Post Office Saving Scheme: Great savings scheme, invest with just Rs 500, you will get lakhs of rupees

Post Office Saving Scheme: If you want to earn great money through investment, then you can approach the schemes running in the post office. There is no risk involved in these plans.

Generally, the post office gets better interest than the bank. Similarly, Public Provident Fund (PPF) of Post Office is a great investment option. Its most important thing is that investment can be started with less money in it and good returns can be achieved.

At present, the government has declared an interest rate of 7.10 percent on PPF. The government changes it from time to time. But despite these changes, the interest rates in this scheme do not come down much. Any citizen of the country can open this account.

Post Office Saving Account: More interest is available on Post Office Savings Account, know its benefits

how much will you have to invest

Under PF, you can invest a minimum of Rs 500 in a financial year. There is no limit on the maximum amount deposited. But you will get exemption under Section 80C of Income Tax up to a maximum of Rs 1.5 lakh. The interest income on maturity will also be completely tax free. This scheme is for 15 years, from which it cannot be withdrawn in the middle. But it can be extended for 5-5 years after 15 years.

loan facility

Loan facility is available on investment in PPF. This facility is available for a period of five years. You can get a loan up to 25 percent of the amount deposited in your account. Loan can be taken only once in a financial year.

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If deposited 500 rupees every month

Depositing Rs 500 for 15 years will make Rs 90,000. The interest on this will be Rs 67,784. Overall after 15 years you will get a total of Rs 1,57,784.

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