Public Provident Fund: How to become a crorepati through simple investment?

livemint.com:

There are times when people overestimate the ability of basic guaranteed return programs to build a sizable retirement portfolio. By guaranteeing that you receive the promised interest and protecting your principal, these programs offer significant benefits. Retirement planning is made easier because you know exactly how much your investment will increase over time. The fact that plans like the Public Provident Fund (PPF) require little intervention is one of their biggest benefits. You plant it and let it grow.

Consistency is the key to growth and this certainly rings true for guaranteed return schemes too. Assuming that one starts investing at the age of 30, unbridled and regular investments of ₹1,50,000 every year can amount to more than a crore worth of retirement corpus by the age of 60. While this may seem unreal, the magic of compounding ensures that money grows over money, which means that you earn interest over your investment first post which you earn interest on your interest income too. 

For those unfamiliar, persistent investing in guaranteed return schemes can be a strong instrument for accumulating retirement wealth. The power of compounding should not be underestimated. Compound interest is equivalent to reinvesting your returns which allows you to earn interest on your interest in the long run. This boosts the growth of your money over time. The focus is on the term “long", which suggests that you must be ready to wait and lend the required time to your money to watch it grow.

You can invest with PPF for as little as ₹500 and as much as ₹1.50 lakh annually. The plan matures after 15 years, excluding the fiscal year of account opening, with an annual interest rate of 7.1%. When compared to investments