look news india
New Delhi. Are you also dreaming of becoming a millionaire? If yes, then this information may be useful for you.
We are not saying that you will become a millionaire in a few days or months. To become a millionaire you will have to dedicate a few years of your time.
Actually, you can become a millionaire by investing in the government's popular Public Provident Fund Scheme. For this you will have to save only Rs 416 every day for a few years.
How to get big benefit in PPF?
If you save Rs 416 every day, you will save Rs 12,500 in a month and Rs 1,50,000 in a year. You will have to invest this money in PPF.
If you make this investment for 15 years, then by investing Rs 22,50,000 you will be able to earn Rs 18,18,209 as interest. After this, after 15 years your money will become Rs 40,68,209.
However, if you want to become a millionaire then the maturity period of this scheme will have to be extended twice. In this way, you will have to invest in the scheme for a total of 25 years.
In 25 years your investment money will become Rs 37,50,000. At the same time, Rs 65,58,015 will be in your pocket as interest. On maturity this amount will be total Rs 1,03,08,015.
How to extend maturity period
However, if you are thinking of making money this way, there is one important thing to keep in mind. The PPF scheme comes with a maturity period of 15 years.
To extend the maturity period, you will have to apply one year in advance. This time period cannot be extended after maturity.
