PPF Calculator

The PPF Calculator estimates how much your Public Provident Fund will grow to at maturity. PPF is a popular long-term savings scheme in India offering tax-free returns and government backing.

PPF Calculator

Currency
$
%
years

What the result means

PPF compounds interest monthly on the balance. The maturity value combines your total deposits with the compounded interest. PPF interest is tax-free, making it a powerful long-term savings tool.

How to use this calculator

  1. 1Enter your monthly PPF deposit in rupees.
  2. 2Enter the current PPF interest rate (set quarterly by the government).
  3. 3Enter the number of years you plan to invest.
  4. 4Press Calculate to see the maturity value, total deposited, and interest earned.
  5. 5Adjust the inputs to compare different contribution amounts.

The formula

The calculation uses a standard, verifiable formula. Here it is in its simplest form.

Maturity = Monthly × [((1 + r)^n − 1) / r] × (1 + r) Where: r = monthly rate (annual ÷ 12 ÷ 100) n = number of months

What each variable means

SymbolNameDescription
MMonthly depositHow much you deposit each month (min ₹500, max ₹1.5 lakh/year).
rMonthly rateThe PPF interest rate divided by 12 and 100.
nMonthsThe investment period in months.

Step-by-step example

Example: ₹10,000/month at 7.1% for 15 years

Monthly deposit:₹10,000PPF rate:7.1%Years:15
  1. 1Monthly rate = 7.1% ÷ 12 = 0.592% = 0.00592
  2. 2Months = 15 × 12 = 180
  3. 3Total deposited = 10,000 × 180 = ₹18,00,000
  4. 4Maturity ≈ ₹32,00,000
  5. 5Interest earned ≈ ₹14,00,000

Result

≈ ₹32 lakh maturity

What changes the result

  • PPF has a 15-year lock-in period, extendable in blocks of 5 years.
  • Interest is compounded annually but calculated monthly.
  • PPF is EEE (Exempt-Exempt-Exempt) — deposits, interest, and maturity are tax-free.
  • The interest rate is reviewed quarterly by the government.

Edge cases to be aware of

Unusual situations handled correctly

  • Minimum annual deposit is ₹500; maximum is ₹1.5 lakh.
  • If the rate is 0%, maturity equals total deposits.
  • Partial withdrawals are allowed from year 7 under certain conditions.

Common mistakes

Avoid these errors

  • Using the annual rate directly instead of dividing by 12.
  • Exceeding the ₹1.5 lakh annual deposit limit.
  • Assuming the current rate will stay constant for 15+ years.

Assumptions

  • The interest rate is constant over the investment period.
  • Deposits are made at the beginning of each month.
  • No partial withdrawals are made.

Limitations

  • The actual PPF rate changes quarterly.
  • Does not account for partial withdrawals or loan facilities.
  • This is an estimate for planning, not a guarantee.

Frequently asked questions

What is the current PPF interest rate?+
The PPF rate is set quarterly by the government. It has historically ranged from 7.1% to 8.7%. Check the latest rate before calculating.
Is PPF tax-free?+
Yes. PPF follows the EEE model — your deposits are tax-deductible (up to ₹1.5 lakh under Section 80C), the interest earned is tax-free, and the maturity amount is tax-free.
Can I withdraw from PPF before 15 years?+
Partial withdrawals are allowed from the 7th year, subject to limits. Full closure is only possible after 15 years, or earlier in specific circumstances like serious illness.

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