If you are looking for long-term investments with future secure benefits PPF (Public Provident Fund) comes out as a lifesaver and a good investing option, especially for Investors. The biggest advantage of this scheme as it is a well-founded scheme and authentic with a satisfactory return policy. As this small investment can secure your future for a long time with reasonable returns and so-called saving cum – tax saving investment vehicle which enables a retiral entity with a low-risk appetite, minimum investments with a good amount of returns, loan withdraws, and tenure.
It is confronting tax-free interest income on maturity and maturity amount for those individuals who stare for tax-free investments.
Both employer and employee can take an advantage of it. In a few years investors can attain a substantial sum of wealth through PPF (public provident fund).
If we compare the earliest interest rate from January to March 2022 it was 7. 9 % and is now available at 7.1%. You can easily understand this estimation which is based on assumption.
Assume you begin starting with 1000 per month for a period of 15 years then Rs. 1.8 lakh will come out as your deposited amount. If we estimate it from a 7.1 % rate of interest, then you will get 1.45 lakh as the total interest rate. Now talk about the maturity amount then you will get a 3.25 lakh maturity amount.
If anyone wants to extend or chooses the investment period for 25 years more in the progression of 5 years, then you will get 26.32 as the maturity amount.
How to Apply
- Any individual can apply for opening a PPF account by visiting any bank online portals.
- You can visit your bank, consult with the employee and easily you can open your PPF account.
Documents Needed
- Identity proof (Aadhar card / Pan card / Voter Id)
- Residence Proof
Passport size photograph and pay-in slip
