Post Office Small Saving Scheme: People have many investment options to earn more profits. People are earning more profits by investing in mutual funds from government schemes. Mutual funds give the option of investing in a systematic way, which is called SIP. Mutual funds get more interest than government schemes, but the risk is more in this. At the same time, government schemes give benefits to the people without any risk.
In such a situation, if you want to earn as much profit as mutual fund SIP and also do not want to take risk, then there is a government scheme for you, in which you can make big money by investing. Apart from this, tax benefits and other benefits are also available on it. Let’s know about this scheme and how you can get Rs 41 lakh by investing?
what is this scheme
This scheme is none other than Public Provident Fund (PPF), in which one can invest just like SIP. Under this scheme, you can plan for long term investment. It gives higher interest as compared to other small saving schemes. Under this scheme, you can start investing a maximum of Rs 1.5 lakh annually and a minimum of Rs 500. If you want to invest every month like SIP, then you can invest a maximum of 12,500 monthly in this.
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Maturity and interest of the scheme
At present, the government is giving interest at the rate of 7.1 per cent per annum to the investors under this scheme. Its maturity period is at least 15 years, but if you want, you can increase the maturity by 5-5 years.
How to get 41 lakh rupees
If an investor invests Rs 12500 every month, then the amount received on maturity of 15 years at 7.1 percent interest per annum will be Rs 40 lakh 68 thousand 209. The total investment by you in this is Rs 22,50,000 and you will get interest of Rs 18,18,209. This scheme is tax free under section 80C.
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