PPF Calculator, Public Provident Fund (PPF), launched by the government of india in 1968, is a tax-deductible, low-risk saving scheme.
It means for converting small savings to long-term investments that provide retirement benefits to self-employed persons.
Government saving schemes like ppf in india are quite popular. A survey conducted by nielsen revealed that saving and investing in the asia-pacific led globally at 61% and 37% respectively.
The ppf interest rate is 7.1% in 2020-21, and the minimum lock-in period is 15 years.
A significant advantage of ppf investments is that you can take loans against your account for expenses like a marriage or educational costs for a child.
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How does the PPF Calculator work?
If you have a PPF account, you would be interested to know how much principal and interest has accrued after a certain number of years.
Previously, the calculation used to be complicated, and you would need an accountant to show you the figures.
The PPF Calculator does the work of several calculations in an instant. Fluctuating interest rates, which are revised every three months, are considered. it does the computation based on the information you provide.
The time of the year you invest is also critical. the interest for the financial year is calculated on the amount invested before the 5th of each month. If deposits are made after the 5th, the interest will be less, and the calculator will compute accordingly.
How can a PPF calculator help you?
This financial tool allows one to resolve their queries related to Public Provident Fund account. There are certain specifications that are to be abided by while calculating maturity amount after a certain point of time. It keeps a track on the growth of your capital.
Those who already have a PPF savings account know that interest rates change on monthly basis.
Nowadays, it is easier to keep a check on changing interest rates. However, with the discovery of public provident fund calculator, account holders find it easier to find out monthly changes made in rate of interest.
In the market, you may find lot of user-friendly PPF calculators and for choosing trustworthy ones, sharemint is simply the option
What are the advantages of using it ?
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