will become a millionaire at the age of 25 PPF

One of the most popular schemes of the government is PPF ie Public Provident Fund Account. By investing in this scheme, not only do you earn a profit on your income, but you also get an income tax rebate. Apart from this, due to being a long-term investment, there is a tax exemption on both its maturity and profit. But very few people know that you can open this account in your child’s name as well. There is also a facility of loan and partial withdrawal on the account opened in the name of the child. Apart from this, there is also a special thing that after 18 years your child can manage this account himself.

Why is this investment beneficial?
Today’s savings on bank savings accounts is 3-3.5% per annum, although some banks also pay around 6% interest on savings accounts.
Interest on a 5-year bank FD is around 5.5 to 6.25 per cent.
Mutual funds have seen a decline of over 20 per cent in every category of equity segment in the last 1 year.
Guarantee of security for every penny deposited in the post office, whereas in banks, insurance is available only on the amount of 5 lakhs.

How much investment will you have to make?
For a 1 crore fund, you have to invest at least Rs 12,500 every month and Rs 1,50,000 annually. You will get a compounding interest of 7.1% per annum for this entire money. In this way, you will have to invest a total of Rs 37,50,000. In this way, after 25 years, you will get Rs 1.03 crore on maturity i.e. you will get interested in Rs 65,58,015.

Due to Coronavirus, India’s stock market is also at a huge disadvantage along with the equity market of the world. In such a situation, the investors have lost their mind there, while investing in gold has also become very expensive. Mutual funds are also losing money. In such a situation, investors are looking for an investment where there is not only loss but also good returns. In such a situation, we miss the government’s small savings schemes. Where the risk is equal and the returns are also good. Today we are going to tell you about the Public Provident Fund. In which you will accumulate 6 thousand rupees every month and become crores in 420 months.
– The government changed FDI rules, taking lessons from Chinese investment in HDFC
Special features of PPF
– Public Provident Fund is getting more interest from banks FDs.
– There is less risk than other investment options like the stock market and gold.
– By investing in this government guaranteed scheme, you can save big money without risk.
During the investment in PPF, there is a benefit of tax exemption under section 80C of the Income Tax Act.
– Coronavirus Effect: World Bank said, the economic crisis in the world will be more severe than 2008
Investment of 25 lakhs, saving one crore rupees
Presently, interest is being paid on PPF at a rate of 7.1 per cent. Now let us tell you how long it will take to become a millionaire at the current interest rate. According to the PPF calculator, if you are 25 years old and you invest 6 thousand rupees every month, then after 35 years at the age of retirement this amount will be more than one crore rupees. This means that if you continue to invest 6 thousand rupees for 35 years i.e. 420 months, then at the age of 60 years, you will accumulate an amount of Rs 1,08,94,988.
Investing in gold is a profitable deal between the falling economy, 20% return in three months
Keep this in mind too
According to PPF rules, its maturity time is only 15 years. If you want to extend it for 35 years, then after maturity you can extend it for 5-5 years. For this, you have to fill the form H every five years. There is no limit to increasing maturity.

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