People still have confidence in PPF Investment: Public Provident Fund , this is an investment on which you get good interest, as well as good savings on tax. If you invest even 1000 rupees a month in Public Provident Fund, 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 in PPF.
Tips for Investment 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 it very easily. After 15 years, you can extend the PPF account as many times as you like for 5-5 years. During this time, if you want to invest in it every month or you can keep the account running without investing. If you opted for investment without investment, then interest will be paid on the deposit in the account. At present, 7.1 percent interest is being given on PPF.
What will be the investment of 1000 rupees a month?
If you invest 1000 rupees every month in PPF, then your small investment can become lakhs of rupees. There are some important things for 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 become 60 years old yourself. Let us know how much investment of 1000 rupees a month will be in the first 15 years and if it is increased for 5-5 years then it will become.
Invested for the first 15 years
Public Provident Fund invests for a minimum of 15 years at first. In such a situation, if you continue to deposit 1000 rupees every month for 15 years, then you will collect a total of 1.80 lakh rupees. In return for this deposit, you will get Rs 3.25 lakh after 15 years. Your interest in this is Rs 1.45 lakh according to 7.1%.
Proceeded for 5 years
Now you carry forward PPF for 5 years, and if you continue to invest 1000 rupees every month, then after 5 years, the amount of Rs 3.25 lakh will increase to Rs 5.32 lakh.
Then carried forward for 5 years
After 5 years, if you continue the Public Provident Fund investment again for 5 years and continue to invest 1000 rupees, then after the next 5 years, the money in your PPF account will increase to Rs 8.24 lakh.
Proceeded for the third time for 5 years
If you extend this PPF account for the third time also for 5 years and continue to invest 1000 rupees, then the total investment period will be 30 years. And the amount in PPF account will increase to 12.36 lakh rupees.
Fourth time carried forward for 5 years
If you increase this PPF account for 5 more years after 30 years, and keep investing 1000 rupees 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.
For the fifth time carried forward to 5 years
After 35 years, you extend the PPF account for 5 more years, and keep the investment of 1000 rupees a month. In such a situation, after the next 5 years in your PPF account, in the 40th year, the money in your Public Provident Fund account will increase to Rs 26.32 lakh.
