Public Provident Fund (PPF) Calculator
Public Provident Fund (PPF), is a popular long term investment scheme offered by Government of India. It is one of the safe investment scheme with attractive interest rate and returns that are fully exempted from Tax.
|Maturity (after 15years)||0|
Split up of Interest and Investment made:
|Years||Opening Balance||Deposit amount||Interest Earned||Closing balance|
Features of PPF
- Interest Rate: PPF interest rate was around 7.5% to 8% historically. As compared the Fixed deposits (FD) in many banks, PPF provides higher benefits to the investors.
- Tenure: PPF investments longs for 15 years. The investors can withdraw after 15 years with Tax exemption or continue the PPF account for another block of 5 years, either with contribution or no contribution.
- Tax Saving: PPF allows to get Tax exemption of upto 1.5Lakhs under 80C within the Financial year. Also, PPF follows EEE (Exempt-Exempt-Exempt) model that the interest earned and the maturity both are exempted from Tax liability.
- Loan: Loan can be obtained against the PPF contribution you already made at agreeable interest rate. This can be availed between 3rd to 6th year of your PPF account opening.
- withdrawal: PPF comes with the lock-in period of 15 years. However, one can make partial withdrawal from the 7th financial year.
- Investment: The minimum and maximum contribution to the PPF account within a Financial year is between Rs.500 to Rs.1,50,000. You can invest this either lumpsum or via 12 installments.
- Nomination: Nomination facility available in PPF account as like other FDs. This can be done either at the time of account opening or later.
- Individual: PPF account can be opened by resident Indian individuals and individuals on behalf of minors.
Where to open PPF account?
A PPF account can be opened with either a Post Office or with any nationalized bank. Please check with your Bank branch whether they have the facility to provide PPF account.
- State Bank of India
- ICICI Bank
- Bank of Baroda
- Central Bank of India
- Bank of India
- Union Bank of India
- Allahabad Bank
- Bank of Maharashtra
- Canara Bank
- Indian Overseas Bank
- Punjab National Bank
- United Bank of India
- Axis Bank
- Corporation Bank
- Indian Bank
What is the interest rate on PPF?
The current interest rate of PPF is 7.1% p.a. (for the quarter 1-April-2020 to 3-June-2020). At present, PPF interest rates are revised on every quarter.Also, read here about the PPF (Public Provident Fund) interest rate history over the past 50+ years.
Note: In this calculator interest rate for PPF is assumed and rounded to 8%. Please check with Govt. circulars for the upto date interest rate of PPF.