PPF calculator: How to earn big with Rs 5000 monthly deposit

New Delhi: The Public Provident Fund (PPF) continues to be widely favored by investors aiming to build a retirement corpus. It also serves as a valuable tool for creating savings earmarked for a child’s future. PPF operates as a long-term financial instrument with a fixed maturity period of 15 years. Individuals, including parents or guardians, have the option to open a PPF account either in their own name or on behalf of a minor. Presently, the scheme offers investors an attractive interest rate of 7.10% per annum. Let’s determine the accrued interest on an investment of Rs 5,000 over a span of 15 years.

PPF Interest Rate 2024 & corpus

If an individual makes an investment of Rs 5,000 every month for 15 years, the depositor will be entitled to get a maturity amount of Rs 15,77,841 including total interest of 9,00,000. The amount has been calculated with the current interest rate of 7.10 per cent for 15 years. The total deposit made throughout the investment period sums up to 9,00,000 rupees.

How much you can invest in PPF?

The PPF has a fixed lock-in period of 15 years, during which you can deposit between Rs 500 and Rs 1.50 lakh per financial year. You can make deposits can be made in lump-sum or in ​installments. Investors have the option to retain the maturity value in their PPF account without further deposits. The applicable PPF interest rate will continue to accrue, and withdrawals can be made at any time, with a maximum of one withdrawal permitted per financial year.

What happens if the PPF account holder dies?

Upon the death of the account holder, the PPF account ceases operation, with nominees or legal heirs unable to make further deposits. In the event of closure due to death, the interest accrued on the PPF account will be paid up until the end of the preceding month in which the closure occurs. This ensures that any accumulated interest is accounted for up until the account’s cessation following the account holder’s demise.. The amount has been calculated with the current interest rate of 7.10 per cent for 15 years. The total deposit made throughout the investment period sums up to 18,00,000 rupees.

 The PPF has a fixed lock-in period of 15 years, during which you can deposit between Rs 500 and Rs 1.50 lakh per financial year. You can make deposits can be made in lump-sum or in ​installments.  Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today