PPF, Post Office FD, SSY, Post Office RD: What will be maturity amount on Rs 60,000 yearly investments?

Post Office Public Provident Fund (PPF)

A Post Office Public Provident Fund (PPF) is one of the effective fixed return investment schemes offered by the government. It comes with a 15 year lock-in period and an interest rate of 7.1 per cent per annum. 

Minimum deposit amount in post office PPF

The minimum deposit amount is Rs 500 and the maximum deposit amount is Rs 1,50,000 in a financial year. 

Withdrawal conditions

A subscriber can take 1 withdrawal during a financial year after five years excluding the year of account opening. The amount of withdrawal can be taken up to 50% of the balance at the credit at the end of the 4th preceding year or the end of the preceding year, whichever is lower.

Maturity amount of Rs 60000 yearly investment in PPF in 15 years at 7.1 per cent interest rate

The estimated maturity amount will be Rs 16,27,284. During this time, the amount invested will be Rs 9,00,000, and the total interest will be Rs 7,27,284. 

Post Office FD

Post Office Fixed Deposits (FDs) provide a secure investment option with varying interest rates for tenures of 1, 2, 3, and 5 years. With attractive returns and tax benefits, Post Office FDs offer a compelling choice for those seeking guaranteed returns.

Maturity amount of Rs 60000 yearly investment in post office FD in 5 years at 7.5 per cent interest rate

The estimated maturity amount will be Rs 4,34,984. During this time, the amount invested will be Rs 3,00,000, and estimated returns will be Rs 1,34,984. 

Sukanya Samriddhi Yojana (SSY)

The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme designed to encourage parents to save for their daughter's future education and marriage. 

Deposits

An account can be opened with a minimum deposit of Rs 250 and a maximum deposit can be made up to Rs 1.50 lakh. The deposit can be made a maximum of up to completion of 15 years from the date of opening. 

Withdrawal conditions

Withdrawal may be taken from an account after the girl child attains the age of 18 or passes the 10th standard.
Withdrawal may be taken up to 50% of the balance available at the end of the preceding financial year. 
Withdrawal may be made in one lump sum or in installments, not exceeding one per year, for a maximum of five years. 

Sukanya Samriddhi Yojana: Calculations

Here, we will consider 2 investment options. The first one is a yearly investment and the second one is a monthly investment. The amount we are considering monthly is Rs 5,000 and yearly investment of Rs 60,000. The rate of interest is 8.2 per cent per annum for 15 years. 

Sukanya Samriddhi Yojana: Maturity amount on Rs 5,000 monthly investment for 15 years

Deposit amount: Rs 5000
Duration: 15 years
Maturity period: 21 years (Or at the time of marriage of girl child after attaining age of 18years)
Maturity amount: Rs 27,73,059

 

Sukanya Samriddhi Yojana: Maturity amount on Rs 60,000 yearly investment for 15 years

Deposit amount: Rs 60000
Duration: 15 years
Maturity period: 21 years (Or at the time of marriage of girl child after attaining age of 18years)
Maturity amount: Rs 28,72,848

What is post office recurring deposit (RD)?

RD is a type of small savings account where individuals deposit a fixed amount of money each month for a set period. These are recurring deposits at post offices and banks that people open for a particular tenure. 

Maturity period of post office RD

The maturity period of the post office RD is 5 years. The account can be extended for 5 years.

RD (Recurring Deposit): Returns on a Rs 60,000 yearly investment?

Time period: 5 years
Total Invested Amount: Rs 15,00,000
Interest Rate: 6.7% per annum (this is the interest rate of post office RD)
Estimated Returns: Rs 5,68,291
Total Value at Maturity: Rs 35,68,291