Public Provident Fund: Nowadays people seek many investment options to improve their financial condition. Especially when there is a possibility of need to be needed for the future. There are many schemes available to invest, but choosing the right scheme may be a little challenging. State Bank of India PPF Scheme is a scheme that also gives good returns on low investment and also provides security. This is a great option to invest for a long period.
How does SBI PPF scheme work?
This scheme of State Bank is a government savings scheme, which is fully protected by the government. Your investment in this is completely safe and you get good returns every year. You can also start with low investment in this Public Provident Fund. Under this, you get a 15 -year maturity period, which gives you a good opportunity to save for the future. Also, if you want to continue this plan even after maturity, you can increase it for 5-5 years.
How to invest and what is its limit Public Provident Fund
If you want to invest in SBA PPF scheme, then the minimum amount for this is just ₹ 500, that is, you can start with very little investment. In addition, you can invest up to ₹ 1.5 lakh in a financial year. It gets 7.1% interest, which is a good rate and gives you better returns than other investment options. You can open it at any of both SBI Bank or Post Office.
15 years long period – when your investment will increase
The maturity period of SBI Public Provident Fund Scheme is 15 years, that is, during this time you get time to increase your amount. In addition, you can increase your investment without any additional fees. After investing in this scheme, if you want to invest even more, it can be extended further for 5-5 years. However, PPF (Public Provident Fund) account cannot be closed before three years. In certain circumstances, such as medical emergency or any other reason, you can also take advantage of loan facility.
What will be found after 15 years? Understand with an example
Let us now see that if you invest in SBI PPF scheme, then how much return you will get after 15 years.
Do you know
If you invest ₹ 2083 every month, then after 15 years your total amount will be ₹ 6,78,035, which will get an interest of ₹ 3,03,035. This Public Provident Fund Scheme is a great way to increase your money, especially when you want to invest for a long period.
Conclusion: Why State Bank PPF scheme is the best investment option
State Bank of India PPF (Public Provident Fund) scheme is a great option if you want safe and good returns for the future. In this scheme you can start with low investment and gradually increase your amount. Its 15 -year maturity period and interest rate gives you good returns, making it an effective and beneficial investment plan. In addition, tax savings and loan facilities make it even more attractive. If you are looking for a safe and profit plan, SBI’s PPF scheme can be a great investment option for you.
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