Indian Bank PPF Account offers Indian citizens to make contributions under its Public Provident Fund scheme. This scheme is a type of low-risk long term investment and provides tax-saving benefits. Furthermore, one can make use of the PPF calculator of Indian Bank to calculate the returns on their PPF account. This Scheme is operational in all branches of Indian Bank with a lock-in period of 15 years.

What is a PPF Scheme and How it Provides Returns?

The PPF account or Public Provident Fund scheme is one of the most popular long-term investment methods, owing to its benefits of safety, returns and tax savings. The reason behind its popularity is the government of India that guarantees your investments in the fund. The interest rate is also reviewed by the government every quarter. The lock-in period of this scheme is 15 years and one can invest a minimum of Rs. 500 and a maximum of Rs. 1,50,000 in a financial year. With the help of Indian Bank PPF Calculator, it becomes very easy to calculate the returns that you will earn on your PPF investment.

How is Interest on PPF calculated?

The Indian Bank PPF interest is calculated on a monthly basis based on the pre-determined rate of interest decided by the government. However, the interest accumulated s credited to the account at the end of the financial year.

PPF Maturity Calculation

The PPF returns are calculated with the help of following formula:

F = P [({(1+i) ^n}-1)/i]

This formula represents the following variables –

  • F – Maturity of PPF
  • P – Annual instalments
  • i – Rate of interest
  • n – Total number of years

How to Calculate the Maturity Value of your Indian Bank PPF Account?

Calculating the maturity value using this calculator is super easy quick! All you have to do is provide some basic details pertaining to your PPF scheme:

  • Enter the yearly investment amount or adjust the slider to set the amount
  • Choose the time period of the PPF investment.
  • Once all the above details are provided, the PPF calculator of Indian Bank will calculate the total investment amount, total interest and the maturity value at the end of the investment period.

Benefits of Using PPF Calculator

  • The Indian Bank PPF calculator provides you with an estimate of the interest you will earn and the cumulative maturity value for the principal value invested and investment period.
  • This estimation of the returns earned at the end of the investment period helps you know whether the investment option chosen aligns with your financial goal or not.
  • Easy to use; saves a lot of time by providing quick results

Indian Bank PPF Scheme – FAQs

Ques. How much return I can expect on PPF after 15 years?

Ans. The maturity amount in the PPF account after 15 years depends on the principal amount chosen and the interest earned on it.

Ques. What is the current Interest Rate provided under the PPF scheme?

Ans. The interest rate for PPF is revised by the Central Government of India every quarter. The current interest rate is 7.1% per annum.

Ques. Is there any loan facility provided against PPF? If yes, then how to avail the same?

Ans. Yes, a PPF account holder in Indian Bank can take a loan against the deposits in a PPF account from the third financial year and till the end of the sixth financial year.