What is PPF?
The idea of investing is no longer reserved for the rich. Investing has become quite popular among Indians of all ages and classes because people have become more mature about saving money. In order to promote these good habits in people, the Government of India offers a variety of investment schemes. Public Provident Funds (PPFs) are one of those schemes. You can invest as little as Rs. 500 every year for a period of fifteen years in a PPF scheme, which is a long-term investment plan.
The deposited amount can be withdrawn with interest or extended for another 5 years after the PPF matures, which is 15 years.
You will be able to save money not only for yourself but also for your family members as a result of doing so. However, under section 80C and section 10 of the Income Tax Act, 1961, the government provides deductions on the amount deposited as well as the interest earned on the amount deposited. Additionally, you can get tax exemptions up to Rs. 1.4 Lacs.
PPF Interest Rate
Currently, the PPF interest rate is 7.9% annually, compounded annually. The interest rate on PPF returns is set by the government every quarter on the basis of the return of government securities on the PPF. Due to the fact that the interest rate on PPF returns is not affected by stock market performance, it is very likely that the interest rate does not drop by a great deal. As a result of this notion, PPF is among the best tax-saving as well as investment schemes in India at the same time. With the help of the PPF Calculator, you will be able to find out how much interest you will be able to earn at the end of the PPF tenure.
What is PPF Calculator?
With the help of a PPF calculator, you can easily calculate the maturity and interest of your PPF account online. This calculator has been developed in order to save you the trouble of doing math. PPF calculator allows you to calculate the interest that you will earn when investing in a PPF scheme without having to do math. You can use a PPF calculator to get detailed information about the maturity of your PPF, the amount of interest that you will earn during your PPF tenure, and the amount of principal you will receive after your PPF tenure ends. With a simple Google search, you can get a PPF calculator instantly, just by typing in a few words.
How to use PPF Calculator?
In order to use PPF Calculator, you simply need to provide the following details: if you are considering investing in PPF schemes, you will have to understand how to use the PPF Calculator in order to maximize the benefits you receive from those schemes. To use the PPF calculator, all you have to do is provide the following information:
Tenure of PPF Account – You can further extend the tenure of your PPF by a further 5 years until you reach a maximum of 50 years. PPFs have a 15-year minimum tenure.
Frequency of payments – If you are interested in investing in PPF, you can do it on four bases: monthly, quarterly, half-yearly, and annually.
Deposit Amount – As In the case of a fixed payment frequency, deposit money refers to the amount you are going to deposit every month during the tenure of the loan.
Interest Rate – As far as interest rates are concerned, they are the rates of interest on your investment. At the moment, the interest rate on PPF returns is 7.9% per annum.
By When you enter these details, you are able to easily calculate the earned interest as well as the maturity amount of the PPF.
