IF you deposit Rs 2,500 per month in the PPF scheme, how much will you get on maturity
Public Provident Fund (PPF) is a government savings scheme. The PPF scheme’s interest amount is decided by the Indian government’s finance ministry. Now, 7.1% interest gives the PPf scheme. In the PPF scheme, you should have at least Rs 500 in savings once a year. In this scheme, you can choose a one-time payment or a 12 EMI system. As per the rule, PPF accounts have a limit of Rs 500 to Rs 1.50 lakh once a year.
The PPF account matures in 15 years. But you can proceed for 5 -5 years by writing an application. You can open a PPF account in any bank. If you save Rs 2,500 every month, your yearly savings are Rs 30,000. After 15 years, you will get Rs8,13,642 in maturity. In this, your total investment of Rs 4,50,000 and interest 3,63,642 are included.
You need to be especially careful about your PPF account. If you don’t deposit even a minimum of Rs 500 in a year, your account will be closed. However, it can be reactivated by paying a fine. You also get the facility of loan with your PPF account. As we told you, PPF is a government scheme. After opening a PPF account, you cannot withdraw money before 5 years. After 5 years, money can be withdrawn from the PPF account only in some special circumstances like serious illness or for children’s education.
