Post Office PPF Account 2023: Investing in Public Provident Fund can make you a millionaire, read details

Post Office PPF Account 2023: If you are thinking of investing in the coming days, then you can do it in post office savings schemes! The money invested in these schemes is also completely safe! Public Provident Fund in Post Office Small Savings Schemes (Public Provident Fund) is included! If the bank defaults, you get only Rs 5 lakh back! But it is not so in the post office. In addition to the post office (Post Office) Investment in savings schemes can be started with a very small amount.

Post Office PPF Account 2023

Post Office PPF Account 2023

Post Office PPF Account 2023

Post Office Public Provident Fund (Post Office Public Provident Fund) Gives you a chance to become a millionaire! You just have to invest Rs 417 daily in this account! Although the maturity period of this account is 15 years, but you can extend it twice for 5-5 years. Along with this, you also get tax benefit in this PPF plan! Let us also tell you how this scheme can make you a millionaire!

How much fund will be invested for 15 years

you invest for 15 years (investment) IE till maturity and deposit a maximum of Rs 1.5 lacs annually i.e. Rs 12500 in a month and 417 in a day, then your total investment will be Rs 22.50 lacs! At the time of maturity in PPF Account (PPF Account), you will also get the benefit of compounding with 7.1% annual interest! At the time of maturity, you will get Rs 18.18 lakh as interest. That means you will get Rs 40.68 lakh in Public Provident Fund!

This is how you can become a millionaire

if you post office (Post Office) Want to become a millionaire with this scheme! So you can increase your investment twice for 5-5 times after 15 years with this scheme! By investing Rs 1.5 lakh annually, your total investment will be Rs 37.50 lakh! After maturity in PPF, you will get Rs 65.58 lakh with 7.1% interest rate! That means after 25 years your total fund will be Rs 1.03 crore!

Maturity (Post Office PPF Online)

Is Post Office Public Provident Fund Scheme (Post Office Public Provident Fund Scheme) The account will mature after 15 financial years. This will not include the financial year of account opening. On maturity, the depositor has the following options:

  • Maturity payment can be received by submitting the account closure form along with the passbook to the concerned post office.
  • The person can continue the maturity amount without any further deposit by keeping the maturity amount in his account. In this case the interest rate of PPF will be applicable and payment can be taken anytime. Or the person can withdraw once in every financial year.
  • Apart from this, the person can extend the PPF account for a period of 5 years or even beyond. It has to be increased within one year of maturity!

premature shutdown

The facility to close the Public Provident Fund Account before maturity is available after 5 years from the end of the year! This can be done in case of life threatening illness of the account holder, his spouse or child. Apart from this, this can be done in the case of higher education of the account holder or dependent child. This can be done when there is any change in the residential status of the account holder.

Who can open PPF (Post Office PPF Online)

Any resident including salaried, self employed, pensioner etc. account in PPF of post office (PPF Account) can open! Only one person can open this account. You cannot open a Joint Account in this! A minor PPF account can be opened by a parent/guardian on behalf of a minor child in the post office. Non-resident Indians cannot open Public Provident Fund Account in this!

Key Features of Post Office Public Provident Fund Account

The maximum deposit amount in a PPF account during a financial year is Rs 1.5 lakh. Post Office Public Provident Fund (Post Office Public Provident Fund) The number of deposits is limited to 12 per year. PPF is an EEE investment i.e. principal amount invested, interest earned and maturity amount are all tax-free! The minimum annual investment required to keep the account active is Rs 500. post office ppf account (Post Office PPF Account) But the interest is compounded annually and is paid on March 31 every year.

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