You must have heard about many schemes of the post office but do you know that there is one such post office in which your money is safe and you also get good interest. In this scheme, you can save Rs 411 daily and get Rs 43.60 lakh after 15 years.

We are talking about the Public Provident Fund (PPF) scheme. This scheme is a great opportunity for those who want big returns with a small investment. It is a government scheme in which both the amount deposited and the interest earned on it are tax-free. This means that you will not have to pay any tax on the interest. Let’s understand it in simple terms.

The tenure of PPF account is 15 years and currently it gives 7.9 percent interest rate. You can deposit minimum Rs 500 and maximum Rs 1.5 lakh every year. If you deposit Rs 1.5 lakh every year, then after 15 years you will get Rs 43.60 lakh.

Out of this, Rs 21.10 lakh will be in the form of interest. That is, if you save Rs 12,500 every month, that is, about Rs 411 daily, then after 15 years, you will have such a huge amount in your hands. This scheme is also special because it is backed by the government, so there is no fear of your money sinking. It also provides tax exemption on the deposit and interest, which comes under section 80C of the Income Tax.

Depositing money in a PPF account is also very easy. You can deposit it in one go or in 12 installments. If you deposit Rs 500 in the first year, but do not deposit the minimum amount for the next two years, the account may be closed. There is no provision for opening a joint account in this scheme, but any person, regardless of his age, can open this account.

Apart from this, you can also take a loan under this scheme, which is available for the first five years of opening the account. This facility is very useful in emergencies. The post office has also started an online facility to deposit money in PPF. You can easily transfer money through the PostPay app or India Post Payments Bank (IPPB). For this, you have to link your bank account with IPPB.

Then go to the IPPB app and select the PPF option, enter your PPF account number and customer ID, and select the deposit amount and tenure. After making the payment, you will receive a message with all the information. This scheme is best for those who want a safe investment. It not only gives good returns, but it also gives higher interest than bank FDs. So if you want to save for the future, PPF is a good option.

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This scheme was started under the Beti Bachao, Beti Padhao campaign and attractive interest rates and tax benefits are given by the government on investment in it. If you also want to make your daughter’s future bright and make her happy and prosperous, then you have to deposit only Rs 3000 monthly under this scheme. After doing this, your daughter will get Rs 10 lakh. Let’s know its method.

Investment plan to get Rs 10 lakh under the scheme

If you want to create a corpus of Rs 10 lakh for your daughter, you will have to make regular monthly investments in Sukanya Samriddhi Yojana. The current interest rate of this scheme is 8% (January-March 2024), which is revised by the government from time to time.

Calculating monthly investment to create a fund of Rs 10 lakh

A minimum of Rs 250 and a maximum of Rs 1.5 lakh can be invested annually in Sukanya Samriddhi Yojana. If you want your daughter to get Rs 10 lakh on maturity, you will have to deposit a fixed amount every month.

• Scheme tenure: Investment for 15 years and maturity in 21 years
• Interest Rate: 8% p.a. (including compound interest)
• Monthly investment: Rs 3000 to Rs 3500
• Total investment amount: Rs 5,40,000 (over 15 years)
• Total return after 21 years: More than Rs 10 lakh

Invest like this

• SSY account can be opened for 10 years from the birth of the daughter.
• You can invest a minimum of Rs 250 and a maximum of Rs 1.5 lakh annually.
• In this scheme, money has to be deposited for 15 years, after which interest continues to be received for 6 years.
• After completion of 21 years, the daughter gets Rs 10 lakh or more.

Benefits of SSY Scheme

• Bumper Returns: Better interest rate than PPF and FD
• Tax benefit: Investment, interest and maturity amount are tax exempted under section 80C
• Government Guaranteed Scheme: This is a government-backed scheme, hence safe and reliable.
• Funds for daughter’s education and marriage: The aim of the scheme is to make daughters financially capable.

