The Public Provident Fund (PPF) scheme is a popular and safe investment option, which comes with a government guarantee. Let’s see the details of how much you will get by investing Rs 500 every month in this scheme over a period of 15 years.
PPF interest on the monthly investment of Rs 500
If you invest Rs 500 every month in the PPF scheme, your total investment in 15 years will be Rs 90,000. At the current interest rate of 7.1%, you will receive an interest of about Rs 72,728 in this period. Thus, your total amount on maturity of 15 years, which includes investment and interest, will be around Rs 1,62,728.
PPF interest on the monthly investment of Rs 1500
If you invest Rs 1500 every month, your total investment in 15 years will be Rs 2,70,000. As per the same interest rate, you will get interest of around Rs 2,18,185 in this period. Thus, your total amount on maturity, which includes investment and interest, will be around Rs 4,88,185.
Features of the PPF Scheme
- Safe and Government Guarantee: Your investment in the PPF scheme is under government security, making it a safe option.
- Tax benefits: Income tax exemption is available on the amount invested in it and the interest is also tax-free.
- Flexibility: It has a minimum annual investment limit of Rs 500 and a maximum of Rs 1,50,000. Along with this, this scheme matures after a period of 15 years, but in between, the facility of pre-mature withdrawal and loan is also available.
Benefits of investing
By planning regular and safe investments in the PPF scheme, you can prepare a good fund for your future. Its interest rate is higher than that of banks, which can give good benefits in the long term.
Consideration
PPF scheme can be an ideal investment option for any citizen of the country who is looking for safe and attractive interest for a long period. Before investing, it is important to get complete information according to your financial situation and investment objectives, so that you can make your investment as profitable as possible.
Disclaimer: 1Tak.com website provides information about auto, tech, technology, technical, business, stock market, bank and other financial schemes for the information of all its readers. Some information is also related to investment in the stock market, banks and other financial schemes, but we do not advise you to invest. If you want to invest in any scheme, then definitely take advice from a financial advisor or expert in that field. And before investing, definitely get information about that department.