How Public Provident Fund Can Make You Rich In 2022?
Investment is one of the way through which people creating their own world of happiness. They invest few amount of money for better feature. Investment are of different kind one can directly invest their money on share market , real estate, gold and more.
But most of the people do not know proper way of investing money and they ful their money can be misuse. This is the reason why most people do not want to invest.
Investment plan can be different for different people if. I say that you can make you future better with just few amount of investment how you will you react?
Yes it is possible that we can earn money from investment without any risk. In this article we are going to share the way how we can invest money in PPF plan in 2022.
What is PPF investment?
Before entering into the process to invest money in PPF we should have to know about what actually it is?
PPF stand for public Provident fund. It is one of the safest way of investing money for long period in 2022.
If you are looking for the risk free investment plan you should definitely look for PPF. It is a long term investment plan you can invest with small amount of money.
How PPF work?
PPF have a long term investment of 15 years which gives you interest rate of 7% and 10 % higher than normal fixed deposit plan currently in India PPF has interest rate of 7.5 % it is floating rate it may be higher some year and may be lower next year best in recent few year it has given minimum 6% return to their investor.
PPF works on the principal of compound interest. The interest you earned for your investment in a year is directly compounds annually. Every year your interest role is directly compounded over 15 year and when you investment period over you will get your all earning.
How much money should we invest in PPF every year?
A you know how PPF work the second question is how much money should be required to invest in PPF. The amount of money you need to invest it starting from 500 Rupees minimum to 1.5 Lakh maximum year. This whole process come under the income tax act section 80C.PPF investment is tax free you don’t need to pay tax of your earning.
How we can start PPF in 2022?
The most important things you need to know before investing in PPF in where you can start investing. PPF is a public Provident fund plan so you can start investing in public office like post office.
To start investing in PPF first of all you need to open a account in nearly post office.
To open account in post office you need some document are as follow:
* You need your id proof like electoral photo and identity card.
* You also need to have recent bank account statement.
* Have proper address according to the address mentioned in your bank account.
* Need to have a passport size photo.
By submitting all the document your account will be opened at post office before starting PPF you should have to properly research about the plan term and policy of the PPF because finance is highly risk task so have proper. Knowledge before investing your money