PPF Calculator – All those who are interested in doing some investment in PPF means public provident fund then you are at right place. Today, we are going to share PPF Calculator you can check your Interest Rate, Return after the 15th year of PPF Investment. How your Investment grows particular period can also check it out here. You have just to enter your Yearly deposit amount everything will be calculated manually.
What is PPF?
Many people don’t know about the PPF – Public Provident Fund) is a one of the best Investment in India. It started in 1968 by National Saving Institute of the Ministry of Finance by the Central Government of India. If you are investing some amount of the Investment then also you can get the Tax Exemption for all that return.
PPF provides 8.1% return annum (computing annually), and it’s totally tax-free income. Anyone individual Indian resident(including minor but not NRIs) can open an account with any nationalised bank (SBI, PNB, Central Bank of India, etc.) or post office or some authorised private banks (ICICI, HDFC, Axis Bank, etc. ). You must have to invest fo a 15th year.
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Some More Important Facts About PPF
- Interest rate : 8.1%
- Duration of scheme : 15 years
- Minimum deposit amount (per year) : 500
- Maximum deposit amount (per year) : 1,50,000
- Number of instalments every year : 1 (Min) to 12 (Max)
- Number of accounts one can open : Only One
- Lock-in period : 15 years (partial withdrawals can be made from the sixth year)
- Extension of PPF Account : After the maturity period (15 years), it can be extended for a period of 5 years
- Tax savings (contribution) : under section 80C (upto 1.5 L)
- Tax savings (interest earned and final amount) : fully exempted from wealth tax
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Some PPF Rules you need to know
- From 1.4.2014, PPF interest rates is 8.70% per annum (compounded yearly).
- Minimum Rs. 500 Maximum Rs 1,50,000 in a financial year.
- Lock-in period is of 15 years (some withdrawals can be made from the sixth year)
- Interest is tax free !
- Loan facility available from 3rd Financial Year
- The PPF account can be opened in a Post Office which is Double handed and above or in Nationalised banks ( like (SBI, PNB, Central Bank of India etc) or some authorized private banks (ICICI, HDFC, Axis Bank etc)
- Joint account cannot be opened.
- Deposits qualify for deduction from income under Sec. 80C of IT Act.
Many people want to know that PPF Account is Transferable or not. Following are step by step Guide about that.
Is PPF Account Transferable ?
You can transfer your account to other branches / other banks or post office. You can transfer this service without any problem you don’t need to pay anything extra.
Step: 1 First thing you have visit your bank or post office where the PPF account is active and ask them to provide PPF Transfer form. Fill that form with all necessary details.
Step: 2 The Currant Bank or Post office will provide certified copy of the account and you will get all the money through cheque / dd and it will transfer from another account.
Step: 3 Now you have to fill up new PPF form of your new branch and complete all the necessary details.
Step: 4 If you are using Internet Banking then you can easily check your all the details on your Internet Banking tab.
So, above is all the details about the PPF Calculator. Interest/Returns on PPF Investment you can easily get all the Information.