PERSONAL FINANCE
PPF scheme: The best thing about PPF is that it gives you guaranteed returns.
Do you want to be a crorepati? Here's how to do it! One of the biggest financial goals for the upper middle-class section is to generate the retirement fund. If you want a retirement corpus of Rs 1 crore by setting aside a portion of your monthly salary, the Public Provident Fund (PPF) is a great option. PPF scheme is not only a great wealth generator, it is also a safe investment of your money.
We are talking about the post office public provident fund. The post office PPF scheme will give you a yearly interest of 7.1 percent. This scheme also gives investors the benefit of compound interest. The maturity period for this scheme is 15 years which can be extended to 10 more years. This scheme also gets investors the benefit of tax breaks.
The post office PPF with the compound interest facility gives you sustained growth. To become a crorepati, you will have to spend Rs 1.5 lakh per annum. This translates into Rs 12500 per month. If you break down it to a daily figure, you will have to invest Rs 417 per day.
If a person invests Rs 12500 per month, after 15 years, he will have invested Rs 22.50 lakh. If we add up interest at the rate of 7.1 percent, a person will get an interest of Rs 18.18 lakh.
This means you will have Rs 41 lakh after 15 years. You can keep this money invested and keep adding Rs 1.5 lakh per year for the next 10 years. Then your invested amount will be Rs 66 lakh. If you add up interest, after 25 years of investment, you could become a crorepati.
The best thing about PPF is that it gives you guaranteed returns. It also provides tax benefits.
This PPF account can be opened through any post office branch. However, you can't open a joint account. Only Indian citizens can open a post office PPF account. NRIs can't open this account.
Blackout on breaks: Company imposes no-sick-leave policy until 2025
Drug-laden terrorists on India's western, northern frontiers
Mohammad Shami trolls Sanjay Manjrekar over IPL auction bid prediction, says, 'Baba ki...'
IND vs AUS Test: When and where to watch 1st match of Border-Gavaskar trophy, know details here
CAQM amends Grap Stages III, IV, enforces stricter measures in Delhi-NCR amid air pollution woes
Malayalam actor Meghanathan passes away at 60 after suffering from...
Adani Green Energy's FIRST reaction after US indicts Gautam Adani in alleged bribery case
'Keep me out of...': Pakistani Instagram star Mathira on MMS leak controversy
Delhi Air Pollution: AQI marginally improves from 'severe' to 'very poor' category
'I love him, he loves me! Why hurt...': Rekha's bold confession about Amitabh Bachchan goes viral
Meet man, IITian who built Rs 5493 crore firm, has this Mukesh Ambani connection, he is from...
Shillong Teer Results TODAY November 21, 2024 Live Updates: Check winning numbers here
‘I didn’t have time to…’: When AR Rahman revealed having ‘agreement’ before marriage to Saira Banu
Viral video: Woman's sizzling belly dance to 'Namak' impresses internet, watch
Hardik Pandya banned, Mumbai Indians captain to miss first match of IPL 2025 due to...
Meet man who studied at IIM, IIT, then built Rs 1160000000 company, got inspired by…
Meet woman, who quit as dentist for UPSC exam, became IAS officer with AIR...
Viral video: Little girl steals hearts with her adorable dance to 'o meri cutie', watch
Gautam Adani's company signs another pact to acquire 100% stake in...
CBSE Date Sheet 2025 announced: Class 10, 12 board exams to begin from...
Apollena: Aditi Sharma on how space-based drama encourage young girls, says 'no matter how many...'
Is Mia Khalifa dating ex-Man City star Julian Alvarez? Former adult star says 'It certainly...'
IPL 2025 auction RTM rule: How this year’s right-to-match card is different from previous seasons
'Virat Kohli is trying to...': Shoaib Akhtar makes BIG statement on Champions Trophy 2025
Maharashtra Election 2024: Mukesh Ambani and family cast their votes in Mumbai
Centre revises performance-linked incentive scheme for THESE employees; check details
Manipur violence: Prohibitory orders to be relaxed in Imphal Valley for 7 hours
Jharkhand Exit Poll Results 2024: 36-41 seats predicted for BJP, JMM to secure…
Elon Musk faces big threat after million of users switch from X to Jack Dorsey's Bluesky
ICC Rankings: Hardik Pandya reclaims No. 1 T20I all-rounder spot, Tilak Varma enters top 10
DNA Verified: Is retirement age for central govt employees increasing to 62? Know truth here
Android 16 preview unveiled by Google: Who can access it? Here's all you need to know
Anti-pollution diet: Foods that can help fight air pollution naturally
Tech millionaire Bryan Johnson's face 'blows up' after anti-aging experiment; here’s how
Expanding Horizons: GOCL Corporation’s Strategic Diversification in Electronics and Metal Cladding
TrezarBit App Review 2024: Legit Trading Platform? Quick Facts!
Meet man who worked closely with Isha Ambani, Mukesh Ambani, set to take new role as...
Meet man, lifted bricks 8 hours a day, cracked NEET by studying on broken phone, he scored...
US embassy in Kyiv shuts down after receiving warning of 'potential significant' Russian air attack
Anil Ambani's next BIG step, Reliance Group announces new plan for...
Jaguar reveals new brand logo, identity ahead of EV debut
Playing with Fire: Will Putin risk nuclear Armageddon before Trump takes office?
Gautam Adani's BIG Rs 16877 crore plan to take on Mukesh Ambani, set to build Mumbai's largest...
Ranjit Kumar Gupta: Pioneering communication in a connected world
Meet Mathira Khan, Pakistani influencer whose private video leaked after Minahil Malik, Imsha Rehman
Big move by Paytm, now users can make UPI payments in these foreign countries
'Chernobyl-like scene in Noida': Viral photo shows city's toxic sky
Manipur CM N Biren Singh breaks silence on fresh violence in state: 'Will not rest until...'
'Never going to...': Wipro chairman Rishad Premji says THIS big thing about work-life balance