You can also create a fund of lakhs of rupees through Small Savings Scheme. Yes, these schemes are also guaranteed by the government. We are telling here about the PPF scheme where if you invest Rs 150 per day, you will get an additional fund of more than Rs 20 lakh in just 20 years of job. Experts say that by stopping some non-essential expenses from everyday expenses, then 100-150 rupees can be saved. At the same time, if you put this money in the small savings schemes of the government, then it can get a big benefit.
Know how to get more than 20 lakh rupees –
If you are 25 years old then this is the best chance to get big returns in small amounts. Experts say that if you have an income of up to 30-35 thousand rupees, then in addition to any other savings, initially, 100-150 rupees can be saved daily. These savings can give you an additional fund of more than 20 lakh rupees at the age of 45 so that you can easily meet your big needs while working.
>> If you invest in PPF with a view to saving Rs 150 per day, then it will be Rs 4500 monthly. If you invest Rs 4500 every month, the annual investment will be Rs 54 thousand.
>> At the same time, the total investment in 20 years will be Rs 10.80 lakh. In terms of compounding at 7.1 percent per annum, you will get a ready fund of more than 20 lakh rupees in 20 years.
Benefits of Small Savings Scheme PPF account
>> This account can be opened with just Rs.100. Joint account can also be opened.
>> There is nomination facility in it only at the time of opening the account. Even after the completion of the maturity period of 15 years, it can be extended 2 times for 5-5 years.
>> The income from this is tax free. Loan can also be taken on the account from the third financial year. Banks, post offices give you the facility to open PPF account. This account can be opened for 15 years, which can be extended for a further period of 5 years.
>> Currently, the interest rate on PPF is 7.1 percent, which is compounded annually. An account can be opened in PPF with a minimum of Rs 100. In this, it is necessary to invest at least Rs 500 in a financial account, while you can invest a maximum of Rs 1.5 lakh in the account in a year.