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PPF Calculator
How to calculate the FatakPay PPF?
Calculating your PPF involves determining the amount you will accumulate over the course of your investment period, factoring in both your contributions and the interest earned. Here's a simple guide to calculating your PPF balance:
Components of PPF Calculation:
1. Annual Contribution: The amount you contribute to your PPF account every year. You can contribute in lump sums or in installments, but the total contribution should not exceed ₹1.5 lakh in a financial year.
2. Interest Rate: The interest rate is determined by the government and it is compounded annually.
3. Investment Tenure: The period for which you intend to invest in PPF. The minimum tenure is 15 years, but it can be extended in blocks of 5 years.
The formula shown in the image is the compound interest formula:
A = P × (1 + r/100)ⁿ
Where
- A = Maturity Amount
- P = Annual Contribution
- r = Annual Interest Rate
- r =Annual Interest Rate (in decimal form)
- t = Number of years of investment(in years)
How To Use The FatakPay PPF Calculator?
1. Enter Contribution Details: Input your annual contribution.
2. Interest Rate: Input the current interest rate offered by the government on PPF (this rate is revised quarterly).
3. Investment Duration: Set the investment duration (in years), which is typically 15 years but can be extended.
Once you enter these details, the PPF Calculator will instantly compute the total amount accumulated at maturity, including the interest earned.
Benefits of Using a PPF Calculator:
- Accurate Projections: Get a clear view of how much you’ll have at maturity.
- Flexible Planning: Easily adjust your contributions and tenure to maximize returns.
- Tax Benefits: PPF contributions qualify for tax deductions under Section 80C, and the interest earned is tax-free.
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FAQs
What is a PPF Calculator?
A PPF Calculator is an online tool that helps you estimate the maturity value and interest earned on your Public Provident Fund (PPF) account based on your monthly or yearly contributions.
How does a PPF Calculator work?
The calculator takes into account the contribution amount, interest rate and tenure of the PPF account to calculate the maturity amount, which includes both the principal and interest accrued over time.
Is the interest rate fixed for PPF?
No, the interest rate for PPF is set by the government and is reviewed quarterly. The PPF Calculator reflects the current interest rate to provide accurate calculations.
Can I change my PPF contribution amount in the middle of the year?
Yes, you can modify your monthly or annual contributions within the allowed limit during the course of the year. The PPF Calculator allows you to analyze this.
How do I calculate the maturity value using a PPF Calculator?
To calculate the maturity value, enter the amount you plan to contribute, the duration (years) and the interest rate into the PPF Calculator. It will automatically compute your total maturity amount.
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