PPF Calculator (SBI and Other Banks) for Principal Amount | Check PPF Monthly Calculators Details Online | PPF Calculator for Public Provident Fund Deposit Interest Rate
Here is the new PPF Calculator to calculate your hard earnings on PPF deposit as per new interest rates of 2019 for your PPF account in SBI/ Post-Office/ HDFC and other banks etc without any finotax software, Also check what is the formula to calculate PPF and how interest is calculated. So continue reading ahead to get the full information.
PPF (Public Provident Fund) Calculator
Now it is up to you that how much amount you deposit. Depending upon the deposit, the Authority calculates the returns on the new PPF calculator. You must be amazed that when we have the Provident Fund Act then why it is important to invest in this scheme. Consequently, you need to check the principal cause, As to why we propose to utilize the Public provident fund scheme. It is one of the safest schemes. Along with it will be tax-free as well.
In 1986, the Public Provident Fund was inaugurated in India. The motive was to allow small-scale investors to invest for their future. The PPF interest is applied yearly and monthly on the amount that the investor deposits. The authority adds the amount to respective bank accounts on every 31st March of year. They transfer the amount after calculating with the new PPF calculator.
Note – For several reasons, the PPF is the safest way for future investment. As the official add the returns with appropriate interest rates for the concurrent year.
About the PPF Formula
We do have a lot of PPF calculators obtainable online. That calculates our total income by just entering certain minimum essential details. So if you desire to calculate your amount manually, then follow the below-mentioned steps:
One can easily calculate the PPF Account Amount with the compound interest formula:
- Formula: F = P [({(1+i) ^n}-1)/I]
- F= Maturity Proceeds of PPF
- P= Annual Installments
- n= Number of Years
- I= Rate of Interest/100
You just need to obtain your annual payments details from the account. After that calculate the number of years ended since you have applied for the PPF. This primary information is sufficient to calculate your PPF. This will let you plan for your upcoming future. Many employees use to take a loan on PPF account once their minimum period of 7 Years is completed.
Check Interest Rate of PPF
One can check the PF interest rate from the date of inauguration of the Public Provident Fund (PPF) effective from 1st April 1986 to the present date. To know more about this, kindly click the below link:
Which Bank is finest for PPF deposits?
There are a lot of banks (ICICI Bank, SBI, HDFC Bank, AXIS Bank) and Post Offices that provide PPF account as per the regulations of RBI and the Government of India. Out of these, SBI has several branches and has better flexibility with internet banking. Hence SBI is one of the finest options available for opening a PPF deposit account.