This Public Provident Fund trick is something that everyone Should try and follow. Maximising your gain is always the top priority for a PPF investor, but often he ends up making basic mistakes and thereby loses hundreds of thousands of rupees and more. The idea is to check the best PPF strategy to invest before hand. We provide to you here a PPF trick that will give you tens of thousands of rupees extra. Notably, PPF interest rate of 7.10 per cent can be a real money spinner for the investor.
To take full advantage of the high PPF interest rate and make your money grow to the maximum amount possible, you need ensure that your contribution reaches your PPF account as soon as the new fiscal starts. Yes, you need to put in your Rs 1.5 lakh allowed at the beginning of April itself. The PPF Calculator will show you how much this PPF trick can be advantageous to the investor.
Let us say that a PPF account holder is a very serious person and focused on growing his money. He invests Rs 12500 every month, starting from April and reaches the Rs 150000 mark allowed by the government in the month of March. After the maturity tenure of 15 years is over, the PPF calculator shows that the person earned Rs 39,44,600. Indeed a magnificent amount!
While the PPF investor invested a sum of Rs 22,50,000, the interest he earned was 16,94,599.
However, this move lost a lot of money for him. He could have done better.
Now, let us go back to our PPF calculator and say that the PPF investor contributes his Rs 150000 right in the beginning of the year, the entire sum in April. The PPF calculator shows that this simple strategic change fetched the person thousands of rupees extra. This PPF trick comes bearing a gift!
The PPF calculator shows that after 15 years, the amount that the investor will get is Rs 40,68, 208!
In this instance, the PPF investor too invested a sum of Rs 22,50,000, but the interest he earned was a whopping 18,18,209!
Now that the PPF trick has been explained here, do some research and see if that is possible for you.
NOTE: The sums mentioned here are estimates and the real amount and interest will be available in the PPF passbook. The investor must consult a professional before investing.
This PPF trick can get you the maximum money and stop you from losing tens of thousands of rupees. Your Rs 1.5 lakh will give you over Rs 40 lakh and not just over Rs 39 lakh. Check PPF calculator. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