You have to do this work

If you want your daughter to get an amount of Rs 10 lakh, then you have to invest Rs 3000 to Rs 3500 monthly in SSY. After investing regularly for 15 years, you will get an amount of more than Rs 10 lakh in 21 years. This scheme is an excellent option for long-term savings and bright future of daughters.

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The sooner you start this, the less your tension will be for your children’s future. Let us tell you how you can make your child the owner of Rs 2 crore.

After all, who is not worried about the future of children? When they grow up, you have to start financial planning much in advance for everything from their education to marriage. Otherwise you will have to worry later. Imagine if you are told about such an investment scheme which can make children the owners of more than Rs 2 crore at the age of 21.

If you are a newly married couple or have just become parents. Then you can start this investment plan from the birth of the child. In 21 years, it will give you so much return that the child will have an amount of more than Rs 2.1 crore. Let’s understand the calculation

Deposit just Rs 10,000 every month

If you want your child to have more than Rs 2 crore at the age of 21, then you will have to invest Rs 10,000 every month in SIP. With this, you will be able to deposit Rs 25.20 lakh in the name of the child in 21 years. Now let us assume that you get 16 percent return on SIP. Then you will have an amount of Rs 2.06 crore after completion of 21 years.

Rs 25.20 lakh deposited in the name of the child will earn you Rs 1.81 crore in 21 years. After the child turns 21 years of age, this amount can be used for investment in the child’s education, marriage or business. By the way, let us tell you that ICICI Prudential Multi Asset Fund has given returns of up to 21%.

If you get only 12% interest

Let us assume that you did not get 16% interest and got only 12% interest in SIP. Even then you will not have to regret your investment. In that case also your child will have a return of Rs 88.66 lakh on an investment of Rs 25.20 lakh. He will have a total amount of Rs 1.13 crore.

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The first five years of your investment can choose the right path for you, so it is important to choose the right plan during this time. Know here where you can invest your money for good returns in the next five years.

1. ELSS (Equity Linked Savings Scheme)

ELSS is considered one of the most popular schemes for short term. This is a mutual fund scheme, which is managed by a fund manager. Under this, your money is strategically invested in different asset classes. This scheme is linked to the market, so there is risk, but you also get good returns here.

2. ULIP (Unit Linked Insurance Plan)

ULIPs or Unit Linked Insurance Plans are a mix of insurance and investment plans. That means you get double benefit. Apart from this, you get premium protection, diversified asset allocation, tax benefits with systematic withdrawal option. Due to many unique features, this can be a great option for you for the next 5 years.

3. NSC (National Savings Certificate)

This scheme run by the government gives you guaranteed returns. It is like a fixed deposit scheme in a bank, which comes with a lock-in period of 5 years. Now you get interest at the rate of 7.70% on NSC. On this, you can take tax exemption on the annual interest return, tax exemption is also available on the principal amount of the investment.

4. FMP or Fixed Maturity Plan

Fixed maturity plan is also a good option for you. It is a debt based close ended mutual fund, under which invests in debt instruments. Investments are made in such debt instruments, which mature with the scheme itself. Here you can get more returns than bank FD.

5. Liquid Funds

Liquid funds are also a mutual fund, it comes with a maturity period of 91 days. If you are looking for an option with high liquidity in short tenure, then these funds are for you. However, since these funds are market linked, the returns depend on the assets your funds are linked to.

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Looking at the new savings schemes, now you will easily start getting the benefit of 8% in the government savings scheme. You can take advantage of all these schemes from any government or post office bank as well as national bank.

7.7% interest option introduced.

Government’s investment plan National Savings Certificate has been increased by 0.7%. Now for the new interest rate, you will have to invest between April 1 and June 30, 2023, and you will be provided an interest of 7.7% for this, let us tell you here that this interest rate was just 7% before April 1.

8% interest option introduced.

