PPF Scheme: PPF i.e. Public Provident Fund is a government savings scheme. Due to guaranteed returns, you can invest in it tension free.
You can deposit up to Rs 1.5 lakh annually in PPF account. At present, 7.1% interest is being offered on the scheme.
Through PPF scheme, you can create a huge fund of ₹ 27 lakh. Know the complete calculation here.
For this, you will have to invest Rs 1-1 lakh annually for 15 years, on which you will get interest at the rate of 7.1%.
After 15 years i.e. by the maturity of the PPF account, you will have invested a total of Rs 15 lakh.
You will earn total interest of ₹ 12,12,139 on this investment.
At the time of withdrawal, you can withdraw both the investment amount (₹ 15 lakh) and the interest amount (₹ 12,12,139) together.
That means by investing in PPF, you can get a total maturity amount of ₹ 27,12,139 after 15 years.
