PPF Crorepati Calculator: Giving great relief to common investors, the government has decided not to reduce the interest rates on small savings schemes.
PPF Crorepati Calculator: Giving great relief to common investors, the government has decided not to reduce the interest rates on small savings schemes. In this regard, the government has withdrawn the announcement of reducing rates on March 31. For the April to June quarter, interest on small savings schemes will continue to be available as before. This decision of the government has also given great relief to the working class, among whom Public Provident Fund ie PPF is a popular investment option. PPF is getting interest at the rate of 7.1 percent compounding annually, which will continue even further. PPF is a better option for those who are aiming to build a fund for the future. Here, many small savings schemes including FD are giving better returns.
While keeping money in the bank where the savings account is getting 3 to 3.5 percent annual interest, the rates of FD are also very low compared to PPF. At the same time, experts still consider this scheme as a guarantee of returns. The best thing is that due to the post office scheme, every single deposit of your money is also safe here. At the same time, the return will also be guaranteed according to the fixed interest.
Amount on maturity
Maximum Monthly Deposit: Rs 12,500
Maximum Annual Deposit: Rs 1,50,000
New Interest Rates: 7.1 per cent Compounding
p.a. Amount on Maturity after 15 years: Rs 40,68,209
Total Investment: Rs 22,50,000
Interest Benefit: Rs 18,18,209
How much investment for 1 crore fund
Maximum Monthly Deposit: Rs 12,500
Maximum Annual Deposit: Rs 1,50,000
New Interest Rates: 7.1 per cent Compounding p.a.
Amount on Maturity after 25 years: Rs 1.03 crore
Total Investment
: 37,50,000 Interest Benefit: Rs 65,58,015
(Note: According to 7.1 percent interest rates, you will have to wait for 25 years to create a fund of 1 crore. For this, you will have to invest Rs 37,50,000.)
Why is better option
- Now only 3 to 3.5 percent annual interest on savings accounts of most banks. Although some banks also give interest around 6 percent on savings account.
- Interest around 5.5 to 6.25 percent on 5-year bank FD.
- Even in the circumstances of uncertainty, the return will be given according to the interest fixed. Whereas there is a risk of sinking investment in the capital market.
- Over 20 per cent decline in each category of equity segment in mutual funds during the last 1 year.
- 23 percent decline in equity market in 1 year.
- Security guaranteed on every penny deposited in the post office. Whereas in banks, insurance is available only on the amount up to 5 lakhs. That is, if the banks sink, then only your amount of 5 lakhs will be safe.
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