If you’re looking to invest in a Public Provident Fund (PPF) account, it’s important to know how much you can expect to earn in returns and interest. Our PPF calculator can help you easily calculate your potential earnings based on your investment amount and the current interest rate. Thus, you can use this calculator for SBI, post office, HDFC Bank, ICICI, PNB, Axis, Canara Bank, etc. Similarly, you can get here the year-wise growth amount once you submit the Re-calculate value button.
PPF Calculator: How to Calculate Your Returns and Interest?
The above calculator will help to calculate your returns on your investments in the Public Provident Fund Account. However, before proceeding to calculate your return, you need to have the information ready about your account. Let us understand what information you need before calculating the returns.
Understand the basics of PPF.
Before using a PPF calculator, it’s important to understand the basics of the Public Provident Fund. PPF is a long-term investment option offered by the Indian government that provides tax benefits and a guaranteed return on investment. The minimum investment amount is Rs. 500 per year, and the maximum is Rs. 1.5 lakh per year. The current interest rate for PPF is 7.1% per annum, compounded annually. The maturity period for a PPF account is 15 years, but it can be extended in blocks of 5 years.
Gather your PPF account information.
Before using a PPF calculator, you will need to gather some information about your PPF account. This includes the amount you have invested, the number of years you have been investing, and the current balance in your account. You will also need to know the interest rate for the current year, which is set by the government and can change from year to year. Once you have this information, you can use a PPF calculator to estimate your returns and interest.
Input your investment details into the calculator.
To use the PPF calculator, start by inputting your investment details. This includes the amount you have invested, the number of years you have been investing, and the current balance in your account. You will also need to input the interest rate for the current year, which can be found on the government website or by contacting your bank. Once you have entered all of this information, the calculator will provide you with an estimate of your returns and interest. Keep in mind that this is just an estimate and your actual returns may vary depending on market conditions and other factors.
Review your calculated returns and interest.
After using the PPF calculator to calculate your returns and interest, it’s important to review the results carefully. Take note of the estimated amount you will receive at maturity and compare it to your initial investment. This will give you an idea of how much your investment has grown over the years. You should also review the interest rate for the current year and compare it to previous years to see if there have been any changes. If you are not satisfied with the results, you may want to consider adjusting your investment strategy or seeking advice from a financial advisor.
Adjust your investment strategy as needed.
Once you have calculated your returns and interest using the PPF calculator, it’s important to review your investment strategy. If you are not satisfied with the results, you may want to consider adjusting your investment amount or frequency. For example, if you want to earn more interest, you may want to increase your investment amount or make more frequent deposits. On the other hand, if you are struggling to make regular deposits, you may want to decrease your investment amount or adjust your budget. It’s important to regularly review and adjust your investment strategy to ensure that you are meeting your financial goals.