Let us know the details of the post office sip interest rate 2023 and how you too can become a millionaire.

Post Office SIP 2023:

If you are looking for any post office SIP plan for investment, then this post office plan can be a better option for you.

The name of this post office scheme is Public Provident Fund (PPF). You can get better returns by investing a small amount every month.

The person who invests in this scheme gets returns according to the compounding interest rate of 7.1 percent.

In this, just like SIP, you can invest a maximum of Rs 1.5 lakh in a year by depositing a small amount every month.

The special thing about the post office PPF scheme is that no income tax is charged on the interest earned.

Let us tell you that a minimum of Rs 500 and a maximum of Rs 1.5 lakh can be invested in PPF every year.

If you invest Rs 10,000 every month in the Post Office PPF scheme, then you will invest a total of Rs 1.20 lakh in 1 year.

10000 per month, your investment will be Rs 18 lakh in 15 years. In this, you will get interest at the rate of 7.1%.

You will get an interest of Rs 14.54 lakh on this amount. The total amount you will get on maturity will be Rs 32.55 lakh.

Let us tell you that under the PPF scheme of the post office, you get a rebate of Rs 1.5 lakh under Section 80C of Income Tax.