SBI PPF Scheme: SBI’s PPF scheme is a long-term investment scheme, in which the investor gets an annual interest rate of 7.1 percent. How can you increase your money by investing in this scheme. Let’s know the full news.
If you are thinking of investing your money safely and with good returns, then the Public Provident Fund (PPF) scheme of State Bank of India (SBI) can be a great option for you. This is a government scheme, which not only gives good returns to investors but also provides tax benefits. Today we will tell you in detail about SBI’s PPF scheme and will also explain how you can increase your money by investing in this scheme.
SBI’s PPF scheme, what is this scheme?
SBI’s PPF scheme is a long-term investment scheme, in which the investor gets an annual interest rate of 7.1 percent. This scheme is completely safe as it is a government scheme, and there is a government guarantee on investing in it. Apart from this, the investor also gets the benefit of saving tax in the PPF scheme (SBI PPF Scheme). This scheme comes under section 80C of the Income Tax Act, which reduces your total taxable income.
Minimum investment in SBI PPF Scheme can be started from Rs 500 per year. At the same time, the maximum investment limit is Rs 1.5 lakh per year. The investment period of this scheme is 15 years, but you can extend it in blocks of 5-5 years. Apart from this, even after 15 years you get the facility of loan from your account, which makes this scheme even more attractive.
How to make Rs 13 lakh by investing in SBI PPF scheme?
Suppose you invest Rs 50,000 annually in SBI’s PPF Scheme, then in 15 years your total investment amount will be Rs 7,50,000. You will get interest at the rate of 7.1 percent on this. On completion of the investment period, you will get a total of Rs 13,56,070 after 15 years. Out of this, more than Rs 6 lakh will be in the form of interest only. This example shows that even by regular investment of small amounts, you can accumulate a large fund, which can become a means of security and financial independence for you in future. The special thing is that in this scheme your money is completely safe and you get a fixed return.
Other benefits of PPF scheme
Security PPF Scheme (SBI PPF Scheme) is secured by the guarantee of the Government of India. Moreover, you do not have to face any risk for investing in it. Tax Benefits Investing in PPF gives you tax exemption under section 80C in Income Tax, which reduces your taxable income. Loan Facility After opening a PPF account, you can take a loan from your account after 3 to 6 years. This loan is available at a low interest rate. Long term investment With a tenure of 15 years, it is a long term investment option, which gives you strong financial security. Moreover, you can extend it even after this period.
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