Post Office Saving Schemes: Know How Much to Invest

by Editor January 12, 2023

If you invest your money in the post office, then this investment never proves to be a loss deal. There are many such schemes of the post office.

If you invest in that, then you invest even less. Still can get a better return. If you are also planning to invest in post office schemes, then you can invest in post office Public Provident Fund (PPF) and get a whopping amount of Rs 1 crore on maturity. Let us know all the details of this scheme.

Will Have to Invest This Much

According to the information, the post office scheme is PPF, in which Rs 417 will have to be invested daily.

If you invest in this scheme, then tax is also saved in it. 7.1 percent interest is given in this scheme. Along with this, you can also extend it 2 times for 5-5 years.

Understand Arithmetic How to Become a Millionaire

If you want to make a fund of 1 crore, then you must first understand this. How much money you have to invest and for how long you have to invest money. You will have to deposit Rs.417 per day i.e. Rs.12500 per month.

If we talk about annual, then you have to deposit Rs 1.5 lakh for the whole year.

This is the amount. You will deposit Rs 22.5 lakh in 15 years. In this, you get interest at the rate of 7.1 percent, then the amount of interest becomes Rs 18.8 lakh. Wherein the total amount would be Rs 40.68 lakh.

After 15 Years You Can Extend It for Another 5 Years

If you want to become a millionaire through this scheme, then this scheme is for you. After 15 years, it will have to be extended for 5 years.

In this case, you will get Rs 37.5 lakh on an annual investment of Rs 1.5 lakh. And if interest is added at the rate of 7.1 percent, then you will get Rs 65.58 lakh, which means that if you invest in this scheme in 25 years, then you will get Rs 1.03 crore through this.