Can you also become a millionaire by investing money in NPS and PPF? Know the complete calculation here

PPF and NPS Investment Tips: It is the wish of every person that there should be no shortage of money in his old age. In such a situation, every investor wants that now invest in such schemes so that he can get maximum returns. Although you can get maximum returns by investing money in the stock market, but it involves a lot of market risk. In such a situation, even today a large number of people can get maximum returns by investing money in some great government schemes without any market risk. In such a situation, Public Provident Fund Account (PPF) is a great option for you. At the same time, National Pension Scheme (NPS) is also a good medium of investment, but it involves market risk. You can get maximum returns by investing in both these savings schemes.

Often the question of investors is whether you can become a millionaire by investing in PPF account and NPS account. Both of these are long term government schemes. How much return you can get from both these funds depends only on how much amount you have invested for how many years. Let us know the details of both the schemes and can you become a millionaire by investing in it-

Public Provident Fund
Public Provident Fund is a government scheme under which you can open your account in any bank or post office. Under this scheme, you get an interest rate of 7.1 percent. You can invest Rs 500 to Rs 1.5 lakh in a financial year under this scheme. The interest rate on this scheme is credited to the account at the end of every year. Under this scheme, you get an exemption of Rs 1.5 lakh under section 80C of Income Tax.

National Pension System
National Pension System is a Voluntary Retirement Scheme. Under this scheme, you have to invest a part of your monthly income in this scheme. After this, after completing 60 years of age, you get a hefty amount. This amount is useful in your old age. You have to invest in this scheme for at least 20 years. By investing in this scheme, you get the benefit of tax exemption under Section 80C and 80CCD of Income Tax.

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You can become a millionaire by investing in PPF and NPS in this way-
Public Provident Fund and National Pension Scheme are both schemes run by the central government. Under this scheme, if you invest Rs 1.5 lakh, you can become a millionaire after 25 years. It is worth noting that one can invest in this scheme for a maximum period of 15 years. According to the interest rate of 7.1 percent, you can deposit 40.6 lakh in the first 15 years. After this you will have to block this money twice in a period of 5-5 years. In such a situation, the total amount deposited in your account will be 1.03 crores.

On the other hand, the returns in the National Pension System depend according to the market. In such a situation, assuming 10% CAGR by investing Rs 1.5 lakh annually, you can get up to Rs 1 crore in a period of 20.5 lakhs. Along with this, let us tell you that no limit has been fixed for maximum investment in NPA scheme. If you invest Rs 2.86 lakhs every year, then you can make a hefty corpus of up to Rs 1.03 crores in just 15 years.

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