PPF Interest Rates: Invest 300 rupees daily and receive 2.36 crores on retirement, Check PPF Calculation

Public Provident Fund (PPF) is one of the most popular investment plans under the Small Savings Scheme. It is a highly beneficial investment option that offers excellent interest rates and tax exemption advantages.

Investing in PPF comes with the assurance of guaranteed returns and no risk of losing your money. To invest in the PPF scheme, you can open an account at your nearest post office with a minimum deposit of Rs 1,000 and a maximum deposit of Rs 1.5 lakh.

The PPF account has a maturity period of 15 years, and the current interest rate stands at 7.1 percent (PPF Interest Rates 7.1). However, if you require funds before the maturity period, you can make partial withdrawals of up to 40 percent of the invested amount. It’s important to note that the amount invested in PPF qualifies for tax exemption under Section 80C.

One of the key advantages of the PPF scheme is that it falls under the EEE (Exempt-Exempt-Exempt) category. This means that your investment, the interest earned, and the maturity amount are all completely tax-free.

Investing in a Public Provident Fund (PPF) account with the right plan can help an investor achieve millionaire status. Let’s dive into the calculations:

  • By investing Rs 9,000 every month, which amounts to Rs 300 per day, the PPF calculator reveals that over a period of 15 years at the current 7.1% interest rate, the investment can grow to Rs 29.2 lakh.
  • Continuing with a monthly investment of Rs 9,000 over 20 years at the same interest rate, the total maturity amount can reach Rs 47.9 crore. Extending the investment duration to 25 years, the maturity amount can increase to Rs 74.2 crore. Moreover, if the investor persists with the monthly investment of Rs 9,000 for 30 years, the maturity amount can reach an impressive Rs 1.11 crore.
  • Similarly, for a PPF account with a monthly contribution of Rs 9,000 and an interest rate of 7.1%, the maturity amount further grows to Rs 1.63 crore in 35 years and Rs 2.36 crore in 40 years. This means that if an investor begins investing in the PPF scheme at the age of 20 and continues until retirement at the age of 60, their account can accumulate Rs 2.36 crore.

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