PPF Interest Rate Calculator calculates the maturity or the interest earned on a Public Provident Account. PPF is a savings scheme for Indians, which also allows saving taxes. This scheme was introduced by the National Savings Institute in 1968. This account was launched under the Ministry of Finance. With the PPF interest calculator on Loanbaba, you can calculate the interest and maturity amount over different tenures of investment in the said savings schemes. The online tool on the website is free of cost.
The initial maturity period is 15 years, but you can apply for premature closure under certain conditions. You can also initially extend the PPF account tenure by 5 years. After a year from extension, you can again apply to extend the period further. PPF is one of the investment schemes, which offers Exempt, Exempt, Exempt (EEE) benefit, tripling tax exemption in the below-mentioned ways:
In this post, we will discuss PPF interest rate facts, how to open a PPF account, PPF interest online calculator, and frequently asked questions.
The online PPF calculator works in the following ways:
Below is the Public Provident Fund Calculator that you can use free of cost on our website.
Below are some of the important questions asked about the 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 to the bank within a year from the maturity date. There is no limit to the number of times you request 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 the scheme’s maturity or demise.
In 2016, an amendment was made to the PPF scheme to facilitate the 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 members. If you close your PPF account before its maturity then you have to pay 1% of your account balance as a penalty to the bank.
Disclaimer: All information stated is purely for informational purposes. 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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