If you are a new employee or an active parent looking to save for the future, the PPF proves to be an ideal choice. However, determining the interest rates and returns on your PPF account can be challenging. PPF accounts are commonly encountered aspects that come into play. To simplify these complex calculations, you can utilise a PPF calculator.
PPF stands for Public Provident Fund. It is a popular investment strategy among investors because of its numerous investor-friendly features and perks.
PPF is a long-term investment programme popular among those seeking high yet predictable returns. Individuals who register a PPF account want to ensure that the principle sum is kept safe.
When a PPF plan is created, an account is set up for the applicant in which money is put every month and interest is accumulated.
This financial tool enables individuals to address inquiries concerning the Public Provident Fund account. There are specific criteria to be followed when calculating the maturity amount after a designated period. It monitors the capital's growth. Those who possess a PPF savings account are aware that interest rates fluctuate every month.
In the present day, staying informed about changing rates has become more accessible.
However, with the introduction of the Public Provident Fund calculator, account holders can effortlessly determine monthly variations in interest. In the market, numerous user-friendly PPF calculators are available, and for selecting reliable ones such as BlinkX.
To compute the deposited amount, interest, etc. The following formula can be used for PPF calculation:
F = P [({(1+i) ^n}-1)/i]
This formula represents the following variables:
I | Rate of interest |
F | Maturity of PPF |
N | Total number of years |
P | Annual instalments |
Example: Imagine that you contribute Rs. 1,20,000 annually to your PPF account for 15 years at an interest rate of 7.1%. The total amount would be 32,54,567 at the end of 15 years.
The following list outlines the advantages of using a PPF calculator online. Take a glance.