The art of making money is not such a big secret. Ideally, whatever money you can save, invest it in any instrument that is safe, keep investing every month and leave the amount there without withdrawing it for any reason. This applies to the Public Provident Fund (PPF), a magnificent money-making tool for most of the country’s population. PPF is for everyone who does not want to put their money at risk. No matter how long you invest, it remains safe and will make you very wealthy when you eventually withdraw it. And here, we tell you how you can turn PPF interest rate of 7.10% into something really advantageous. Even if you start late, this PPF interest rate can still generate massive amounts for you.
Find out now how this PPF interest rate can turn your Rs 9000 into a massive sum of over Rs 1 crore. Let us say, a person who is 20 years old, starts a PPF account and starts saving Rs 9000 every month for s long as 30 years.
By the time this PPF account holder is just 50 years old, there will be as much as Rs 1,11,24,655 in his account, according to the PPF calculator.
There is just one thing a PPF account holder has to look at – he must go to the bank and extend his account beyond 15 years. This can be done indefinitely in batches of 5 years.
The most important thing to look at, apart from the massive wealth that has been accumulated, is that this money is tax free. You will not be paying any tax on this amount that you have saved.
A double windfall! So, almost 10 years before retiring, this person has a fat amount that can be used to buy a house, provide better education to children, get retirement benefits flowing early and much more.
PPF interest rate: A sum of Rs 9000 invested regularly on a monthly basis can get an investor over Rs 1 crore! Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
