NPS Vatsalya or PPF… with which scheme will you become a millionaire soon? Know the complete calculation | News India – ..

NPS Vatsalya Plan: Recently a scheme has been launched by the central government, under which you can deposit money for your children. This scheme is NPS Vatsalya, under which National Pension System (NPS) account can be opened for children below 18 years of age. By investing in this scheme, a good amount of money will be deposited in the name of your children when they grow up. That is, this is a scheme related to the future of children.

You can withdraw the money when the child turns 18 years old

Under the NPS Vatsalya Yojana, any Indian citizen can start investing a minimum of Rs 1000 in the name of his child. Also, there is no maximum investment limit. When the child turns 18, you can withdraw the deposited amount. However, if you want, you can keep it with you for 60 years. So you can get a large amount at once.

When and how much money can be withdrawn from NPS Vatsalya?

In this scheme, the child’s account should be at least 3 years old. After the child turns 18, 25 percent of the amount can be withdrawn from this account for education and health treatment. After the age of 18, you can withdraw 20 percent of the deposited amount. You can deposit 80 percent of the amount annually, which will form your child’s pension. Which will start getting after 60 years.

What is Post Office PPF Scheme?

The Public Provident Fund (PPF) scheme is being run by the government through the post office, which comes under the small savings scheme. Any Indian citizen can open an account under this scheme. Most people invest in this scheme for children, as it is a long-term scheme, which matures after 15 years. However, you can extend it for 5 years twice. The annual return under this scheme is 7.1 percent.

Difference between PPF and NPS interest

• PPF gives interest at the rate of 7.1 percent per annum, which provides guaranteed income. Whereas NPS does not provide a fixed return. It can give an estimated 10 percent annual return, as it is a market-linked scheme.
• Under PPF scheme, you can open an account with just Rs 500, while in NPS Vatsalya, you can start investing from Rs 1000.
• PPF scheme is an investment option, while NPS is a voluntary pension scheme. In NPS Vatsalya, you can withdraw 20 percent of the amount on maturity. Annuity has to be purchased for the remaining pension.

Which plan will make you a millionaire quickly?

Out of 10 thousand, 11 crore rupees will be deposited in NPS Vatsalya.

According to a calculation, if you deposit Rs 10,000 annually under the NPS Vatsalya Yojana, then you will have to deposit this amount for 18 years. In 18 years, your total investment will become Rs 5 lakh. To which 10 percent return will be added annually.

• If you keep this amount with you for 60 years and add 10 percent annual return, then the total amount will be Rs 5,000. It will be 2.75 crores.
• Based on 11.59 per cent annual return, this amount will be Rs. 5.97 crore by the age of 60.
• Similarly, at the age of 60, the total amount of Rs 1,000 will be Rs 11.05 crore based on 12.86 percent annual return.

In how many years can one become a millionaire in PPF?

If you contribute Rs. 1.5 lakh and extend it for 10 years after maturity of 15 years i.e. total 25 years, you will get a total of Rs. 1,03,08,015.