PPF Calculator Online
PPF Calculator Online Tool helps you to calculate PPF returns for next the 30 years. If you are planning to invest in PPF scheme and want to know how much money you will save and grow in PPF account, then this PPF Calculator tool will help you to find the PPF maturity amount. With this PPF Calculator, you can calculate PPF return by yearly or monthly investment. This tool will calculate return with current PPF interest rates and show you result in chart and table listing with yearly closing balance.
Calculate PPF Retruns
The Current PPF Interest rate: 8.1%
Annual Deposit: 0
PPF Tenure (years): 15
What is Public Provident Fund (PPF)?
The Public Provident Fund (PPF) Account is a savings cum tax-savings Avenue introduced by Ministry of Finance, Government of India in 1968. PPF is one of the most popular tax savings instrument offered by Government of India, whose major motive is to mobilize small savings by offering Indian Citizens an investment option which gives reasonable returns coupled with Income Tax Benefits. The big highlight of PPF Scheme is the fact that deposits made in the PPF Account are not taxable. Deposits made under PPF Account can be claimed as tax deductions. That is why PPF Scheme has the status of being one of the most tax-efficient instruments in India. It helps to encourage savings among Indians and is a great instrument for building a retirement corpus. The present Public Provident Fund Interest Rate stands at 8.1% per annum (compounded annually) that is the PPF Interest Rate 2016-17 is 8.1% per annum (compounded annually). Tax bracket for PPF Account is EEE (i.e. Exempt, Exempt, and Exempt). Contributions are tax exempted under Section 80C. Plus, interest earned and the final amount is fully exempted from wealth tax, as well.
Who Can Open PPF Account
Any resident Indian Individual can open an account under the Public Provident Scheme. Individuals on behalf of minors can also open a PPF Account. PPF Account can be opened with any nationalized bank including SBI, PNB, Central Bank of India, etc. It can also be opened with a post office and even with an authorized private sector bank such as ICICI, HDFC Bank, and Axis Bank. An individual is allowed to maintain only one Public Provident Fund (PPF) Account, except a PPF Account that is opened on behalf of a minor. Grand Parents are not allowed to open a PPF Account on behalf of their minor grandchild.
Documents required for opening a PPF Account include:
- PPF Account Opening Form
- ID Proof
- Residence Proof
- Passport Size Photograph
- Copy of PAN Card/Form 60-61
- Nomination Form
If a customer doesn’t deposit the minimum amount of Rs.500 in his PPF Account, a penalty of Rs.50 is levied per year of default. The Government allows the subscribers to deposit amount in their PPF Account in a maximum of 12 installments. However, they can also deposit amount in lump sum. The PPF Scheme comes with duration of 15 years and subscribers can even extend it for blocks of 5 years each. One withdrawal per year is allowed for customers from the 7th financial year. The tenure of PPF Account can be extended for a block period of 5 years beyond the maturity period Loan Facility on PPF Account is available from 3rd Financial Year up to 5th Financial Year. The Interest rate charged on loan taken by the subscriber on his PPF Account is 2% more than the prevailing interest rate on PPF Account. Just have a look at the fund corpus that you can build using Public Provident Fund Scheme. For example: With an annual deposit of Rs.150000 for PPF Tenure of 15 years, you can get maturity amount equaling Rs.44,37,132 with an annual rate of 8.1% (compounded annually). Likewise, an annual deposit of Rs.150000 for the tenure of 30 years can fetch you an enormous amount of Rs.1,87,09,228 at 8.1% per annum (compounded annually).
Some Highlights of PPF Account
- PPF Scheme was introduced by the Ministry of Finance, Central Government of India in 1968.
- It is a savings-cum-tax-savings investment option.
- The present interest rate on PPF Account is 8.1% per annum (compounded annually).
- The Duration of PPF Scheme is 15 years.
- The minimum deposit amount in PPF Account is Rs.500 per year.
- The maximum deposit amount in PPF Account is Rs.1.5 Lakhs per year.
- A resident Indian is permitted to open a PPF Account.
- An individual can open only one PPF Account.
- The number of times a subscriber can deposit amount in his PPF Account is 1(Min) to 12(Max).
- The Lock-in period for PPF Scheme is 15 years. However, partial withdrawals can be made from the sixth year.
- PPF Account comes with Nomination Facility. A PPF Subscriber can do nomination in the name of one or more persons. Shares of nominees can also be defined.
- PPF Account can be extended for the period of 5 years after the tenure of 15 years.
- A PPF Account stands deactivated if the minimum amount in any year is not deposited. To activate the PPF Account, the bearer needs to pay a penalty of Rs.50, plus a contribution of Rs.500 for each inactive year.
- In the case of death of PPF Account Holder, the PPF Fund is paid to the nominee or legal heir (even before of tenure of PPF Scheme).
- Contributions made to PPF Account are tax deductible under section 80C.
- Interest earned and final amount under PPF Account is fully exempt from Wealth Tax.
- PPF Account can be transferred to other branches/banks or post offices free of charge.
Public Provident Fund Calculator is a simple online tool which allows you to calculate returns on your PPF (Public Provident Fund) Account. With the help of PPF Calculator Online Tool, you come to know the maturity amount of your PPF deposits The PPF Calculator takes into consideration the present PPF Annual Rate of Interest (8.1% annual) and shows you the interest earned and maturity amount. The results are shown in the chart and tabular form which are easy to comprehend and understand. You are required to select the subscription option, which can be yearly or monthly. Then, you have to select the annual deposit amount (if you have opted for a yearly subscription) or else monthly deposit amount (if you have opted for a monthly subscription). The PPF Tenure by default is 15 years which can be extended up to 30 years. Once you select the subscription option, deposit amount, and tenure for your PPF Account, the Public Provident Fund Calculator shows you total deposit amount, Interest earned, and Maturity Amount. The results are elaborately displayed in both tables as well as chart formats.