Not private, you can become millionaire through this govt scheme!
When you search on google about schemes to make a millionaire, 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.
government scheme of 12,500
If you want to become a millionaire through a government scheme, then Public Provident Fund (PPF) is a good option for you. Through this scheme, you can easily create a fund of 1 crore, by investing only 12,500 per month. Understand it like this, if you deposit Rs 12,500 every month in your PPF account, then in just 15 years the total investment will become 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 money received at the rate of 7.1 percent per annum.
Shift will have to be done 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 this account and the money deposited in it for investment twice for 5-5 years. By doing this, after 25 years your total investment will become 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 good for those people who want to see their child a millionaire when he turns 25. Apart from this, if you have just started a job and want to save a good amount of funds for your old age, then you can also take help of this scheme.