Public Provident Fund is one of the most preferred fixed-income investment methods owing to its tax benefits and long-term assured returns. Kotak Bank offers hassle-free ways of investing in Public Provident Fund. One can also calculate their PPF contribution using the Kotak PPF calculator.

The Public Provident Fund (PPF) Account offered by Kotak Bank is fast and easy to open. Individuals who wish to open the account can do so online, through the Kotak Bank website. The entire process is extremely simple and user friendly.

What is PPF and How it Works?

The PPF is an efficient investment scheme that acts as a savings fund and doubles up as a tax saving solution to the depositors. This scheme comes with a mandatory lock-in period of 15 years during which the investors cannot close their accounts. However, one can make partial withdrawals from the 7th year subject to certain conditions. The PPF account interest rate may be changed once every quarter and decided by the Finance Ministry. Currently, the interest rate fixed is at 7.1%.

Kotak Bank PPF Maturity Calculation Formula

The Kotak Bank maturity value calculation formula is given below:

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

The variables used in the formula represents the following–

  • F – Maturity of PPF
  • P – Annual instalments
  • I – Rate of interest
  • N – Total number of years

How to Use the PPF Calculator for Kotak Bank?

Calculating the maturity value on your Kotak Bank PPF account can be done with a few simple steps:

  • Enter the yearly investment amount or move the slider to adjust the amount
  • Provide the time period of the PPF investment.
  • Once you enter the above details, the Kotak PPF account calculator will automatically calculate the total investment amount, total interest and the maturity value at the end of your investment period

Advantages of Kotak Bank PPF Calculator

  • It provides an investor with an estimation of the interest that can be earned on the amount of principal in hand.
  • Not to mention, it is easy to use, online calculator which saves you a lot of time by skipping the intricate calculations
  • The Kotak Mahindra Bank PPF calculator immensely helps in planning the yearly amount to be invested, loan that can be availed and the amount that can be withdrawn.