Indeed, the Indian market has various investment options generally considered very high income generators and at the same time secured. However, it is really difficult for everyone to decide which investment option is exactly right for them. And we tell you guys today about that proper investment option, where you can invest and actually have good returns. The State Bank runs the Public Provident Fund (PPF) scheme specifically for its investors.
SBI PPF Scheme
The scheme by the State Bank is currently the best for investment. It is a long-term scheme, which means you would have to deposit money in it for at least 15 years. The most interesting thing about this plan is that the interest on it is decided by the government and at present investing in the SBI PPF scheme gives a yield of 7.1% interest on an annual basis.
Start investing like this
Full guarantee of money being safe is given in schemes run by State Bank of India. So, if one wants to invest through it, one can simply open an account with Rs.500 every month and maximum of Rs.1.5 lakh in one financial year to invest. This scheme is particularly meant for long-term investors.
You will get this much return on a deposit of ₹ 3000
Investing in SBI’s PPF scheme gives a higher interest rate than any bank’s FD or RD scheme. The special thing is that the Public Provident Fund Scheme provides compound interest at the rate of 7.1%, which makes it different from other investment options.
If you invest Rs 3000 every month, then 36,000 rupees are deposited in a year. Similarly, if you invest continuously for 15 years, then it becomes 5,40,000 rupees. If you add with the help of SBI PPF calculator, then on maturity you will get a total return of ₹ 9,76,370.
Can you open an account online?
If you like this return, then the more amount you invest every month, the higher the return you will get. If you also want to invest in this great PPF scheme, then for this you have to go to any nearest SBI branch and fill the application form to open an account.
Apart from this, if you want to apply online, then you can apply from home with the help of SBI YONO app. The documents required to open an account include identity card, address proof, and passport size photo.
