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Wednesday, October 27, 2021

PPF Calculator: PPF will not reduce interest; Fund to be made of 1 crore, how much will be invested?

PPF Crorepati Calculator: The government has decided not to reduce the interest rates on small savings schemes while giving great relief to the common investors.

PPF Crorepati Calculator: The government has decided not to reduce the interest rates on small savings schemes, giving big relief to the common investors. In this regard, the government has withdrawn the announcement to reduce the rates on 31 March. For April to June quarter, interest on small savings schemes will continue to be available as before. This decision of the government has also brought immense relief to the working class, among whom public provident fund i.e. PPF is an option for popular investment. PPF is getting interest at 7.1 per cent compounding annually, which will continue even further. PPF is a better option for those with the goal of creating funds for the future. Here many small savings schemes including FD are getting better returns.

While keeping the money in the bank where the interest on savings account is getting 3 to 3.5 per cent per annum, FD rates are also much lower than PPF. At the same time, the experts still consider this scheme as a guarantee of return. The best thing is that due to the post office plan, every one of your deposit capital is also safe here. At the same time, according to the fixed interest, returns will also be guaranteed.

How much amount on maturity

Maximum Monthly Deposit: Rs 12,500
Maximum annual deposit: Rs 1,50,000
New Interest Rates: 7.1% compounding annually
Amount at maturity after 15 years: Rs 40,68,209
Total Investment: 22,50,000
Interest benefit: Rs 18,18,209

How much investment for 1 crore fund

Maximum Monthly Deposit: Rs 12,500
Maximum annual deposit: Rs 1,50,000
New Interest Rates: 7.1% compounding annually
Maturity amount after 25 years: 1.03 crore rupees
Total Investment: 37,50,000
Interest Gain: Rs 65,58,015

(Note: According to 7.1 per cent interest rates, to make 1 crore fund, you will have to wait for 25 years. For this you will have to invest Rs 37,50,000.)

Why is there a better option

  • Now 3 to 3.5 percent annual interest on most bank’s savings accounts. However, some banks also give interest on savings account around 6 per cent.
  • Interest on a 5-year bank FD is around 5.5 to 6.25 per cent.
  • Even in circumstances of uncertainty, returns will be given according to the interest fixed. While there is a risk of drowning of investment in the capital market.
  • In the mutual fund, there has been a decline of more than 20 per cent in every category of equity segment during the last 1 year.
  • 23% drop in equity market in 1 year.
  • Security guaranteed for every penny deposited in the post office. Whereas in banks, insurance is available only on the amount up to 5 lakhs. That is, if the bank is drowned then only your amount of 5 lakhs will be safe.

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Nisha Chawlahttps://www.businesskhabar.com/
She is an expert in Banking, Finance and working with an international bank. She sharing her ideas and knowledge with Business Khabar.
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