Unlock SBI Bank's High-Return Scheme: Earn ₹32,54,567 in Just 15 Years!
While investing, everyone has the same thing in mind that after investing they should get high returns and as long as their investment remains in the institution, their money should be safe. In today's time, investing has become very important for everyone because it can strengthen the future financially and along with that one can build his future.
A great savings scheme is being run by the Government of India and State Bank of India, in which after investing, the benefit of 7.1 percent annual compound interest is given. In this scheme, you have to invest for 15 years. Let's know all the details of this scheme in detail.
How to invest in SBI PPF scheme
PPF scheme is run by the Government of India and all the financial institutions of the country give the option of investing in it to the customers. Therefore, you can also invest your money in this savings scheme by going to State Bank of India. PPF scheme is a long term savings scheme and in this you can invest a minimum of 1000 rupees and a maximum of 1 lakh 50 thousand rupees annually.
The government has started this scheme only for the citizens of India, so any citizen of the country whose age is 18 years or more can invest in this scheme. To invest in SBI PPF, you have to go to the bank and there you have to open your account in this scheme.
Account opening process and necessary documents
Investing in SBI PPF is very easy and you can invest in this scheme by going to the bank or online. If you want to invest online, then it is necessary for you to have a savings account of SBI Bank because the amount of your investment is deposited from your savings account.
But if you want to invest by going to the bank, then it is not necessary that you should have an SBI bank account. You can open your account in this scheme in the bank on the basis of your Aadhar card, PAN card and your permanent residence certificate. After opening the account, you will have to invest annually in this scheme. You can also pay the amount of one year's investment in 12 installments.
How much return will you get by investing - see calculation
If you are investing in SBI Bank's PPF scheme, then you should also know well about the returns you get in it. You can invest 1000 rupees annually in it. Suppose you have started by investing 12000 per month and want to know how much return you will get on it, then for this we will calculate and tell you below.
If you deposit 12 thousand per month in this scheme, then your total investment in one year will be 1 lakh 20 thousand in this scheme. When you invest in it for the next 15 years at the rate of 12 thousand per month, then your total investment will be 18 lakhs. The bank gives you the benefit of 7.1 percent annual interest on this investment which is compounded.
If calculated at this interest rate, then after 15 years, you are given a total return of ₹ 32,54,567 by the bank. This return also includes your investment of 18 lakh rupees. Apart from the investment amount, this return includes ₹ 14,54,567 interest.