Investing money in the stock market can bring profits, but if you want a safe place, consider the post office. It’s a reliable option with good returns.
Post Office Public Provident Fund (Post Office PPF) Scheme: A Great Choice
The Post Office PPF scheme is the top pick for safety and profit. Even a small investment can lead to significant gains.
Secure Savings with Post Office PPF
This scheme offers both safety and savings. It’s popular due to its high returns. The rate of return remains steady, ensuring you the initially agreed upon interest rate, even if rates decrease later.
Easy Account Opening
Anyone can open an account in this scheme, except NRIs. Parents or guardians can open accounts on behalf of minors. Joint accounts and NRI accounts are not allowed.
Maturity and Tax Benefits
The scheme lasts for 15 years, extendable twice in 5-year increments. You also enjoy tax benefits. The annual interest rate is 7.1%.
Investment and Earnings
Investing Rs. 417 per day for 15 years, totaling Rs. 22.50 lakhs, can yield Rs. 12,500. The compounded annual interest rate of 7.1% also lets you earn Rs. 18.18 lakhs in interest. Combined, you can withdraw Rs. 40.68 lakhs.
Extension for Bigger Gains
By extending your investment twice, each time for 5 years, you could get Rs. 1.03 crores. The Post Office PPF scheme offers a secure path to profitable savings.