PPF account. Tax exemption under section 80C is available on investment up to Rs 1.5 lakh annually in PPF account. There is no tax on interest income also. The amount received on maturity is also not subject to tax. Money deposited in PPF cannot be confiscated. You can deposit money in PPF account even after maturity. A PPF account can be opened in the name of an individual. A PPF account can also be opened for a minor or a retarded person. A minimum of Rs 500 has to be invested in PPF every year.

Sukanya Samriddhi Yojana – The interest rate on Sukanya Samriddhi Yojana is 7.6 percent. According to this rate (72/7.6 = 9.47), your amount will double in a period of a little more than 9 years.




With Samriddhi Yojana (SSY), you can secure the future of your beloved. Also, investing money in this great investment option also helps you save income tax. This scheme is a small savings scheme of the central government for daughters. The account under Sukanya Samriddhi Yojana can be opened in any authorized branch of any post office or commercial branch. Under this scheme, the account can be opened after the birth of the girl child before the age of 10 years with a minimum deposit of Rs 250. It can be continued till the girl child turns 21 or after the age of 18 years of marriage. In the current financial year, up to Rs 1.5 lakh can be deposited under Sukanya Samriddhi Yojana.

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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