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Sunday, July 11, 2021

PPP Scheme / Save only Rs. 416 per day, you will become a millionaire in so many years

PPP Scheme / Save only Rs. 416 per day, you will become a millionaire in so many years


Public Provident Fund (PPF) is seen as a tax saving investment.  This can also be seen as a low risk investment as it is managed by the central government.  At present, the interest rate on PPF account is 7.1 per cent.  Any PPF account matures in 15 years.  But it can be extended by five years.  Among them, PPF account is the best investment for retirement.  If one invests in it for a long time, it will be most beneficial for him.

An investor can only invest a maximum of Rs 1.5 lakh in a financial year in a PPF.  A maximum of Rs 12,500 can be invested in it for a month.  If you invest up to Rs 12,500 for 15 consecutive years, you will get Rs 40,68,209 at maturity.  In which your investment will be Rs 22.5 lakh and interest will be Rs 18,18,209.




 

According to a news report, the new policy was supposed to be implemented in December 2020, but it could not be fully implemented due to the closure of schools due to the Koro epidemic.  The new policy calls for schools in grades five and up to have a condom availability program.

 Chicago Public Schools (CPS) said free condoms will be provided by Chicago Public Health in a continuing effort to reduce the spread of sexually transmitted diseases among students, including HIV infection and unwanted pregnancies.


If you invest in this scheme for the next ten years, in 25 years you can become a millionaire through PPF.  According to PPF rules, your investment can be increased by 5-5 years after 15 years.  In such a situation, if you continue to invest Rs 12,500 even after 15 years, you will get Rs 66,58,288 lakh in 20 years.  And in the next five years, the figure will be Rs.  The investor will get Rs 1,03,08,015 by investing Rs 12,500 per month for 25 consecutive years.  That is, if you save Rs 416 per day, you will become a millionaire in 25 years through PPF.


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