PPF or public provident fund is one of the popular savings schemes in India, which also saves on tax. It was introduced by National Savings Institute in 1968, under the Ministry of Finance. A PPF interest calculator on Loanbaba is an online financial tool that helps you calculate the interest earned on your PPF account. It also calculates the maturity amount that you are entitled to get after 15 years of this investment.
PPF is one of the investment schemes, which offers Exempt, Exempt, Exempt (EEE) benefit, tripling tax exemption in below-mentioned ways:
Here is a look at PPF interest rate 2018 and 2019.
PPF Account |
Details |
PPF Current Interest Rate |
8% from 1 January, 2019 |
Lock in period |
15 years |
Minimum Deposit Amount for a Year |
Rs. 500 |
Tax Applicable on PPF interest |
No tax applied |
Public Provident Fund by SBI (State Bank of India) is a government scheme that is distributed through the bank branches and post offices, and every bank branch in India. You can add nominees to your account and manage the services and the account online. To open SBI PPF account, you can visit the nearest branch and fill the PPF form to carry out the required formalities.
You can use the free-of-charge online PPF calculator SBI to calculate the earned interest.
The online PPF calculator 2019 works in the following ways:
Below given is the Public Provident Fund Calculator that you can use free-of-cost on our website.
Below given are some of the important questions asked about Public Provident Fund.
Below are the details of who can apply for a PPF account.
The PPF account matures after 15 years from its opening date. You can extend the account for a block of 5 years. To extend the maturity of your PPF account, you need to submit Form H in the bank within a year from the maturity date. There is no limit to the number of times you request for an extension. But, you can withdraw only up to 60% of your account balance at the start of the extension period. Withdrawal is restricted to once in a particular financial year.
You can withdraw from your Public Provident Fund account, after it completes at least 7 years from its date of first deposit, subject to an upper limit of 50% of the amount available in the account. You can only make a complete withdrawal on scheme’s maturity or on demise.
In 2016, an amendment was made in PPF scheme to facilitate premature closing of the account. You can close the account after it completes at least 5 years. But premature closure is only allowed if the reason for the same is to fund higher education or for medical treatment of family member. If you close your PPF account before its maturity then you have to pay 1% of your account balance as penalty to the bank.
Yes, you can avail a loan on your Public Provident Fund between the 3rd and 6th financial year of opening this account.
Disclaimer: All information stated is purely for informational purpose. The PPF interest rates and scheme information may differ from what is here on the page, given any recent changes in bank and government policies.
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