Invest Rs 7500 per month In PPF And Become A Millionaire

Now you can also become a millionaire by depositing a small amount every month in PPF (Public Provident Fund). For this, you will have to start investing from today so that you will not have to depend on others for money after retirement. The PPF is a savings-cum-tax-saving instrument in India, introduced by the National Savings Institute of the Ministry of Finance in 1968. The aim of the scheme is to mobilize small savings by offering an investment with reasonable returns combined with income tax benefits. So let’s know-how and how much you should invest in the scheme to become a millionaire.

PPF Gives 7.1% interest Rate

Public Provident Fund is considered a better option for long-term investment, in which you get good ROI. It is not only best for creating long-term wealth but it is also a tax-safe investment that is backed by the government. You can invest up to Rs 1.5 lakh a year, i.e. Rs 12,500 every month on which the government pays an annual interest of 7.1%. PPF has a minimum tenure of 15 years.

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Become a Millionaire by depositing INR 12,500

For example, suppose you are 30 years old at the moment and you start investing in PPF from today. If you deposit 12,500 rupees in PPF every month for about 15 years, then you make 40,68,209 rupees. Now if you do not withdraw this money, you continue to pursue PPF within a period of 5-5 years. That is, if you invest 5 years after 15 years, then after 20 years it will be Rs 66,58,288. If it is 20 years, then you can move forward the investment for the next 5 years, that is, after 25 years, this amount will be Rs 1,03,08,015.