The change in the interest rates of Sukanya Samriddhi Yojana, the most known and recognized small savings scheme in India, has come into force from today. Changes in the interest rates of Sukanya Samriddhi Yojana have been increased by 0.4%.

People investing in Sukanya Samriddhi Yojana will now be provided an interest rate of 8%. Here you should be aware that earlier the interest rate of 7.6% was being made available on Sukanya Samriddhi Yojana.

Option presented with 8.2%.

If any person in the house comes in the senior citizen category, then the Government of India has also revised the interest rates for them. The interest rate for senior citizens, which was earlier 8%, has now been increased to 8.2%. To get this interest, you have to deposit your investment under the Senior Citizen Savings Scheme.

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Generally, the interest rate on RD is also like that of FD. The Reserve Bank of India is continuously increasing the repo rate, after which many banks have increased the interest rates on 5-year RDs. According to Bankbazaar data, the interest rates on recurring deposits are 7.6 per cent.

DCB Bank (DCB Bank)

DCB Bank is paying 7.6 percent interest on 5-year RD. This rate will be available on RD of less than Rs 2 crore.

Suryoday Small Finance Bank

Suryoday Small Finance Bank is offering 7.25 percent interest on RDs of 5 to 10 years to its customers. Is giving interest at the rate of 7.5 percent to senior citizens.

Ujjivan Small Finance Bank

Investors can avail 7.2 per cent interest on RD for a period of 36 to 60 months. 6.5 percent interest is being received on FDs maturing in 63 to 120 months.

Deutsche Bank

The bank is offering 7.25 per cent interest on RD which will mature in 60 months.

IndusInd Bank

The bank is offering 7 per cent interest on recurring deposits of 61 months and above. Senior citizens are getting 50 basis points of additional interest i.e. 0.50 percent extra interest.

Axis Bank

Axis Bank is paying 7 percent interest on 5-year RD. 0.75% interest will be given to senior citizens on RD of more than Rs 5 crore.

HDFC bank

HDFC Bank is offering 7% interest on 5 year RD which will mature in 5 years. Will give 7.50 percent interest to senior citizens.

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SIP is such a tool that can make you a millionaire in the long run. If you invest for a long time, you can expect to earn huge returns through compounding. Experts believe that investment made for 20, 25, 30 years can give you a profit of up to 20 percent. That’s why the sooner you start investing, the more it will be beneficial.

Start with just Rs 1000

Keep in mind, investment has to be regular. But, for this, you can start with only 1000 rupees. It is very easy to convert this small fund into a large corpus. You can become a millionaire with a SIP of 1000 rupees. Let us know how a fund of 2 crores will be prepared from 1000 rupees? How to invest 1000 rupees every month. In the last few years, many mutual funds have given returns of up to 20% or more.

How many will meet in 20 years?

1000 rupees will have to be invested every month. By depositing this amount for 20 years, you deposit a total of Rs 2.4 lakh. In 20 years, your fund will increase to 15 lakh 16 thousand rupees at 15 percent annual return. If we talk about 20% annual return, then this fund will increase to Rs 31.61 lakh.

More than 2 crore rupees fund will be made on 30 years of investment

Now let’s assume that we invest Rs 1000 every month for 25 years and get an annual return of 20%, then on maturity a fund of Rs 86.27 lakh will be available. If this period is 30 years, then with a return of 20%, your fund of Rs 2 crore 33 lakh 60 thousand will be ready, as shown in the above calculation.

How do you get such a huge benefit?

Investors get the benefit of compounding on mutual funds. There is a facility to invest every month in this. This is the reason why you can create a big fund by investing a small amount. The interest on the returns earned makes it grow faster.

Disclaimer: Investing in Mutual Funds is subject to risk. Please consult your financial advisor before making any kind of investment.

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The post Best SIP: By investing only ₹ 1000 a month, you will get 2 crore 33 lakh rupees, use this trick first appeared on Rightsofemployees.com.