You can become a millionaire with the help of PPF, follow this trick too

Millions of rupees are not enough for the future in view of rising inflation today. The biggest example of this has been seen by people during the Corona crisis. You have to create a fund of Rs 1 to 1.5 crore for the future. But creating a fund of Rs 1.5 crore is not a small thing but it is possible. You can become a millionaire in a few years if you invest with planning.

Options like stock market are available for investment, which can double your money in a few days or weeks, but it carries more risk. To become a millionaire, you need to think about investments that offer guaranteed and lasting benefits. At the same time, the probability of damage is zero. One such option is the Public Provident Fund. Anyone can invest in PPF anytime and anywhere.

Everyone uses their savings differently. Many people also choose to invest through PPF, as there is no risk involved. If you also want to invest through PPF, you also have the opportunity to become a millionaire. You will have to keep investing for some years to get Rs 1 crore as return. At the same time keep in mind that your premium will also increase.

PPF has low interest rates but people choose it because it is not a risk factor. If you start the policy at an early age to get a return of Rs 1 crore, you will get Rs 1 crore at the right time. Last year, the PPF interest rate was slashed from 7.9 per cent to 7.1 per cent. Which may rise again in the near future. There is a limit to investing in PPF. Which is why you can't invest more than Rs 1.5 lakh in a year. This means you have to deposit Rs 1.5 lakh per year for 25 years. If you look at the current rate, you will get Rs 1 crore 3 lakh after 25 years.

This is how PPF works
PPF i.e. Public Provident Fund is one of the small savings schemes. It is safe to invest in and tax deductible. You can invest in PPF on a monthly, quarterly or annual basis. If the investor deposits the rupee before the 5th of every month, there will be no more benefit. Interest is assessed on a minimum balance from the 5th to the end of the month. Even if you deposit money once a year, it will be beneficial to do this work before the 5th date

The Public Provident Fund falls under the EEE category. That is, both investment and interest income are tax free. The investment will also have the benefit of deduction under Section 80C of the Income Tax Act. PPF account can be opened in any post office or public or private bank. Contributors can invest only once a year if they wish or they also get the option to invest in a maximum of 12 installments.