PPF calculator helps the investors to calculate interest and returns. There are many PPF calculators available online where one can easily calculate their PPF.
What is a PPF Calculator?
PPF calculator is the online tool that helps you to do complicated calculations with ease online. With this tool, you can calculate the yearly interest rates of the contributing account. This PPF calculator is versatile and separate bank wise calculators are unnecessary like SBI PPF Calculator, PNB PPF Calculator, India Post PPF Calculator, etc. Because the government decides the interest rates, maturity, taxation, and withdrawal rules, this remains irrespective of the PPF account opened.
PPF Interest Rate in All Banks 2020
| PPF Account | Details |
|---|---|
| Current PPF interest rate | 7.10% w.e.f. 1st October, 2020 |
| Lock in period | 15 years |
| Minimum Account | ₹ 500 |
| Tax on PPF interest | Nil, tax exempted |
| Note: Ministry of Finance, Government of India from April 1st, 2016 fixed the interest payable on PPF. | |
| Note: Current PPF interest rates offered by SBI, ICICI & all banks are 7.10% applicable from 1st of Oct.2020. |
The below-mentioned table below describes the closing balance, maximum loan amount and withdrawal amount. The subscriber can avail of a loan against PPF till the competition of 5 years at the end of the financial year when the amount was opened. After that, the amount will be opened but the subscriber can withdraw only up to 50% of the closing balance at the end of the 4th year.
| Year | Opening Balance | Amount Deposited | Interest Earned | Closing Balance | Loan (Max.) * | Withdrawal (Max.) ** |
|---|---|---|---|---|---|---|
| 1 | ₹0 | ₹10,000 | ₹710 | ₹10,710 | ₹0 | ₹0 |
| 2 | ₹10,710 | ₹10,000 | ₹1,470 | ₹22,180 | ₹0 | ₹0 |
| 3 | ₹22,180 | ₹10,000 | ₹2,285 | ₹34,465 | ₹2,678 | ₹0 |
| 4 | ₹34,465 | ₹10,000 | ₹3,157 | ₹47,622 | ₹5,545 | ₹0 |
| 5 | ₹47,622 | ₹10,000 | ₹4,091 | ₹61,713 | ₹8,616 | ₹0 |
| 6 | ₹61,713 | ₹10,000 | ₹5,092 | ₹76,805 | ₹11,906 | ₹0 |
| 7 | ₹76,805 | ₹10,000 | ₹6,163 | ₹92,968 | ₹0 | ₹17,233 |
| 8 | ₹92,968 | ₹10,000 | ₹7,311 | ₹110,279 | ₹0 | ₹23,811 |
| 9 | ₹110,279 | ₹10,000 | ₹8,540 | ₹128,819 | ₹0 | ₹30,857 |
| 10 | ₹128,819 | ₹10,000 | ₹9,856 | ₹148,675 | ₹0 | ₹38,403 |
| 11 | ₹148,675 | ₹10,000 | ₹11,266 | ₹169,941 | ₹0 | ₹46,484 |
| 12 | ₹169,941 | ₹10,000 | ₹12,776 | ₹192,717 | ₹0 | ₹55,140 |
| 13 | ₹192,717 | ₹10,000 | ₹14,393 | ₹217,110 | ₹0 | ₹64,410 |
| 14 | ₹217,110 | ₹10,000 | ₹16,125 | ₹243,235 | ₹0 | ₹74,338 |
| 15 | ₹243,235 | ₹10,000 | ₹17,980 | ₹271,215 | ₹0 | ₹84,971 |
Have a look at the PPF Interest Rate of November 2020 is 7.10% in the table below:
| Period | PPF Interest Rates | Rate Difference |
|---|---|---|
| 1st October 2020 onwards | 7.10% | Nil |
| 1st July 2020 - 30th September, 2020 | 7.10% | Nil |
| 1st April 2020 - 30th June, 2020 | 7.10% | -0.8% |
| 1st January 2020 – 31st March, 2020 | 7.90% | Nil |
| 1st October 2019 – 31st December, 2019 | 7.90% | Nil |
| 1st July 2019 - 30th September, 2019 | 7.90% | -0.1% |
| 1st April 2019 - 30th June, 2019 | 8.00% | Nil |
| 1st January 2019 – 31st March, 2019 | 8.00% | Nil |
| 1st October 2018 – 31st December, 2018 | 8.00% | 0.4% |
| 1st July 2018 - 30th September, 2018 | 7.60% | Nil |
