Most people search for the best financial investment to ensure their future financial stability. Additionally, they aim to invest on a platform that will provide them with the highest and safest returns. Numerous investment plans have emerged in response to public sentiment, but Public Provident Fund is still regarded as the best choice.
Although PPF offers a modest interest rate, it has several advantages. If you invest money in this strategy, tax is also saved while the investment is made. Both employed and self-employed individuals may use it. The security and earnings of this savings plan are guaranteed by the government. PPF now offers interest at a rate of 7.1 percent.
Both the maturity amount and the interest income are entirely tax-free in this situation. Mutual funds offer returns that are undoubtedly larger than those of other schemes, but there is a long-term capital gains tax of up to 20%.
Also Read
From SBI to HDFC Bank, Check Per Day UPI Transaction Limit Of Key Banks
Let’s examine every element of this plan from an investing standpoint.
Equity Mutual Fund
A Financial Freedom Survey was just released. Equity mutual funds are therefore the top option for retirement. The Employee Provident Fund and the Public Provident Fund are next. PPF offers excellent long-term returns. Start making contributions to this plan today if you are also preparing for retirement; the retirement fund will grow significantly.
Maturity period
The maturity period of PPF is 15 years. Even after that, it can be extended in an interval of 5-5 years.
Investment calculations
If you deposit 100 rupees every day for a year, you will have deposited 36500 rupees. You will receive a total of Rs 9.89 lakh if you make this investment for 15 years and the interest rate stays at 7.1 percent. Your initial contribution will have grown to Rs 547500 after 15 years.
Also Read
ITR Filing: Can You Correct The ITR Filed In Previous Financial Year?
Get a retirement fund of Rs 25 lakh in 25 years
You will get 25 lakh 8 thousand 284 rupees at the end of 25 years. During this, a total of Rs 912500 will be deposited from your side.
⚡ Join our Telegram Channel (Viral Bake) for the Latest News and Updates
