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Key takeaways:
Bonus tip:
PPF interest in the calculator is based on the lowest balance between 5th and last day of every month. It is important to remember that investing your money before the 5th of each month can increase your returns. This habit of not ignoring the deposit timing, you can earn extra return and this will make your PPF investing more fruitful.
The Bank of India PPF calculator is an interactive online tool. It requires only basic investment details like yearly investment amount and tenure. You will get the estimated future value of investment in just a few seconds.
Take the Bank of India PPF calculator as a mirror. Just like a mirror shows your reflection, the PPF calculator shows your today’s savings in the next 15-20 years instantly.
For example, if Karan invests ₹ 1,00,000 annually for 15 years at 7,.1% interest rate. The PPF calculator will give the estimated amount of total investment i.e ₹15,00,000 and total maturity value of ₹27,00,000.
To make an informed decision regarding your long term PPF investment can be done using the Bank of India PPF calculator. The calculator makes sure that you choose the right PPF investment amount for your account. It gives you clear estimates of the future of your investments.
Examples 1. Rohit is a 27 year old young professional who wants to invest and build a tax free return.
Investing even a small amount per year can build good amount in the long run.
Example 2. Sakshi is a married woman who wants to invest for her son’s higher education:
Sakshi has started late but realised that her small savings are a long term security for her child’s education.
PPF stands for Public Provident Fund. It is a scheme offered by the Government of India to encourage long term investing. The key features of PPF are:
₹7,50,000
₹4,50,000
*T&C Apply
The PPF scheme is very useful for people who are interested in tax free and fixed returns.
Anyone can use the Bank of India PPF calculator like a salaried person, self employed, homemakers, a married couple planning for their child’s education or retirement planners.
The compound interest formula is used by the calculator to estimate the maturity value.
A = P * (1 + r/n)^(nt)
To understand the above formula, we need to split the variables as :
A- maturity of PPF, P- deposit amount, R- rate of interest, T- investment tenure and N- total number of years in which interest is compounded.
The Bank of India offers PPF interest rate of 7.1% per annum. This rate is subject to change every quarter based on government regulations. PPF with the Bank of India is a safe and tax-efficient instrument for long term savings solutions.
By following the below simple steps, you can easily access the Bank of India PPF Calculator:
Step 1- go to the official website of the Bank of India PPF Calculator https://cleartax.in/s/bank-of-india-ppf-calculator.
Step 2- provide the yearly investment amount or adjust the slider accordingly.
Step 3- enter the time period of the PPF investment.
After providing the above details, you will instantly get the estimated investment amount, interest earned and the maturity value of your investment.
Below are the few key benefits of using the Bank of India PPF calculator:
1-the calculator gives you instantly the estimated maturity value of your PPF investments.
2- The calculator helps you plan the investment in a more clear and confident way.
3-it is an easy, user-friendly and free online tool that can be used by anyone from anywhere.
4- It is a time saving tool as it eliminates the complex formulas by giving instant results using the compound interest formula.
While using the Bank of India PPF calculator, it is important to consider the above benefits.
The Bank of India PPF calculator is a simple online tool for you to build tax free and long term returns. It uses the compound interest formula which makes the calculation easy and gives you the results instantly. PPF is a scheme offered by the government which is ideal for low risk investment. By starting to invest early, you can turn your investments into a strong wealth for your financial future.
1- what is a PPF calculator?
A PPF calculator is an online tool. It helps you know your future estimated maturity value of the PPF investment.
2-what are the benefits of using PPF calculators?
The PPF calculator helps to take a more confident financial decision before investing in a PPF scheme. It is a time saving tool and can be used by anyone with no charges. The calculator helps you estimate the maturity value of your PPF investment.
3- I opened a PPF account in September 2018 but now I need some money for a down payment. Am I eligible to withdraw the PPF amount?
Yes, you are eligible to withdraw only if you have completed your 6 years subject to the 50% limit.
4-how does the PPF work and is worth investing in it?
PPF works with an investment amount, tenure and interest rate. Yes, it is worth investing in a PPF scheme but it completely depends on your financial goals. By using a PPF calculator, you can see how even a small investment can grow over a period of time.
