PPF Calculator

The Public Provident Fund (PPF) is a government-backed savings scheme that offers a secure and tax-free investment option to individuals. It was introduced by the National Savings Institute of the Ministry of Finance, Government of India in 1968. It is a long-term savings instrument that offers an attractive rate of interest and tax benefits under Section 80C of the Income Tax Act. In this article, we will discuss PPF in detail, including PPF calculator, PPF calculation formula, current and historic interest rates, where to open PPF account, taxation, and 80C benefits.

PPF Calculator

A PPF calculator is a tool that helps individuals calculate the maturity value of their investment in the PPF scheme. The PPF calculator takes into account the amount invested, the duration of the investment, and the prevailing interest rate to calculate the maturity value.

PPF Maturity Value Calculation Formula

The formula for calculating the maturity value is as follows:

M = P[(1+r/n)^(n*t)]

Where,

M = Maturity value
P = Principal amount invested
r = Annual interest rate
n = Number of times the interest is compounded per year
t = Number of years the investment is made for

PPF Interest Calculation Formula

The formula for calculating the interest on PPF is as follows:

Interest = P * r/100

Where,

P = Balance in the PPF account
r = Prevailing interest rate

The interest on PPF is calculated on an annual basis, but it is credited to the account at the end of each financial year. The interest is compounded annually

Current Interest Rate (2023)

The current interest rate on PPF is 7.1% per annum. The interest rate is fixed by the government and is subject to revision every quarter. The interest earned on the PPF account is tax-free.

PPF Interest Rates: Historic Data (Last 15 Years)

The table shows the historic interest rates of Public Provident Fund (PPF) in India for the last 15 years. The rates range from 6.80% in 2022 to 8.80% in 2012. The government sets the PPF interest rate and it can change every quarter.