By Anshul Jul 13, 2021 3:17:20 PM IST (Updated)
According to Archit Gupta, founder and CEO at Clear, investing in small saving schemes such as PPF at the maximum permissible limit when an individual starts working can help him/her in becoming a crorepati at retirement.
Small saving schemes, which offer a higher interest rate than bank fixed deposits, can make investors crorepati over the long run as they have an upper limit on the maximum investment, experts say.
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For example, Public Provident Fund (PPF) has a maximum contribution limit of Rs 1.5 lakh per financial year. Moreover, small savings schemes have a sovereign guarantee for safety and also tax benefits.
These benefits can help investors in earning enough over a certain span of time.