New Delhi: Public Provident Fund (PPF) has been one of the hot favourite saving schemes for the people of the country for years. PPF is considered to be an apt financial scheme for people who are uncomfortable in taking risks. Though the returns may not be very attractive, investing in PPF helps a depositor diversify the portfolio and enjoy tax benefits.
PPF calculator
If you invest Rs 8,000 per month in PPF for 15 years, the maturity amount will be 25,24,545. Out of this amount, your nominal investment is Rs 18 lakh and the interest earned would be Rs 10,84,544. The PPF calculator has been used to get the estimated amount. The assumption is based on the interest rate in PPF remaining the same at 7.1 per cent.
PPF calculator: Rs 8000 monthly investment
Year
Deposit Amount
Balance Amount
Interest Amount
1
Rs 100000
Rs 107100
Rs 7100
2
Rs 200000
Rs 221804
Rs 21804
3
Rs 300000
Rs 344652
Rs 44652
4
Rs 400000
Rs 476222
Rs 76222
5
Rs 500000
Rs 617134
Rs 117134
6
Rs 600000
Rs 768051
Rs 168051
7
Rs 700000
Rs 929683
Rs 229682
8
Rs 800000
Rs 1102790
Rs 302790
9
Rs 900000
Rs 1288188
Rs 388188
10
Rs 1000000
Rs 1486749
Rs 486749
11
Rs 1100000
Rs 1699408
Rs 599408
12
Rs 1200000
Rs 1927166
Rs 727166
13
Rs 1300000
Rs 2171095
Rs 871095
14
Rs 1400000
Rs 2432343
Rs 1032343
15
Rs 1500000
Rs 2712139
Rs 1212139
PPF interest rate, tax benefits
Currently, the government has fixed the PPF Interest Rate at 7.1 per cent per annum. A PPF account holder is required to make a minimum investment of Rs 500 and maximum investment amount is Rs 1.5 lakh per annum.
PPF has a lock-in period of 15 years, which means the depositor is required to pay the amount for 15 years. Risk profile is NIL as the government-managed savings scheme offers guaranteed, risk-free returns. The PPF account holders can enjoy tax benefits up to Rs 1.5 lakh under Section 80C.
A PPF account holder is entitled to avail a Loan facility from the 3rd financial year up to 6th financial year. Withdrawal is permissible every year from 7th financial year.
Public Provident Fund (PPF) calculator can be used to see what will be the maturity amount on Rs 8,000 monthly deposit for 15 years. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
