Invest in SBI's PPF scheme to earn a large sum by depositing a small amount. By investing Rs.2500 every month in this scheme, you can earn an income of Rs.8 lakhs.
Interest rates in SBI's PPF Scheme are revised periodically, providing customers with returns at new rates. State Bank of India currently offers a 7.1% annual interest rate on its PPF scheme for 2024-2025.
If you wish to invest in this scheme of State Bank of India, you can invest online or offline. You can open your account by visiting your nearest State Bank of India branch offline.
To invest online, you can use State Bank of India's internet banking or mobile banking facility. To invest in the PPF scheme online, you must have a savings account with State Bank of India.
If you invest Rs 2500 every month in this scheme, you will get Rs 8,13,642 from the bank at maturity. If you invest Rs 2500 every month, the annual investment is Rs 30000. If this investment is continued for 15 years, the total deposit amount is Rs 4,50,000.
You will get the benefit of a strong interest rate in SBI's Public Provident Fund (PPF) scheme. The income earned through interest in the maturity amount received in this scheme is Rs 3,63,642. This will also be a profit along with the invested money.
If you are 18 years old, you can invest in the State Bank PPF scheme. You can also invest in this scheme in the name of children aged 10 or above. They will be given the benefit of the savings account interest rate till they turn 18. Upon turning 18, they will get the benefit of PPF scheme interest rates.
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