If you are looking to earn a big amount, let the PPF calculator show you the way to go. Here we take a look at how the currently high PPF interest rate will give you a massive amount on maturity. We will take a certain investment amount, to be deployed for a certain number of years and reveal the exact amount earned courtesy PPF calculator.
Why PPF? This is the age of investment. Even a simple glance at the soaring stock markets indicates that. The public is flocking to put their money in bank fixed deposits. and then there are the old faithful money spinners in the form of the Public Provident Fund (PPF). Each and every one of these money schemes has its own set of people investing in them While those who prefer high returns and don’t mind the occasional losses turn to stock markets. Those who do not want to take any risk or losses, turn to bank fixed deposits or the PPF.
Notably, a salaried individual should be looking to beef-up his portfolio as much as possible and therefore, must target taking advantage of the high PPF interest rate of 7.1%. Having set a target amount already, Rs 28 lakh, we will need to work backward and set cetrtain rules that an investor should follow to get to his goal.
The most important aspect to reach this goal is to invest Rs 9000 every month and this should be continued for 15 years that PPF allows. During this period, the investment amount will be under a lock-in period and the owner/subscriber will not be able to withdraw. While after a certain number of years withdrawal is allowed, but it is advisable never to do that. Eles, you will fail to reach your goal.
Breakup for the PPF calculator
PPF Investment frequency: Monthly
PPF investment amount: Rs 9000
PPF Duration: 15 years
PPF interest rate: 7.1%
Once the PPF calculator does the number crunching, here is the breakup of your PPF maturity:
PPF Maturity amount: Rs 28,40,115
PPF total deposit by investor: 16,20,000
PPF interest earned: 12,20,113.
In effect, the killer combination of maintaining discipline by investing Rs 9000 for 15 years and not withdrawing any money in between, made possible the generation of such a large amount for the investor.
So, in case you don’t have a PPF account or are not contributing regularly to it, take this as a big incentive.
If you invest Rs 9000 on a regular basis, you can earn a massive Rs 28 lakh, according to the PPF calculator. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
