Wealth News Hubb
  • Home
  • Wealth News Hubb
    All news and Articles related to Wealth
  • Home
  • News
  • High Asset
  • Low Asset
  • Wealth Tax
  • Wealth Inequality
  • Wealth Calculator
  • Wealth Distribution
  • Wealth Definition
  • Contact Us
    • About Us
    • Privacy Policy
    • CCPA
    • DMCA
    • Terms of Use
Skip to content
Wealth News Hubb
All news and Articles related to Wealth
  • Wealth News Hubb
    All news and Articles related to Wealth
  • Home
  • News
  • High Asset
  • Low Asset
  • Wealth Tax
  • Wealth Inequality
  • Wealth Calculator
  • Wealth Distribution
  • Wealth Definition
  • Contact Us
    • About Us
    • Privacy Policy
    • CCPA
    • DMCA
    • Terms of Use
wealth calculator

How much you need to deposit per month to become a crorepati

July 17, 2021 by ericadminchia 0 Comments

[ad_1]

PPF calculator: Public Provident Fund (PPF) is one of the high yielding income tax saver option, which is 100 per cent risk-free. Currently, PPF interest rate is 7.1 per cent but it’s announced on quarterly basis by the Government of India (GoI). So, the PPF interest rate may change in future but for those who have low risk appetite, PPF is one of the most favoured assured guarantee return investment tool. According to tax and investment experts, if invested in a smart manner, one can become a crorepati by choosing monthly investment mode and availing the PPF account extension facility after the maturity period of 15 years.

PPF account deposit rules

Speaking on the PPF investment in monthly SIP format Amit Gupta, MD at SAG Infotech said, “As per the PPF account rules, one can do a maximum of 12 deposits in one’s PPF account. So, if an investor, who has low risk appetite and don’t have a huge lump sum amount for investment, he or she can choose the monthly investment mode like mutual funds monthly SIP style. But, the investor is advised to invest in one’s PPF account by 5th of every month so that the PPF account holder can get PPF interest of that month as well.”

PPF account extension rule

Advising investors with low risk appetite to take advantage of PPF account extension rule; Kartik Jhaveri, Director — Wealth Management at Transcend Consultants said, “PPF account has maturity period of 15 years, but one can extend one’s PPF account by submitting PPF extension form in the 15th years of account opening, choosing interest with investment option. One can extend one’s PPF account for infinite number of times but in teh block of 5 years. So, if someone wants to go long in PPF, they need to keep extending their PPF account in the maturity year.”

PPF calculator

Assuming an investor invests ₹9,000 per month by 5th of every month, the investor would be able to invest ₹1,08,000 per annum in one’s PPF account. Keeping average PPF interest rate at current 7.1 per cent, one can go on investing in one’s PPF account for around 30 years. If a PPF account holder invests ₹9,000 per month for 30 years assuming 7.1 per cent average annual PPF return, the PPF calculator says that one’s PPF maturity amount will be ₹1,11,24,656.

Source: Groww PPF calculator

View Full Image

Source: Groww PPF calculator

Out of this ₹1,11,24,656 or ₹1.11 crore PPF maturity amount, the net investment done by the investor throughout the investment period will be ₹32,40,000 or ₹32.40 lakh while the net PPF return earned by the PPF account holder in this period will be ₹78,84,656.

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint.
Download
our App Now!!

[ad_2]

Read More:How much you need to deposit per month to become a crorepati

Tags: crorepati, deposit, month, PPF, PPF account, PPF account interest rate, PPF calculator, PPF calculator SBI, PPF interest rate, PPF interest rate 2020-21, PPF interest rate 2021-22, PPF withdrawal rules, Public provident fund

Search Articles

Article Categories

Recent Articles

  • The Wealthy Now Have More Time to Avoid Estate Tax…
  • SIU revises distribution of funds recovered for re…
  • OPINION: The Fed, not millennials, responsible for…
  • In an Urgent New Book, “Floodies” Reinvent the Sto…
  • Trackimo and FocusPoint International Integrate Se…
  • Summary of the Biden Administration’s Fiscal Year …
  • Analysis | High Fossil Fuel Valuations Are a Polit…
  • Perspective | The heat wave could force Europeans …
  • Apple Inc. (NASDAQ:AAPL) Shares Sold by MorganRose…
  • ‘Unprecedented growth in house prices’…

High Asset

  • The Wealthy Now Have More Time to Avoid Estate Tax…
  • SIU revises distribution of funds recovered for re…
  • OPINION: The Fed, not millennials, responsible for…
  • In an Urgent New Book, “Floodies” Reinvent the Sto…
  • Trackimo and FocusPoint International Integrate Se…

News

  • The Wealthy Now Have More Time to Avoid Estate Tax…
  • Apple Inc. (NASDAQ:AAPL) Shares Sold by MorganRose…
  • Inheritance becoming an increasingly important wea…
  • Ex Standard Life Head of Region Joins Wealth Manag…
  • Wealth Guide: Why insurance needs to be included i…

Archives

  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022

Copyright © 2022 by Wealth News Hubb. All rights reserved.

All articles, images, product names, logos, and brands are property of their respective owners. All company, product and service names used in this website are for identification purposes only.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Terms of Use and Privacy Policy.