Post Office Superhit plan: To learn more about the whole plan, deposit Rs 12,500 every month and get Rs 1.03 crore

 Post Office Superhit plan: To learn more about the whole plan, deposit Rs 12,500 every month and get Rs 1.03 crore

Post Office Superhit plan: To learn more about the whole plan, deposit Rs 12,500 every month and get Rs 1.03 crore

Post Office Superhit Scheme: This scheme's unique selling point is how secure your money is. The changes in the market have no effect on it.

Post Office Scheme: Earn money: There are several schemes that may make you wealthy if you know how to invest your money wisely. The Post Office's Public Provident Fund (PPF) program is one example of such a plan. In the long run, this Post Office plan is particularly beneficial for building large corpora.

safest financial venture

This scheme's unique selling point is how secure your money is. The changes in the market have no effect on it. The government sets these interest rates, which are reviewed every three months. Currently, the PPF plan provides the post office with an annual interest rate of 7.1 percent.

You may open an account at a bank branch.

A Public Provident Fund (PPF) account may be opened at a bank branch or post office. All it takes to create this account is Rs 500. An annual deposit of up to Rs 1.50 lakh is permitted in this. This account has a 15-year maturity. However, there is the option to prolong it further in the 5–5 year range following maturity.

Will create crorepati with a monthly investment of Rs 12,500

Monthly deposits of Rs 12,500 into a PPF account, kept up for 15 years, would yield a total of Rs 40.68 lakh at maturity. Your whole investment in this will be Rs 22.50 lakh, and the interest you get would be Rs 18.18 lakh.

For the following fifteen years, an interest rate of 7.1% annually has been assumed in this computation. When the interest rate fluctuates, the maturity amount might also. Be aware that PPF compounding occurs once a year.

This will result in a profit of crores.

You must boost it twice after 15 years for 5–5 years if you want to profit from this program and become a billionaire. In other words, you now have a 25-year investment tenure. Your entire corpus would thus be Rs 1.03 crore after 25 years. During this time, you would invest a total of Rs 37.50 lakh and get interest income of Rs 65.58 lakh.

Remember that you must apply for an extension of the PPF account at least one year before to its maturity if you would want to prolong it further. After maturity, the account cannot be extended.

Tax benefit

The PPF scheme's primary benefit is that it offers tax advantages under Income Tax Act section 80C. This allows for a deduction of up to Rs 1.5 lakh for plan investments. In PPF, both the interest generated and the maturity amount are tax-free. PPF investments fall within the "EEE" category in this sense.

Above all, the government offers tiny savings programs. As a result, subscribers' money is fully protected in this. A sovereign guarantee on the interest earned is there in this.