Post office superhit program: deposit Rs 12,000 per month, earn Rs 1 crore in earnings, and learn more about the program

 Post office superhit program: deposit Rs 12,000 per month, earn Rs 1 crore in earnings, and learn more about the program

How to make money with the Post Office Superhit Scheme: This strategy is unique in that your money is entirely secure. The state of the market has no impact on it.

Post Office Scheme: There are many such programs that may make you wealthy if you know how to invest money wisely. The Post Office's Public Provident Fund (PPF) program is one such program. Long-term, the Post Office's plan is particularly beneficial for building large corpora.

a risk-free investment

This strategy is unique in that your money is entirely secure. The state of the market has no impact on it. The government sets these interest rates, which are evaluated every three months. Currently, the PPF system pays the post office an annual interest rate of 7.1 percent.

In a bank branch, an account may be opened.

Public Provident Fund (PPF) accounts may be opened at post offices and bank branches. Just 500 rupees may be used to start this account. A yearly contribution of up to Rs 1.50 lakh may be made in this. This account has a 15-year maturity. However, there is a possibility to prolong it further in the range of 5–5 years following maturity.

will become a crorepati by making monthly investments of Rs 12,500

If you keep a PPF account for 15 years and contribute Rs 12,500 each month, you would get Rs 40.68 lakh at maturity. Your total investment in this will be Rs 22.50 lakh, and your interest income would be Rs 18.18 lakh.

This computation was performed with the assumption that for the following 15 years, the interest rate would be 7.1% annually. When the interest rate changes, the maturity amount could too. Please note that PPF compounding occurs once a year.

This will result in a profit of many crores.

You must double it after 15 years for 5-5 years if you want to use this technique to become a billionaire. In other words, your investment tenure has increased to 25 years. Your entire corpus would thus be Rs. 1.03 crore after 25 years. Your entire investment over this time will be Rs. 37.50 lakh, and your interest income would be Rs. 65.58 lakh.

Remember that you must submit your application one year before to the maturity date if you wish to prolong your PPF account. Once the account reaches maturity, it cannot be renewed.

tax benefit

The fact that the PPF program offers tax advantages under section 80C of the Income Tax Act is by far its greatest benefit. This allows for a deduction for plan investments up to Rs 1.5 lakh. In PPFs, both interest and the maturity sum are tax-free. This places PPF investments in the "EEE" category.

The government is the main supporter of modest savings programs. As a result, the subscribers' money is fully protected. In this, the interest earned is guaranteed by the government.