Post Office Best Scheme: Invest Rs 10,000 and get Rs 4.4 lakh
The name of this scheme is Post Office Public Provident Fund (Post Office PPF Scheme) and it is a good scheme for those who have the intention to earn more money.
Post Office is introducing several schemes and anyone can get the best benefit by using these schemes. Post Office Savings Scheme is also one of the best schemes as an annual investment of Rs 10,000 can double the money.
The name of this scheme is Post Office Public Provident Fund (Post Office PPF Scheme) and it is a good scheme for those who have the intention to earn more money. Apart from that, it is considered to be a very safe scheme and money can be invested in this scheme without any risk or problem.
If you are in your 20s and aspire to earn more money in your 40s then this plan is perfect for you. In this post office scheme, safe and guaranteed incomes are available. It is true that money also doubles without any risks. It is also important to know about the interest and dividends available before investing money in it.
Post Office PPF Scheme Calculation:
Yearly investment: Rs 10,000
Tenure: 20 years
Interest Rate: 7.1%
Total Amount Invested: Rs 2 Lakhs
Total interest earned: Rs 2,43,886
Maturity Amount: Rs 4,43,886
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Post Office (Public Provident Fund) PPF Scheme:
You can start investing in PPF scheme through post office or any bank. You can invest a minimum of Rs 500 in the scheme in a financial year. Similarly, a maximum investment of Rs 1.5 lakh can be made which is up to the investor’s choice.
Investors can start investing with an investment of Rs 50. Tax deduction on investment amount is also available under section 80C. Under the IT Act, the interest amount is tax-free and you can claim the interest tax-free.
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Benefit of (Exempt-exempt-exempt) EEE Tax Exemption in PPF:
PPF comes under the EEE category of taxation. That is, you get tax-free benefit on the entire amount invested in the scheme.
Further, the interest on that investment and the entire amount received at maturity is also tax free. Hence, PPF investment is considered to be better in terms of long term investment. Because the interest earned in this goes entirely to the investor.
Lock in period in PPF account for pre-withdrawal is kept at 5 years. This means that money cannot be withdrawn from this account for 5 years after the year of account opening. After completing this period, early withdrawal can be done by filling Form 2. However, it should be remembered that maturity withdrawal cannot be done before 15 years.
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