The Post Office's Superhit Scheme offers a monthly deposit of Rs 12,500 with interest income of Rs 65.58 lakh. For further information, see this link

The Post Office's Superhit Scheme offers a monthly deposit of Rs 12,500 with interest income of Rs 65.58 lakh. For further information, see this link

The Post Office's Superhit Scheme offers a monthly deposit of Rs 12,500 with interest income of Rs 65.58 lakh. For further information, see this link

How to make money using the Post Office 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: How to Make Money: Yes, there are several schemes like this one 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 term, this post office strategy is quite beneficial in building a substantial wealth.

the most secure investment

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 post office's PPF plan offers 7.1 percent yearly interest.

You may open an account at a bank branch.

Public Provident Fund (PPF) accounts may be opened at post offices and bank branches. All it takes to create this account is Rs 500. Up to Rs 1.50 lakh may be put in this Lana. This account will mature in fifteen years. However, there is a possibility to prolong it in the 5–5 year range following maturity.

Make a monthly investment of Rs 12,500 and become a billionaire!

If you deposit Rs 12,500 per month in a PPF account and keep it for 15 years, you would collect a total of Rs 40.68 lakh on maturity. You will invest a total of Rs 22.50 lakh in this, and you will get Rs 18.18 lakh in interest.

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.

In this manner, crores of profit would be made

After fifteen years, you will need to double it if you want to use this method to become a billionaire. Thus, you now have a 25-year investment period. As a result, in 25 years, your entire corpus will be Rs 1.03 crore. During this time, you will invest a total of Rs 37.50 lakh and earn interest of Rs 65.58 lakh.

Remember that you must apply a year before to the PPF account's maturity if you want to prolong it. After maturity, the account cannot be extended.

tax advantages

The PPF scheme's primary benefit is that it offers tax advantages under Section 80C of the Income Tax Act. Refunds on investments made in the plan up to Rs 1.5 lakh are available under this. Taxes do not apply to interest or maturity amounts earned in PPF. Consequently, investing in PPF is classified as "EEE."

Above all, the government offers tiny savings programs. As a result, subscribers' investments are fully secured. On the interest gained in this, a sovereign guarantee is offered.