Sunday, November 27, 2022

PPF: If you save only Rs 34 every day, you will get Rs 26 lakh, know how to invest

PPF Investment: Public Provident Fund is still trusted by people, it is such an investment on which you not only get good interest but also have good tax savings. If you invest Rs 34 a day in PPF i.e. 1000 rupees a month, then it reaches lakhs of rupees. We are going to tell you how you can make a huge amount of 26 lakhs with a small investment of 1000 rupees monthly in PPF.

This is the formula for investing in PPF

PPF account matures in 15 years. That is, after 15 years, the account holder can withdraw all his money. But if you want to keep the account running instead of withdrawing money, then you can also do this very easily. After 15 years, you can extend the PPF account as many times as you want for 5-5 years. During this, if you want to invest in it every month or you can keep the account running without investment. If you choose the option of no investment, then interest will continue to accrue on the deposit in the account. At present, 7.1 percent interest is being given on PPF.

Invest 1000 rupees every month

If you invest 1000 rupees every month in PPF, then this small investment of yours can become lakhs of rupees. There are some important things about this, which we are going to tell. First of all, you should start investing in PPF at a very young age. Suppose you started investing at the age of 20. So you can run it till you yourself are not 60 years old. Let us know how much the investment of 1000 rupees per month will be in the first 15 years and if it is increased for 5-5 years then how much will it become.

Invested for the first 15 years

The investment in PPF is done for a minimum period of 15 years in the first instance. In such a situation, if you keep depositing Rs 1000 every month for 15 years, then you will deposit Rs 1.80 lakh in total. Instead of this deposit, you will get Rs 3.25 lakh after 15 years. In this, your interest is Rs 1.45 lakh at the rate of 7.1%.

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Extended for 5 years

If you now extend PPF for 5 years and also continue to invest Rs 1000 every month in it, then after 5 years the amount of Rs 3.25 lakh will increase to Rs 5.32 lakh.

Then extended for 5 years

After 5 years, if you extend the PPF investment again for 5 years and continue to invest Rs 1000, then after the next 5 years the money in your PPF account will increase to Rs 8.24 lakh.

Extended for the third time for 5 years

If you extend this PPF account for the third time for another 5 years and continue investing Rs 1000 then the total investment period will be 30 years. And the amount in the PPF account will increase to Rs 12.36 lakh.

Extended for the fourth time for 5 years

If you extend this PPF account after 30 years for 5 years and keep investing Rs 1000 a month. In such a situation, after the next 5 years in your PPF account, that is, in the 35th year, the money in your PPF account will increase to Rs 18.15 lakh.

Extended for 5 years for the fifth time

After 35 years, the PPF account is extended for 5 years, and the investment of Rs 1000 per month continues. In such a situation, after the next 5 years in your PPF account, that is, in the 40th year, the money in your PPF account will increase to Rs 26.32 lakh. That is, the investment of Rs 1000 you started at the age of 20 will become Rs 26.32 lakh till retirement.



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