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A PPF account with UCO Bank offers a range of benefits such as tax exemptions, high-interest rate, easy processing, and flexibility in choosing the amount and tenure extensions. A PPF account is backed by the government and is a safe long-term investment for depositors. One can take the help of online UCO Bank PPF Calculator to calculate the maturity value on their PPF account. There are currently around 130 branches of UCO Bank that accept PPF applications.

What is a PPF and How it Works?

Public Provident Fund is a type of savings scheme which inculcates the habit of investment and provide savings in small amounts for depositors. The minimum deposit can start from as low as Rs. 500 to a maximum of Rs. 1,50,000 in a financial year. PPF has a mandatory lock-in period of 15 years and the interest is compounded annually. Furthermore, one of the advantages of this scheme is it offers a rebate on income tax under Section 80C of the Income Tax Act to the depositors.

UCO PPF Account Interest Rate Calculator

If you are investing your hard-earned money in PPF, then you must know how is t calculated; what is the formula to calculate the maturity value of your PPF account.

The formula for UCO PPF maturity value calculation is given below:

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

The variables represent the following–

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

How to Use the PPF Account Calculator of UCO?

The UCO Bank PPF calculator is an online tool which helps to calculate the maturity value after 15 years on your PPF account. The calculator is a user-friendly tool and takes less than minute to compute the value:

  • Enter the yearly investment amount or adjust the slider to set the amount
  • Provide the time period of the PPF investment.
  • The calculator will automatically calculate the total investment amount, total interest and the maturity value at the end of the investment period

Advantages of Using PPF Calculator

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

UCO Bank PPF – FAQs

Ques. Who is eligible to apply for the PPF scheme?

Ans. An Indian citizen who is above 18 years of age can open a PPF account. Individuals under 18 years of age can also get PPF account opened in their names with the help of their parents or guardians.

Ques. Is partial withdrawal amount from PPF Taxable?

Ans. No. One of the important aspects of PPF account is along with the maturity amount, the amounts of partial withdrawals are also tax-free.

Ques. What is the 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 provided on PPF is 7.1% per annum.

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