Let us know how you can also become a millionaire by following systematic investment in Post Office PPF.
One specialty of Post Office PPF is that along with investment in it being safe, the returns are also guaranteed.
PPF account can be opened with a minimum of Rs 500. A maximum of Rs 1.50 lakh can be deposited in a financial year.
How to make a fund of ₹ 1 crore Maximum monthly deposit: Rs 12,500 Maximum annual deposit: Rs 1,50,000 New Interest Rates: 7.1% compounding annually
Amount on maturity after 15 years: Rs 40,68,209 Amount at maturity after 25 years: Rs 1.03 crore (increasing investment in 5-5 year breaks)
Let us tell you that the amount or period of the investment may change if the government changes the interest rates.
Post Office Public Provident Fund has the facility to extend further in the bracket of 5-5 years after maturity.
Post Office PPF is a better option for those who aim to create funds for the future and become millionaires.
One specialty of Post Office PPF is that there is no market (stock market) risk on investment in it.
There is a guarantee of security on every penny deposited in the post office, whereas in banks only up to 5 lakhs.