New Delhi. In view of rising inflation in today’s time, funds of lakhs of rupees will not be enough for the fuer. A great example of this was seen by people in the Corona crisis. For the future, you have to create a fund of Rs 1-1.5 crore. Now, creating a fund of Rs 1.5 crore is also not an easy task. But it is not impossible either. If you invest with planning, you can become a millionaire in a few years. There is an option like stock market for investment, which can double your money in a few days or weeks, but the risk here is very high. To become a millionaire, you need an investment option that has guaranteed and sustained benefits. Also, the probability of loss in that option should be zero. One such good option is the Public Provident Fund (PPF). Anyone can start investing in PPF anytime. There is a trick to quickly become a millionaire from PPF, which we will tell you here.
Know the Mathematics of Investment
If you start investing at the age of 30, then you will have 30 years to invest till retirement (age 60). The maturity period of PPF is 15 years. But you can increase it. In such a situation, you can continue investing in PPF account, on which you will continue to get interest. To continue investing in PPF account for 30 years, Form-H has to be submitted thrice. You will have to do this work in the 15th year, 20th year and 25th year of opening a PPF account.
How to become a millionaire
According to the PPF calculator, if the current interest rate of 7.1 percent is kept intact for the entire period, then under normal circumstances, by investing Rs. 12500 per month, after 15 years you will get a total of Rs 40,68,209. Similarly, if you deposit money for a long time and continue investing in PPF account, then you will also get interest on the money you have deposited in the last 15 years. Then finally the PPF maturity amount you will get after 30 years is Rs 1,54,50,911 or Rs 1.54 crore.
How To Extend Your PPF Account Without Investing?
This is a special trick
Talking about the special trick, the PPF account holder should invest between the first and fourth dates of every month. This will help the PPF account holder to get PPF interest in the same month. Actually according to PPF rules, if you invest from the first to the fourth of the month, then you will be considered eligible for PPF interest rate for the same month.
You will get strong tax benefit
With an investment of Rs 12,500 per month, your investment in the financial year will be Rs 1.5 lakh. In this sense, you will get tax benefit on the entire investment of PPF. The maximum limit for availing tax benefits in PPF is Rs 1.5 lakh only.
PPF is EEE Scheme
PPF is an ‘EEE’ category investment scheme. EEE here means discount, discount, discount. That is, you get tax rebate on the interest you get during the investment period, the amount you invest and the maturity.
