Let's know-how in the new year you too can become a millionaire by starting an investment in post office SIP.
If you want to become a millionaire by accumulating funds for your future, then post office public provident fund is the best option.
This post office scheme is very useful for the common people. Let us know about this scheme of post office PPF.
If you deposit only Rs 417 in the post office public provident fund scheme, you will get Rs 1 crore on maturity.
In the Post Office PPF Scheme, the investor will have to invest Rs 417 every day i.e. deposit Rs 12500 every month.
If you deposit Rs. 12500 every month for 25 years, then your PPF balance will be around Rs. 1 crore.
At the time of maturity in Post Office PPF, you will get the benefit of compounding with an annual interest of 7.1%.
The maturity period of Post Office PPF scheme is 15 years. It can also be extended twice for 5-5 years.
Let us tell you that you get guaranteed returns in PPF. You also get tax benefits by investing in Post Office PPF.
Anyone can open an account in the post office in the PPF scheme. In this, you cannot open joint account and NRI account.