PPF - Invest as little as Rs 1,000 Monthly to get over Rs 18 lakh

PPF Investment: Invest as little as Rs 1,000 Monthly to get Over Rs 18 lakh, here’s how.

The Public Provident Fund, or PPF, is currently one of the most popular longterm investing options in the country. It is one of the most popular types of savings among

all Indian citizens looking for a secure choice that provides consistent and appealing returns.

If an investor invests in this programme on a regular and disciplined basis, he or she can a mass a substantial amount of wealth through PPF in a couple of years.

The Public Provident Fund, or PPF, is a government-backed, high-yielding, small-savings scheme designed to provide investors with long-term prosperity after retirement. PPF is also a tax-free investment vehicle.

PPF accounts allow investors to contribute as little as Rs 500 per year and as much as Rs 1.5 lakh per year. The Public Provident Fund, or PPF, is one of India’s highest interest paying risk-free programmes.

PPF interest rates are currently 7.1%, which is significantly higher than bank FD interest rates. PPF is also one of the few EEE programmes in which the investment, interest, and corpus are all tax-free.

According to the guidelines, investors can invest in their PPF account for up to 15 years in a succession.

However, if the money is not needed at the end of 15 years, the PPF account can be extended for as many years as needed. This can be done in five-year increments by filing a PPF Account Extension Form.

If you put Rs 33 in your PPF account every day, your monthly investment will be roughly Rs 1,000. This indicates that you invest a bit less than Rs 12,000, or exactly Rs 11,988, in your Public Provident Fund account each year.

If you continue to do this from the age of 25 to the age of 60, or for 35 years, the amount you will receive at maturity may be as much as Rs 18.14 lakh at the time of your retirement.

This amount is completely tax-free, and the total interest earned will be close to 14 lakh. The total money you would have deposited over a period of 35 years would be Rs 4.19 lakh.

However, if you are unable to invest such a large sum, you are not required to.

Individuals can invest as little as Rs 500 per year into their accounts in a calendar year through the Public Provident Fund. PPF accounts can be opened online or by visiting  local bank/Post office.

Source:

youthlegal.in/ppf-investment-invest-as-little-as-rs-1000-to-get-over-rs-18-lakh-heres-how/

DISCLAIMER:

This article For Informational Purposes Only, Please read the all the scheme related information carefully before investing.  

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Also Read:

Financial freedom must for every individual Article.

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   ***** Thank You *****

Financial freedom must for every individual.

The world has learnt its lessons from an unprecedented pandemic, COVID-19. There will be huge changes in our personal as well as professional practices across the globe. If you have not learnt from it, then it is a missed opportunity.

Although there are a number of things on which we can go on discussing, I will limit the scope of this article to one's financial planning. I am going to discuss today only financial planning.

Everyone loves his family the most and whatever we do is generally done keeping in mind the wellbeing and happiness of our family. But are we doing enough? Are we investing enough to secure our future? Are we insured enough to secure our health and secure our family's wellbeing in case we are either critical or no more? Are we financially ready to face such pandemic like situation in future?

Why is financial planning, a must for every individual?

There's a famous quote of Winston Churchill which says 'Failing to plan is planning to fail' which shows the importance of planning. And when it comes to financial planning, every individual should be aware of the importance of it.

Financial planning helps to meet your short-term as well as long-term financial goals and in case of failure to meet these goals, financial planning helps to create a rescue plan so that it can fulfil all its financial objectives.

So, here are some major reasons which tell us that why the planning of finances is helpful for us as below:-

a)    Managing Inflation b) enjoy Retirement life c) Payoff your Debt d) Save Taxes e) meet your short-term as well as long-term financial goals etc.

So now classify Investments into 2 types. Long-term 30% and short-term 70 %

Long-term investments are to be made for your retirement, buying house, acquiring assets, paying off a Loans, Saving for a child’s education etc. that would give you financial freedom.

Short-term investments are for something that you would need in immediate future like some medical emergency, Emergency fund, wedding, Minor repairs and home improvements, Travel etc.

While working on above step, please consider Tax planning and insurance in it. Because it’s important to plan how to save the investments from misfortune.

Let's talk about investment first.

A)   Investments :-

Many people live lavish lifestyle, spend heavily, buy things which they can't afford or even don't need. When some adverse situation like current pandemic comes and they can't earn their regular income even for a month or two, their so called lavish lifestyle creates breathing problem for them. Many even can't afford to pay their EMIs for home loan or car loan or any other loan. They were so well off, they shy away to ask for help from their near ones.

Why we can't plan our finances well? Why we spend without first saving for our future? The formula for our cash outgo (total spending) should be total earnings less total savings. So if your formula for total savings is total earnings less total spending, please change the formula. Have a target for savings and stick to that at any cost.

Let's summarize about the investments products one should choose.

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1.      Provident fund (PF / PPF) :

2.      Fixed / Term Deposits :

3.      Recurring Deposits :

4.      National Pension Scheme :

5.      Gold / Silver /Jewellery / Stone :

6.      Real Estate :

7.      Investment in share market :

8.      Investment in Mutual Funds :

9.      National saving certificate scheme (NSC) :

10.   Senior citizen saving scheme (SCS) :

11.   Monthly income scheme (MIS) :

12.   Kisan vikas patra scheme (KVP) :

13.   Sukanya Samridhi Account (SSA) :

14.   Bonds :

15.   Debentures :

 

Now talk about Insurance.

 B)   Insurance :-

There are basically two types of insurance which are unavoidable.

Let’s summarize about the Insurance products one should choose.

 1.       Heath Insurance :

 2.       Life Insurance :

 

Now that you have done everything. You have the biggest task to do. Follow the above plan throughout the year monitor your plan, correct it for better, and stick through it.

We wish you to achieve your financial goal with freedom !!!

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DISCLAIMER:

We have only listed the investments products names in our blog. The information/contents on this blog are intended for general information purposes only. Please read the scheme related information carefully before investing. However we reserves the right to remove the investments products names from the listing.

Kindly feel free for clarifications if any or Write to us if you’re any suggestions / feedback at shahjigar33@gmail.com

 

******** About Us ********

We are Passionate about finance and hence we develop investment related excel utility to achieve financial goals for the benefit of people in India and around the World.

You may download our software full version completely free for 10 days, from below link.

https://jigardshah.blogspot.com/2015/11/auto-investment-tracker.html

Kindly feel free for clarifications if any or Write to us if you’re any suggestions / feedback at shahjigar33@gmail.com