Get Rs 1 crore on THIS Post Office PPF 2022 scheme by just investing Rs 417 per day: Check return calculator, interest rate, withdrawal rules & other key details

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New Delhi: The Post Office is one of the most popular solutions for the salaried middle class in India looking for risk-free investments with high returns. The stock market also provides many prospects for profit, but the Post Office Public Provident Fund (Post Office PPF) Scheme is a better choice if you want to invest in a place where your money is secure and your returns are high. You can still profit greatly from this plan even if you simply invest a little amount of money.

This plan offers both protection and savings. Given its high rate of return, the post office PPF account is one of the greatest possibilities for investors to consider. The scheme assures investors of fixed returns at the rate at which their money was initially invested. This means that investors do not need to be concerned about fluctuating interest rates, even if they are reduced at a later time. ()

Interested investors who want to register for this account should be aware that only one person can open the account. Following that, no joint account can be opened under the scheme. Parents or legal guardians can open an account on behalf of the minors. ()

As per the Post Office norms, NRIs can't take benefit of the scheme. If an Indian becomes NRI before maturity, he/ she can avail of the benefits. In this instance, you would be given a guarantee worth Rs 1 crore. The return under the programme is actually Rs 1 crore. In the previous illustration, if you saved 417 rupees every day in the bank for 25 years, you could get a total return of up to one crore rupees.

Although the maturity period of this programme is 15 years, you have the chance to extend it twice for 5-5 years. Along with this, you also get tax benefits. The interest rate offered here is 7.1 percent annually. The interest in this instance compounds annually. 

Return calculator

If you invest Rs 12,500 per month means Rs 417 per day for 15 years i.e. till maturity your total investment will become Rs 22.50 lakhs. Also as per the norms, you will get the benefit of compounding with an annual interest of 7.1 percent. Following that, you will get Rs 18.18 lakh as interest. Combining both, you have a total of Rs 40.68 lakh.

If you choose to extend your investment for 5-5 years twice after the pre-defined, you'll get Rs 1.03 crores. In this case, your investment amount will reach Rs 37.50 lakh. Your interest becomes Rs 65.58 lakh. The total fund you are getting to be in hand will be Rs 1.03 crores.

Disclaimer: This article is for information purposes. The calculator is also mostly based on assumptive figures to give an example of a certain type. The article does not intend to give any financial advice of any sort. Investors/subscribers must check with their portfolio managers before investing in any scheme/policies.