When you search on Google about millionaire making schemes, you are given information about many such schemes. However, most of these schemes are of private companies. This is the reason why investors are not able to trust these schemes. But, the scheme we are talking about today is completely a government scheme. The biggest thing is that in this scheme you can become a millionaire in a few years by investing very little money. Let us now tell you about this scheme in detail.
12,500 government scheme
If you want to become a millionaire through any government scheme, then Public Provident Fund (PPF) is a good option for you. Through this scheme, you can easily create a fund of Rs 1 crore by investing only Rs 12,500 per month. Understand it this way, if you deposit Rs 12,500 every month in your PPF account, then in just 15 years the total investment will be Rs 40 lakh 68 thousand. In this, Rs 22.50 lakh will be your principal amount and Rs 18.18 lakh will be the interest amount received at the annual interest rate of 7.1 percent.
Shift will have to happen in 15 to 25 years
Now if you want to become a millionaire through this scheme, then after 15 years you will have to extend your same account and the money deposited in it for investment twice more for 5 years each. By doing this, after 25 years your total investment will be Rs 37.50 lakh and the interest you will get on it will be Rs 65.58 lakh. In this way, after 25 years you will get a fund of more than Rs 1 crore.
This scheme is suitable for those who want to see their child a millionaire by the time he turns 25. Apart from this, if you have just started a job and want to accumulate a good fund for old age, you can also take the help of this scheme.
Disclaimer: (The information provided here is being given for information only. It is important to mention here that investing in the market is subject to market risks. Always seek expert advice before investing money as an investor. ABPLive.com It is never advisable for anyone to invest money here.)
