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What is a PPF Calculator?

A PPF calculator can assist you in determining the investment value of your Public Provident Fund (PPF) over a specific period of time. PPF is a government-backed savings programme with a number of advantages. This long-term investment option has a lock-in period of 15 years and provides higher returns than other options like fixed deposits. PPF is a fantastic strategy to lower your tax burden while you are employed.

When you use an online PPF calculator, the calculator will simply apply the PPF calculation formula to determine the final value of your investment after a specific amount of time has passed and a specific PPF account interest rate.

Calculations might not come naturally to all of us. If you intend to invest in PPF but are unsure of how much to invest or how much return you might gain on investing a certain amount, Vakilsearch PPF calculator is the best choice. The calculator uses a 15-year tenure and the current interest rate to compute returns after you've decided how much you can decide to spend regularly.

What Is PPF?

The Public Provident Fund (PPF) was first launched in India in 1968. It aims to collect small contributions and turn them into investments with a return. Given that the earnings are tax-free, it continues to be a preferred method of saving for many investors. It is also known as an investment vehicle that lowers yearly taxes while allowing one to build up retirement money. Anyone looking for a safe investment option should open a PPF account to obtain guaranteed profits while also saving taxes.

How Is PPF Interest Calculated?

The formula shown below is used by a PPF Calculator to perform the required computations.

A= P * (1+R)

  • The PPF maturity amount is represented by 'A'
  • You can choose between month, quarterly, half-yearly, or annual frequency
  • Your major investment in your PPF is denoted by the letter ‘P’
  • ‘r’ stands for the interest rate announced by the government
  • ‘t’ stands for the time period that you have kept money invested in your PPF account.
  • How Does the PPF Calculator Help You?

  • When you are making investment plans, using Vakilsearch online PPF calculator can help in determining the project returns easily.
  • The total amount of return on the expected investment is readily shown
  • The calculator can be used repeatedly until you find the right amount to invest to achieve the desired returns
  • Automating this allows for the avoidance of errors and the skipping of manual calculations
  • The calculator can be used during the tax planning process to help you to plan your investments
  • You may be able to estimate how long you have until retirement and how much wealth you can accumulate up until then if you choose to extend the PPF account beyond the lock-in period.
  • Benefits of the PPF Calculator From Vakilsearch

    Calculating your returns is simple with an online PPF calculator. However, there are some added advantages. The following benefits of utilising the Vakilsearch online PPF calculator include

  • Setting a goal: If you have a goal in mind, you may check with the inputs in our online PPF calculator. The calculator can easily determine how much you'll need to put in each year to reach your objective
  • Easy calculations: The formula for calculating PPF is somewhat complicated. When performing calculations manually, mistakes may occur. If you want to understand how your annual contributions affect the final value, it could be particularly challenging
  • Accurate tax results: Using a calculator can help you plan your taxes since you'll be able to determine how much you can deduct annually under Section 80C of the Income Tax Act, 1961 once you know how much you'll need to donate annually.
  • The Following Considerations Must Be Made Before Utilising the PPF Calculator

  • A maximum of ₹1.5 lakhs may be deposited into your PPF account in any one fiscal year
  • You can fund your PPF account with as low as ₹500 per year
  • Once a year, the interest is compounded ( at the financial year-end )
  • The PPF account's earnings are completely tax-free
  • The PPF interest rate may fluctuate every three months, as stated by the Ministry of Finance.
  • How to Use the PPF Calculator

    Our PPF calculator has a simple, user-friendly layout. However, if you've never used an Online PPF calculator before, follow these easy steps to utilise this free calculator:

    Step 1: Visit Vakilsearch PPF Calculator

    Step 2: Enter the following information

  • PPF account tenure: How long has your PPF account been open? It can range from at least 15 years, to 50 years, the period may be extended in increments of 5 years
  • Deposit frequency: You have the option of setting a monthly, quarterly, half-yearly, or annual payment or deposit frequency
  • Deposited amount: The amount deposited refers to the sum you decide to add to your account at each interval of deposit. For example, if your deposit is ₹500 and you choose to make monthly contributions, the total PPF contribution to your PPF account at the end of any given year will be ₹6000
  • Rate of interest: The Finance Ministry releases this figure each year as the annual rate of return on PPF contributions. As of the first quarter of FY 2019–20, the PPF interest rate is set at 7.9%.
  • Step 3: Click on the continue button

    Step 4: Recognise the result

    The PPF calculator returns the results/outputs listed below

  • PPF account's opening balance: It is the balance on the first day of the fiscal year
  • Total deposit: After adding up all of the deposits made in that particular year, the total deposit made at the conclusion of the fiscal year will be displayed
  • Total Interest: Interest earned is determined based on your account's balance at the end of the fiscal year. The applicable interest rate is taken into consideration when calculating the annual compounded PPF balance
  • Closing balance: All deposits made during that year, and any interest you received during that time period is your closing balance
  • PPF loans - After the third year has passed since the date your account was opened, you are eligible to apply for a loan based on the remaining balance in your PPF account. Your maximum loan amount is equivalent to 25 % of your PPF account's opening balance for the prior year. The result displays the highest loan amount you may be qualified for at any given time. Based on the supposition that you did not take out any loans in the preceding year, this computation was made
  • Partial withdrawals: After six years after the account was opened, you are eligible to make partial withdrawals from your PPF account. The maximum withdrawal amount is equal to 50% of the balance in your PF account from the previous year. The PPF calculator will show you how much you can withdraw in total at any given time. This computation is predicated on the notion that you didn't make any withdrawals or take out any loans in the previous year.
  • Benefits of PPF Calculator

  • Because PPF investments are backed by the government, the risk component is low
  • Nationalised banks, public banks, post offices, and certain select private banks all have a broad range of locations where you can open a PPF account
  • Even though a PPF's lock-in period is 15 years, there are options to obtain loans or withdraw some money after 7 years. When compared to bank FDs, the returns from a PPF are more alluring
  • PPF deposits are classified as EEE (exempt-exempt-exempt). Consequently, all of the invested principle, interest, and cash at maturity are tax-free. Deposits made to a spouse's or child's PPF account are likewise exempt from taxes.
  • Who Is Eligible for a PPF Account?

  • Any resident of India who is at least 18 years old may register a PPF account
  • Each individual is only permitted a single account
  • It is possible for parents to open PPF accounts on behalf of their minor children
  • An existing PPF account cannot be opened by a non-Indian citizen. However, NRIs (non-resident Indians) who previously had PPF accounts can keep them open till the end of the 15-year lock-in period. They cannot, however, contribute to the PPF any further.
  • It is prohibited for a HUF (Hindu Undivided Family) to register a brand-new PPF account. However, it may still make contributions to the PPF account it started before 13 May 2005. The maturity term may not be extended at any time in the future.
  • FAQs On PPF Calculator

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