This post office PPF account is especially good for those who do private jobs and whose retirement is not known.
There are many options in the market today for government investment. One of them is investing money in the post office. In this way, many schemes of Post Office like Saving, Recurring Deposit are quite popular. But the scheme that we are going to tell you today is Post Office PPF Accout. The most important thing about this account is that in this your money increases with full guarantee, along with the tax rebate lacquer is also available. This post office scheme is a better option for your retirement.
The PPF account tenure is 15 years old. After this, you can apply it every 5 years to increase it further. And they can choose whether they want to continue the contribution. This post office scheme is especially good for those who do private jobs and whose retirement is not known. Through this scheme, you can make your retirement plan yourself.
This is how you get 29 lakh fund
According to the PPF calculator, if a person deposits Rs 9,000 in a PPF account every month, then after 15 years, he will get Rs 29,29,111. Along with this, there is a tax benefit under Section 80C of the Income Tax Act. In this, deduction of up to 1.5 lakh rupees can be taken on the amount invested in the scheme. Both the interest and maturity amount earned in PPF are tax deductible.
Money is fully guaranteed
Post Office’s PPF Accout is one of the small savings schemes supported by the central government, which gives higher profits in the long term. Currently, there is 7.1 percent interest on PPF account, which is more than inflation. You can open a PPF account in any bank or post office. There is nothing to worry if your account is closed for any reason. You can start it again by depositing only 500 rupees. For this, you have to submit a written application in the post office. For this, you have to pay a minimum annual contribution of Rs 500 and a penalty of Rs 50. The advantage of opening a PPF account in the post office is that there is a sovereign guarantee on the interest earned in it, which makes it more secure than the bank’s interest.
