Post Office Scheme: Post office offers many types of saving schemes. Under this, safe and guaranteed returns are given. If you are also looking for a safe scheme for good income after retirement, then Public Provident Fund Scheme of Post Office can be a better option for you. Because an annual interest rate of 7.1% is offered in this. You also get tremendous returns on maturity of 15 years.
Benefits of Post Office PPF
A minimum of Rs 500 and a maximum of Rs 1.5 lakh can be invested every year in the PPF scheme of the post office. From January 1, 2023, the interest received on the PPF scheme has also increased to 7.1%. The best thing is that in this post office scheme, tax deduction of up to Rs 1.5 lakh is available under 80C. Apart from this, the interest income is also tax free. The deposit amount in the scheme can be deposited in lump sum or in installments as well.
PO PPF Calculator
Every month you deposited an amount of Rs 5000 under Post Office PPF. Means invested 60000 rupees every year. In this context, the investor deposited a total amount of Rs 9 lakh for 15 years. Adding interest of 7.1% per annum on this, then the investment amount will increase to Rs 16,27,284 on maturity of 15 years.
That is, during the period of 15 years, Rs 7,27,284 was earned from interest. There is a facility to extend this account further in the bracket of 5-5 years after maturity. Guaranteed security on every penny deposited in the post office.
