PPF Scheme: Deposit ₹ 1 lakh every year in this scheme, know how much return you will get…

PPF Scheme: Public Provident Funds, or PPFs, are government investment programs. Any Indian citizen may invest in the PPF, a federal government-run initiative. You may establish a PPF account at any bank in the nation. You may establish a PPF account at the post office in addition to banks. A PPF account may receive an annual deposit of between Rs. 500 and Rs. 1.5 lakh. This account has a lot of unique features. You may deposit money in installments or invest a large amount each year if you’d like.

PPF receives interest at a rate of 7.1% per year

At the moment, the central government pays PPF interest at a rate of 7.1 percent annually. Under this arrangement, deposits may range from a minimum of Rs 500 to a maximum of Rs 1,50,000 every year. In 15 years, this plan will mature. However, it may be prolonged for a period of five to five years. The PPF account may be used in this manner for a maximum of 50 years. Remember that you must contribute at least Rs 500 annually to maintain your PPF account. Your account will be terminated if you don’t deposit at least Rs 500 into it in any given year.

You may get a loan by investing in the PPF plan

Loan facilities are also available on PPF accounts. A loan of 25% of the entire money placed in the account is available to investors under the PPF plan. You may take out half of your PPF account once after five years of starting it. You would get a guaranteed total of Rs 68,72,010 after 25 years if you deposit Rs 1 lakh annually in a PPF account. This comprises your investment of Rs 25,00,000 plus interest of Rs 43,72,010. You may visit the bank or post office that is closest to you for further information on the PPF plan.