Often people feel that there is a need for a huge amount to invest, but the truth is that if you invest small savings of daily, then a big fund can be prepared with time. Today we will tell you that if you save only ₹ 1000 every month and invest in four different schemes PPF, SIP, SSY and Post Office RD, then how much money can be made and which scheme can be the best for you.
PPF safe and tax free investment
Public Provident Fund i.e. PPF is a government scheme, which is not only safe but also gives tax exemption. It is currently getting 7.1% annual interest. If you invest for 15 years in ₹ 1000 PPF every month, then the total investment will be ₹ 1.80 lakh. On this you will get an interest of about ₹ 1.45 lakh. That is, you will get ₹ 3,25,457 on maturity. It also provides partial withdrawal facility after 5 years, so that money can be withdrawn on the need.
Smart Investment in SIP Mutual Fund
If you are ready to take a little risk and want more returns, then SIP i.e. Systematic Investment Plan is a good option. Through SIP, you invest in equity mutual funds, where up to 12% can get annual returns. SIP of ₹ 1000 every month will invest a total of ₹ 1.80 lakh in 15 years, but you can get around ₹ 2.95 lakh as interest. That is, the total fund on maturity can reach ₹ 4,75,931. The special thing about SIP is that you can withdraw money at any time and can also increase your monthly investment amount with time.
Best Plan for SSY daughters
Sukanya Samriddhi Yojana (SSY) is a plan launched for the daughters of the government. Currently, about 8.2% annual interest is being received. This scheme is opened only in the name of daughters. If you invest ₹ 1000 every month, then there will be an investment of ₹ 1.80 lakh in 15 years and you will get ₹ 3.74 lakh as interest. That is, a total fund of ₹ 5,54,206 will be prepared on maturity (21 years). Tax exemption is also available in this scheme, which makes it a great option for parents.
Post office rd small but safe investment
The recovering deposit (RD) of the post office is a simple and safe investment option, in which 6.7% annual interest is currently getting. The duration of RD is 5 years. Investing ₹ 1000 every month, there will be an investment of ₹ 60,000 in 5 years and ₹ 11,369 will be available as interest. That is, a total of ₹ 71,369 will be available in 5 years. If you increase it for more 5 years, then a fund of ₹ 1,70,857 can be prepared by investing ₹ 1.20 lakh in 10 years.