New Delhi: If you want to build a big fund over a long period of time without much risk, then Post Office Public Provident Fund (PPF) Or National Savings Certificate (NSC) Government savings schemes like these can be a good option for you. Big money can be created by regular investing and taking advantage of compounding over a long period of time. Although, "Sure to become a millionaire" It would not be correct to say, as it depends on the amount of investment, tenure and applicable interest rate.
Why is PPF special?
Public Provident Fund (PPF) is a popular savings scheme supported by the Government of India, which:
- The investment period is 15 years.
- A minimum investment of ₹500 and maximum of ₹1.5 lakh can be made every year.
- The interest rate is decided by the government from time to time.
- Tax benefits (as per current rules) are available on investment, interest and maturity amount.
How can a fund worth crores be created?
If an investor every year maximum limit If he invests regularly up to Rs. 1000 and continues investing for a long time by extending the account as per the rules after maturity, then Compounding (compound interest) Because of this, a huge fund can be generated over time. The actual final amount will depend on the interest rate applicable at that time and the investment tenure.
Better for which people?
- working people
- small traders
- long term investors
- Investors creating retirement funds
Be careful before investing
- Be sure to check the current interest rate of the scheme.
- Make regular investments every financial year.
- Don't make investment decisions based solely on viral claims on social media.
- Invest as per your income, financial goals and risk appetite.
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