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Axis PPF Calculator

₹
Yr
Rate of interest p.a
7.1%
Total invested₹ 75,000
Total interest₹ 60,607
Maturity value₹ 1,35,607
Invested amountTotal returns

The Axis Public Provident Fund (PPF) calculator is a great tool to help you calculate the returns on your investment in PPF. The calculator lets you calculate the maturity amount and the interest earned in a few clicks.

PPF is one of India's most popular tax-saving investment instruments available for retail investors. The government of India launched the scheme. It offers guaranteed returns. Also, PPF falls in the Exempt-Exempt-Exempt (EEE) category, meaning the investment amount, the interest earned, and the maturity amount are all tax-free.

How Does The Axis PPF Calculator Work?

The calculator uses the below formula to calculate your maturity amount.

M = P [(1 + i)^n - 1) / i] x (1 + i)

Where:

M is the maturity amount
P is the annual contribution
i is the annual rate of interest
n is the number of years

Example:

You are planning to invest ₹50,000 every year in a PFF scheme for 20 years. You wish to know how much you would earn at the end of 20 years. Here's how we can calculate that:

Converting the interest rate, i = 7.1/100 = 0.071

M = P [(1 + i)^n - 1) / i] x (1 + i)
M = 50,000 x [(1 + 0.071)^20 - 1) / 0.071] x (1 + 0.071)
M = ₹22,19,429

If you invest ₹50,000 every year in PPF and continue investing for 20 years, you will earn a maturity amount of over ₹22 lakhs.

How Should You Use The Axis PPF Calculator?

The PPF calculator is easy to use and can be used by beginners and seasoned professionals. Here's a step-by-step explanation of using the calculator in the right way.

Step 1: Type in the amount you wish to invest in PPF every year.
Step 2: Key in the number of years you will stay invested in the scheme.

The interest rate will remain fixed i.e. 7.1%. When you enter the details, the calculator will show you the total investment amount, the total interest earned, and the maturity amount.

Example:

Ms Shelly is planning to invest ₹1,10,000 every year in a PPF scheme. She is planning to invest for 30 years. Let's calculate how much she can earn using the calculator formula.

Converting the interest rate, i = 7.1/100 = 0.071

M = P [(1 + i)^n - 1) / i] x (1 + i)
M = 1,10,000 [(1 + 0.071)^30 - 1) / 0.071] x (1 + 0.071)
M = ₹1,13,30,668

If Ms Shelly invests ₹1.1 lakhs for a period of 30 years, she would earn a maturity amount of over ₹1.13 crores at the end of her investment tenure.

What Are The Benefits Of Axis PPF Calculator?

These are the benefits of using the Axis PPF calculator.

  • The PPF calculator makes goal planning much easier as it will tell how much returns you will make even before investing.
  • The calculator can be used for free unlimited times.
  • The calculator gives you error-free results every single time.
  • The calculator helps you avoid making complicated calculations manually.
  • The calculator allows you to experiment with different contribution amounts, helping you choose the investment amount that helps you achieve the desired corpus.

Axis PPF Calculator - Frequently Asked Questions (FAQs)

What is the PPF interest rate in 2024?
The PPF interest rate for the current year is 7.1%.
Can I make partial withdrawals from my PPF investment?
Yes. You can make partial withdrawals under the PPF account after the completion of 5 years after account opening.
What are the tax benefits of PPF?
The PPF account offers tax deductions of up to ₹1.5 lakhs of the invested amount. It follows the EEE (Exempt-Exempt-Exempt) model of taxation, which implies that both interest earned and the maturity amount are exempted from taxes.