| 1st April 2018 - 30th June, 2018 | 7.60% | Nil |
| 1st January 2018 – 31st March, 2018 | 7.60% | -0.2% |
| 1st October 2017 - 26th December 2017 | 7.80% | Nil |
| 1st July 2017 - 30th September 2017 | 7.80% | -0.1% |
| 1st April 2017 - 30th June 2017 | 7.90% | -0.1% |
| 1st January 2017 – 31st March 2017 | 8.00% | Nil |
| 1st October 2016 – 31st December 2016 | 8.00% | -0.1% |
| 1st July 2016 - 30th September 2016 | 8.10% | Nil |
| 1st April 2016 - 30th June 2016 | 8.10% | -0.6% |
| 1st April 2015 – 31st Mar 2016 | 8.70% | Nil |
| 1st April 2014 – 31st Mar 2015 | 8.70% | Nil |
| 1st Apr 2013 – 31st Mar 2014 | 8.70% | -0.1% |
| 1st Apr 2012 – 31st Mar 2013 | 8.80% | 0.2% |
| 1st Dec 2011 – 31st Dec 2012 | 8.60% | 0.6% |
| 1st Mar 2003 - 30th Nov 2011 | 8.00% | -1% |
| 1st Mar 2002 - 28th Feb 2003 | 9.00% | -0.5% |
| 1st Mar 2001 - 28th Feb 2002 | 9.50% | -1.5% |
| 15th Jan 2000 - 28th Feb 2001 | 11.00% | -1% |
| 1st Apr 1986 - 14th Jan 2000 | 12.00% | - |
How to use PPF Calculator?
Provide the following Data to Use the PPF Calculator-
- Tenure of the PPF account – Min. 15 years to max 50 years also with the option of extension in blocks of 5 years.
- Deposit/Payment Frequency – Chose as monthly, quarterly, half-yearly, annually. In the case of quarterly deposits made every quarter, half-yearly deposits mean twice each year, and so on.
- Deposit Amount – Enter the amount that is to be deposited in the account as per the deposit frequency, the total will be automatically calculated by the calculator.
- Interest Rate – Check the latest PPF interest rates online and enter them in the calculator. After providing all these details click "Calculate" and you will get all the information related to PPF like PPF maturity amount, PPF Interest earned, total PPF investment, etc.
PPF Calculation Formula & Basic Rules:
The compound interest calculation is used in the PPF calculation formula, and this calculation occurs annually. PPF Calculation Formula: A = P(1+r) ^t
Where: A= PPF Maturity Amount, P=PPF Principal amount invested, R= PPF rate of interest, T=Time period A= PPF Maturity Amount, P=PPF Principal amount invested, R= PPF rate of interest, T=Time period
Point to be noted while calculating the PPF by using the formula -
- Max. the amount can invest in a year is Rs. 1.5 lakh annually
- Min. amount can invest in PPF account is Rs. 500 annually
- There will be a Compounding of interest every year at the end of the financial year.
- The maturity of the PPF account is in 15 years and the proceeds are completely tax-free
- As per the Finance minister, the PPF rate is liable to change every quarter.
Tax Benefit of PPF Investments:
- PPF offers tax benefits up to the limit of Rs 1.5 lakhs annually.
- The tax deduction is subjected to the act of 80C.
- The tax benefit is applicable both on the invested amount and on the maturity returns.
Loan against PPF:
- The loan is eligible from the 3rd year calculated from the account opening date till the end of the 6th year of the PPF account.
- The loan that is availed is linked to the total PPF deposit with the interest.
PPF Withdrawal Rules:
- PPF account matures after 15 years and the amount will be calculated from the date of account opening.
- Usually one can withdraw a partial amount after the 6th year.