Building wealth starts with saving. There are many types of savings accounts, but it’s important to find those offering strong returns without risk. One popular option is the Public Provident Fund (PPF) account, which is designed to invest your hard-earned money.

For those who are new to investing or parents saving for their future, a PPF account is an ideal choice. Calculating the returns on your PPF account can be complex, but using a PPF account calculator simplifies this process.

How does a PPF calculator assist you?

This financial tool helps resolve questions about your PPF account. It follows specific rules to calculate the maturity amount over time and tracks the growth of your investment. For current account holders, it is important to know that interest rates can change monthly.

With the advent of the public provident fund calculator, it has become much easier to track these fluctuations. Many user-friendly calculators are available, but for reliability, IPOtank is a recommended option.

PPF Calculation Formula

IPOtank uses the following formula to calculate your deposit amount, interest, etc.:

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

Where:

To better understand PPF calculations, let’s look at an example. This calculation can be simplified by using a PPF calculator.

For instance, if an individual contributes Rs. 1,50,000 annually to a PPF account for 15 years at an interest rate of 7.1%, their maturity amount at the end of 15 years will be Rs. 40,68,209.

By reviewing the opening balance, closing balance, deposit amount, and interest rate, you can easily monitor the account. The following table provides a quick overview of the account’s progression.

Apart from yearly PPF calculations, monthly calculations are also possible with PPF calculator monthly.

How to use PPF calculator?

To enjoy this computing tool to the maximum, you need to understand how it works. Its user-friendly and accurate information makes it a device worthy of purchase. The only job of the user is to put values within specific columns and you are good to go. Details that are to be provided to this PPF amount calculator include tenure, total amount invested, interest earned and also amount invested monthly or yearly.

• Enter the values in the requisite fields and the total maturity amount will be reflected within seconds.
• If an individual deposits amount on 1st of April then interest will be calculated based on financial year. Inflation might affect this interest rate.

Advantages of using PPF calculator

The list below demonstrates benefits of using online PPF calculator. Have a look at it.

• This computing device allows users to make a clear idea about how much interest can be earned with the investment of a certain amount of money.
• With the assistance of this calculator, you can be saved from paying hefty tax.
• We often find it difficult to decide on maturity period of their investment and this problem is easily solved with the use of PPF calculator India.
• It also offers estimation on total investment in a financial year.
• To ensure that the user is able to get accurate result, it is essential to provide the computing device with deposited amount along with type of deposit i.e. fixed or variable.