Public Provident Fund (PPF) Calculator
An individuals very first step towards wealth management is gathering savings. There are various options for savings accounts though we look for the ones that guarantees substantial returns risk-free. In such a case Public Provident Fund accounts are one of the most common qualities that comes into the picture. PPF account stands for Public Provident Fund Account and is destined to invest your valuable funds.
In case you are a new employee or a responsible parent who wishes to save money for the future, then Public Provident Fund is the best for you. It is a little difficult to calculate the interest rates and returns on your Public Provident Fund account. Using the PPF Calculator makes this difficult calculations easy.
How Can a PPF Calculator Help You?
Public Provident Fund Calculator helps you to sort out your doubts related to Public Provident Fund account. There are definite statements that are to be observed while calculating maturity amount after a certain period. It keeps a path on the growth of your fund. People already having a Public Provident Fund savings account knows that interest rates change on monthly basis.
These days, it is easier to look over on the changing rates. But, with the discovery of public provident fund calculator, it becomes easy for the account holders to find out the monthly changes made in interest. You will find lot of user-friendly PPF calculators in the market and for choosing the honest ones, Personal Calculator is the best option.
Formula For Calculating Public Provident Fund
Public Provident Fund formula is used to calculate the deposited amount, interest, etc. This formula is given below –
F=P [({(1+i)^n} – 1)/i]
The above formula shows the following variables –
I |
Rate of interest |
F |
PPF maturity |
N |
Total number of years |
P |
Annual Installments |
An example has been given to clear your concept about Public Provident Fund calculation. Once you buy the Public Provident Fund calculator, the calculation becomes easier.
For example, a person pays an annual amount of Rs. 1,50,000 in their Public Provident Fund investment for a duration of 15 years at an interest rate of 7.1%, then his/her maturity sum at the closing period will be equal to Rs. 40,68,209.
A quick look on the opening balance, closing balance, withdraw amount along with the rate of interest will definitely help you out. Look at the table shown below-
YEAR |
OPENING AMOUNT |
DEPOSIT |
RATE OF INTEREST |
CLOSING AMOUNT |
LOAN |
WITHDRAWAL AMOUNT |
1 |
0 |
Rs. 150000 |
Rs. 11400 |
Rs. 161400 |
0 |
0 |
2 |
Rs. 161400 |
Rs. 150000 |
Rs. 23666 |
Rs. 335066 |
0 |
0 |
3 |
Rs. 335066 |
Rs. 150000 |
Rs. 36865 |
Rs. 521931 |
Rs. 40350 |
0 |
4 |
Rs. 521931 |
Rs. 150000 |
Rs. 51062 |
Rs. 722998 |
Rs. 83767 |
0 |
5 |
Rs. 722998 |
Rs. 150000 |
Rs. 66348 |
Rs. 939346 |
Rs. 130483 |
0 |
6 |
Rs. 939346 |
Rs. 150000 |
Rs. 82790 |
Rs. 1172136 |
Rs. 180750 |
0 |
7 |
Rs. 1172136 |
Rs. 150000 |
Rs. 100482 |
Rs. 1422618 |
0 |
Rs. 260966 |
8 |
Rs. 1422618 |
Rs. 150000 |
Rs. 119519 |
Rs. 1692137 |
0 |
Rs. 361499 |
9 |
Rs. 1692137 |
Rs. 150000 |
Rs. 140002 |
Rs. 1982139 |
0 |
Rs. 469673 |
10 |
Rs. 1982139 |
Rs. 150000 |
Rs. 162043 |
Rs. 2294182 |
0 |
Rs. 586068 |
11 |
Rs. 2294182 |
Rs. 150000 |
Rs. 185758 |
Rs. 2629940 |
0 |
Rs. 711309 |
12 |
Rs. 2629940 |
Rs. 150000 |
Rs. 211275 |
Rs. 2991215 |
0 |
Rs. 846069 |
How To Use Public Provident Fund Calculator?
To enjoy this calculator to the maximum, you have to understand the way it works. Its user-friendly and its correct information makes it a device which deserved to be purchased. The only job of the user is to input values in the right columns and the results will display before you. Details which are provided to this Public Provident Fund amount calculator include total amount invested,tenure, interest earned along with the amount invested monthly or yearly.
- Input the values in the necessary fields and the total maturity amount will be display in seconds.
- If a person deposits amount on 1st of April then the interest will be compute based on financial year. This interest rate might get affected by infation.
Advantages of using Public Provident Fund calculator
Benefits of using the Public Provident Fund Calculator online are mentioned below:
- This calculator allows users to make a clear idea about the amount of interest earned with the investment of a specific amount of money.
- This calculator will assist you to be save from paying heavy tax.
- It is often difficult to decide on maturity period of the investment and this problem is can be solved easily by using the PPF calculator India.
- It also provides estimation on total investment in a financial year.
- To make sure that the user is able to get the correct result, it is essential to provide this calculator with deposited amount along and the type of deposit i.e. variable or fixed.