PPF Tips: You can become a millionaire through a PPF account too, know here...

PPF Scheme: The Public Provident Fund (PPF) is a medium of investment. Through this people can invest, save, and also save income tax. At the same time, people also get a fixed interest through a PPF account and there are many conditions for this account. However, people can also become millionaires through a PPF account. For this, people will also have to keep some mathematics in mind. Let us know about it...

PPF Scheme-
Interest is earned on the PPF scheme and currently, interest is being given on this scheme at the rate of 7.1 percent. Along with this, the maturity period in this account is 15 years. If people want, they can withdraw the maturity amount after 15 years or can extend their PPF account for 5 years.

PPF
At the same time, people can deposit a maximum of only Rs 1.5 lakh in a PPF account in a financial year. Apart from this, a minimum investment of Rs 500 can be made. In such a situation, if the regular investment is made in the PPF account then one can become a millionaire from the PPF account. If you are aiming to become a millionaire through a PPF account, then you should keep in mind that you cannot invest more than Rs 1.5 lakh in this scheme in a financial year. However, the tenure can be extended.

A fund worth crores-
In such a situation, if a person invests Rs 1.5 lakh continuously for 25 years at 7.1 percent interest, then Rs 37.5 lakh will be deposited in it through the account holder for 25 years. Interest of Rs 65,58,015 will be earned on this money. When these two amounts are added, Rs 1,03,08,015 will be received on maturity in 25 years. In such a situation, a PPF account can also make you rich.

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