PPF Scheme: PPF i.e. Public Provident Fund Scheme is a savings scheme run by the Central Government. This scheme has been running for a long time and remains very popular among the common people. Currently, 7.1 percent annual interest is being given on the PPF scheme. Today we will learn about the PPF scheme here. Along with this, we will also know that if Rs 1 lakh is invested every year in the PPF scheme, then how much total money will be received including interest on maturity.
Apart from post office, PPF accounts can also be opened in banks.
Under the PPF scheme, a minimum of Rs 500 and a maximum of Rs 1.50 lakh can be invested in a year. Under the scheme, you have to deposit Rs 500 at least once in a financial year. If you do not deposit at least Rs 500 in a year, your account will be closed. But, it can be reactivated by paying a fine. In this scheme, you can deposit a lump sum every year for your convenience or you can continue investing in maximum 12 installments. PPF account matures in 15 years. PPF account can be opened in any bank other than post office.
If you deposit ₹ 1,00,000 every year in PPF scheme, how much money will you get on maturity?
If you invest Rs 1,00,000 every year in your PPF account, then after 15 years i.e. on maturity, you will get a total of Rs 27,12,139, which includes Rs 15,00,000 of your investment and Rs 12,12,139 of interest. Let us tell you that with PPF account you also get many types of facilities. You can easily get a loan with a PPF account. You cannot withdraw money from this account for 5 years from the date of opening PPF account. After 5 years, money can be withdrawn from the PPF account only in certain circumstances like serious illness, children’s education.