New Delhi:
Rising inflation is giving birth to all kind of problems, specially the tension about the future of the children. If you also want to shape the future of your children, then you also have to invest in the right place at the right time. With the help of PPF i.e. Public Provident Fund, you can get a huge amount.
Every parent wants their children to have a happy future. Parents want their children to get good education and there should be no problem in marriage. That’s why all parents focus on saving from the very beginning. To take care of the future of their children, they invest money in banks and post offices in schemes that give good returns. Everyone wants to invest for long term with small amount.
Today we are telling you about one such plan. With the help of PPF i.e. Public Provident Fund, you can get a huge amount. For this, you have to open a PPF account in the name of children between the age of 3 to 5 years and deposit a fixed amount every month. At the age of 15, Rs 32 lakh will come in his account.
How much money will have to be deposited every month
After opening an account in the name of the child in the Public Provident Fund, Rs 10,000 will have to be deposited every month. When your child becomes an adult i.e. 18 years old, then Rs 32,16,000 will be deposited in his account. In this way, by depositing a fixed amount every month, you will get a huge amount in one go. With this amount, you will not face any kind of problem in your child’s education or marriage.
These documents will be necessary
-You can give your valid Passport, Driving License., Voter ID, PAN card, Aadhar, Ration card details as proof of address to open the account.
-As Identity proof you can give PAN Card, Aadhar, Voter ID, Passport, Driving License.
-If you are opening a PPF account in the name of a minor child, then for this you will have to give his birth certificate.
-One passport size photo.
-At the time of opening the account, you will have to pay a check of at least Rs 500 or more.
On completion of the paperwork, the PPF passbook will be issued in the name of the child.
This is how you will get 32 lakhs
If you open a PPF account in the name of a 3 year old child and deposit Rs 10,000 every month.
When will this PPF account mature?
If you deposit Rs 10,000 every month, after 15 years, when will you get the returns with 7.10 per cent interest on it. On maturity of the child i.e. at the age of 18, you will get Rs 32,16,241.
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