PPF Calculator : Public Provident Fund is a government scheme that teaches you to invest in a disciplined manner. This government scheme matures in 15 years, that is, it promotes long term investment. Its objective is to create a big fund in the future through regular savings. This government scheme is very popular especially among the salaried class. This scheme is completely tax free. Even though the interest in it has not increased in the last few years, it gives you the benefit of compounding. Let us know how much you will have to save every month if your goal is to create a corpus of Rs 25 lakh through this.
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PPF: How much can you deposit in PPF
Public Provident Fund is a small savings scheme of the post office. It gives 7.1 percent annual interest. A maximum of Rs 1,50,000 can be deposited in PPF in a financial year. It is necessary to invest at least Rs 500 in PPF every financial year. The maturity period of the scheme is 15 years, after which you get the full amount by adding interest and principal.
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How much to invest to raise 25 lakhs
Public Provident Fund is currently getting 7.1 percent annual interest. In our calculations, we have done the calculation on the basis of the continuation of the current interest rate.
Monthly investment: Rs 7750
Investment in one financial year: Rs 93,000
Interest: 7.1% compounded annually
Total investment in 15 years: Rs 13,95,000
Fund on maturity after 15 years: Rs 25,22,290
Interest benefit: Rs 11,27,290
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How much fund will be generated on maximum deposit
Monthly investment: Rs 12,500
Investment in one financial year: Rs 1.50 lakh
Interest: 7.1% compounded annually
Total investment in 15 years: Rs 22,50,000
Fund on maturity after 15 years: Rs 40,68,209
Interest benefit: Rs 18,18,209
Mutual Fund Return: 5 banking funds that compete with the stock market, money increased 5 times in 10 years, 15 to 18% annual growth in SIP
Completely tax free scheme
Public Provident Fund offers huge tax benefits. This scheme comes under the “EEE” category. In this, you can get tax exemption on deposits up to Rs 1.50 lakh in a financial year. At the same time, there is no tax on the interest received from this, while the amount received on maturity is also out of the scope of tax. Depositors can take a loan (up to 25%) on the balance in their PPF account after the end of one year from the end of that financial year. Apart from this, if you repay the loan within 36 months, then only 1 percent interest will be charged every year on the loan taken.
(Source: India Post, PPF Calculator)
