Your PPF account can make you a millionaire, just manage it like this

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PPF Investment: Public Provident Fund (Public Provident Fund) is a long term savings scheme maintained by the Government of India. This scheme has been started by the government with the aim of motivating people to save and providing personal and family financial security.PPF

PPF Investment: Savings scheme run by the Central Government, you can invest a minimum of Rs 500 and a maximum of Rs 1.50 lakh in a year. This account can be opened with a minimum of Rs 100. Any Indian citizen can open a PPF account.

There is also a provision for tax exemption under 80C on the amount deposited in PPF by the Income Tax Department. Also, you can also take a loan after three to five years of investment.

However, those investing in PPF have to keep one thing in mind that it has a lock-in period of 15 years. That means investors can withdraw money from this scheme only after 15 years. But the big thing is that by investing in this scheme you can become a millionaire.

The current interest on PPF is 7.1% being given by the Central Government. It is necessary to invest in this scheme for at least 15 years. If you invest Rs 1.5 lakh every year, then in 15 years you invest Rs 22,50,000.

If you invest Rs 12,500 every month in PPF, then in 15 years you will earn interest of Rs 18,18,209. That is, Rs 40,68,209 will be received on maturity of the scheme. If you extend it by five more years, you will get Rs 66,58,288 on maturity. When you extend it further for five years, you will get Rs 1,03,08,015 on maturity.

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