By saving a small amount every day a big dream can be fulfilled. Daily savings can help you become a millionaire. However, for this you will have to wait for a few years. You can invest in the government’s popular scheme Public Provident Fund. In this scheme you can deposit Rs 12500 every month.
New Delhi. Are you also dreaming of becoming a millionaire? If yes, then this information may be of use to you.
We are not saying that you will become a millionaire in a few days or months. To become a millionaire, you will need to dedicate a few years of your time.
Actually, you can become a millionaire by investing in the government’s popular Public Provident Fund Scheme. For this you will have to save only Rs 416 every day for a few years.
How to get huge benefits in PPF
If you save Rs 416 every day, you will save Rs 12,500 in a month and Rs 1,50,000 in a year. You have to invest this money in PPF.
If you make this investment for 15 years, then by investing Rs 22,50,000 you will be able to earn Rs 18,18,209 as interest. After this your money will become Rs 40,68,209 after 15 years.
However, if you want to become a millionaire, then the maturity period of this scheme will have to be extended twice. In this way, investment in the scheme will have to be made for a total of 25 years.
Your investment money in 25 years will be Rs 37,50,000. At the same time, Rs 65,58,015 will be in your pocket as interest. On maturity this amount will total Rs 1,03,08,015.
How to increase maturity period
However, if you are thinking about earning money in this way, then one important thing has to be kept in mind. PPF scheme comes with a maturity of 15 years.
To extend the maturity period, you will have to apply one year in advance. This time period cannot be extended after maturity.
