Post office investment
The special thing about the post office plans is that the interest received in them is also good and many schemes come with tax exemption. If you are invested in these schemes with the right planning, then till retirement, a hefty amount can be deposited and regular income like pension can also be earned on a quarterly basis.
One such scheme is PPF (Public Provident Fund) operated by the post office, ie your investment is completely safe. The interest received in these schemes is fixed on a quarterly basis and it may change from time to time.
PPF: Long -term Amazing
PPF i.e. Public Provident Fund is a long -term plan with a maturity period of 15 years. The government pays about 7.1% interest on this scheme, which is tax free every year. In PPF, you can invest up to a maximum of Rs 1.5 lakh annually, and on this investment you also get a discount under Section 80C of Income Tax.
If you want, you can invest annually by saving Rs 12,500 according to the month or about Rs 416 every day. If this investment continues for a long period, then you get a good amount deposited at the time of retirement.
How to get crores from investing in PPF?
If you invest Rs 1.5 lakh per year in PPF for 15 consecutive years, then you will get about Rs 41.35 lakh on maturity. In this, your total investment will be Rs 22.50 lakh and the remaining amount will be available as interest. If the investment period is increased to 20 years, the amount reaches about 67.69 lakh rupees, which will include the total investment of 30 lakhs and Rs 37.69 lakh from interest.
And if you invest continuously for 25 years, then your amount can reach Rs 1.03 crore, in which the total investment will be 37.5 lakh and interest will be earned by Rs 65.5 lakh. This scheme is amazing to make small investment big for a long time.
Big benefit from small savings
The most important thing is that you do not need to invest a large amount. You can take great advantage of this scheme even by making small savings. This scheme is especially beneficial for those who are afraid of taking risks and want stable, reliable income.