A fund of 8 lakhs will be made from Rs 58 like this, LIC's great scheme; Know what is the formula!

LIC: When we start earning, then we look for different options for investment. Many people earn but still their bank balance always remains low. To increase money, it is best to invest in a good scheme. Many schemes are run by the government for different investments. There is no risk of money in this and a huge amount is also collected on maturity.

Today we are going to tell you about such a plan. In which you can make good savings by depositing small amounts. This scheme is of LIC. LIC keeps taking out policies from time to time for people of different ages to women. By investing in which people can deposit a substantial amount after a few years. Let us tell you about this plan.

LIC Aadhar Shila Policy

Life Insurance Corporation of India (LIC) has schemes for every age of the society. LIC Aadhaar Shila Policy is a good scheme for people with average income. Its minimum amount is Rs 75000 and maximum is Rs 3 lakh. You can deposit small amount everyday to invest in LIC Aadhaar Shila Yojana. It is a long term investment like most LIC policies. It also gives death cover to the person. If a person invests Rs 58 every day, he will get lakhs of rupees on maturity. The policy amount on death is seven times the annualized premium and 110% of the Basic Sum Assured. The minimum age to avail this scheme is 8 years and the maximum is 55 years. The time limit of the policy is 10 to 20 years.

In this way you will get 8 lakh rupees on maturity

Suppose, at the age of 30, you deposited Rs 58 every day for 20 consecutive years in this scheme, then a total of Rs 21918 will be deposited in your first year. On which you also have to pay tax at the rate of 4.5 percent. Then in the second year you will have to pay Rs 21446. In this way, you will deposit this premium on monthly, quarterly, half yearly or yearly basis. You will deposit Rs 429392 for 20 years on paying every year's premium. After this, at the time of maturity, you will get a total of Rs 794000.