PPF Calculator: Earn over Rs 3 crore! Big benefit from PPF interest rate for you

Here is a big reason why you should start your Public Provident Fund (PPF) journey as soon as possible – delays can rob you of a lot of wealth. Regrettably, very few people manage to actually open their PPF account, leave alone for their children, till late in life. They should try and learn a big lesson here: To become a crorepati, you need to invest smartly as well as early.
Is PPF a safe investment choice?
While many investment vehicles exist in India today, they carry a lot of risk. Very few people want to take such risks and lose their money. For them safe investment options are the best till they reach a point in their careers where they can enter other areas like stock markets.
Among the safest investment options available to everyone in India is the PPF. It is not just the safest, it is the simplest too. You just have to make your contributions and sit back and watch the wealth grow. You can even cock a snook at the taxman, because the PPF interest is absolutely tax-free. In fact, you get a section 80c benefit from it for its full amount of Rs 1.5 lakh while filing income tax returns every year.
How PPF can make a crorepati
Considering all these benefits, wealth accumulation, safety, as well as tax-free status, the PPF should be on most everyone’s agenda. Not suitably impressed? Let us take an example of a man who starts his PPF journey at the age of just 20. He is a serious wealth accumulator and contributes the full amount of Rs 1.5 lakh right in the beginning of the year, year after year. And he also extends the PPF account, which reaches maturity after 15 years when the lockin period is over too, by a batch of 5 years for the next 25 years. That means, he keeps contributing for 40 years in all to his PPF account. The PPF interest rate currently is 7.10%.
So, by the time he reaches the age of 60 and wants to retire or withdraw the PPF money to buy a house, a car, send children to good educational institutions of higher learning, or simply ensure a steady retirement income, the man would have accumulated an awesome amount of wealth just on the basis of his PF account.
After the PPF calculator does the number crunching, it shows the man has earned a substantial amount of Rs 3,29,09,660. Yes, the man ended up being a crorepati multiple times over. This will ensure quite a comfortable lifestyle for him and his family well into the future even if he stops working and retires.
Note: The sums mentioned here are estimations. The actual amounts will be provided in the PPF passbook.

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