PPF Calculator 2024 - Public Provident Fund Calculator
Calculate returns on Public Provident Fund (PPF) investments with current 7.1% interest rate
Plan your tax-free retirement corpus with our comprehensive PPF calculator. Calculate maturity amount, partial withdrawal, loan eligibility, and extension scenarios for 15-year PPF investment.
PPF Investment Details
Min: ₹500, Max: ₹1,50,000 per year
PPF available for individuals aged 18-65
Current PPF rate: 7.1% (as of 2024)
Lump sum at year start gives maximum returns
PPF Key Features
- • 15-year lock-in period
- • Tax-free returns (EEE status)
- • Loan facility after 6 years
- • Partial withdrawal after 7 years
- • Extension in blocks of 5 years
Enter your investment details to calculate PPF returns
PPF Benefits & Features
Triple Tax Benefit (EEE)
- • Investment deduction under Section 80C
- • Tax-free interest accumulation
- • Tax-free maturity proceeds
Loan & Withdrawal
- • Loan up to 25% after 6 years (at 6% interest)
- • Partial withdrawal after 7 years (up to 50%)
- • Medical emergency withdrawals allowed
Extension Options
- • Extend in blocks of 5 years after maturity
- • Continue earning interest without contributions
- • Or continue with contributions
PPF Rules & Limits
Investment Limits
Minimum: ₹500 per year
Maximum: ₹1,50,000 per year
Can invest monthly or lump sum
Interest Rate
Current: 7.1% per annum
Compounded annually
Rate reviewed quarterly by government
Account Rules
Only one account per person
Parents can open for minors
Nominee facility available
Premature Closure
Allowed after 5 years in exceptional cases
Interest rate reduced by 1%
Tax benefits may be reversed
Historical PPF Interest Rates
| Year | Interest Rate | Year | Interest Rate |
|---|---|---|---|
| 2024 | 7.1% | 2020 | 7.1% |
| 2023 | 7.1% | 2019 | 7.9% |
| 2022 | 7.1% | 2018 | 7.6% |
| 2021 | 7.1% | 2017 | 7.8% |
Complete Guide to Public Provident Fund (PPF) 2024
Everything you need to know about PPF investment, benefits, rules, and strategies
What is Public Provident Fund (PPF)?
The Public Provident Fund (PPF) is a government-backed long-term savings scheme that offers attractive returns with complete tax exemption. Launched in 1968 by the National Savings Institute of the Ministry of Finance, PPF is one of the most popular investment options in India for building a retirement corpus.
PPF combines the benefits of tax savings, guaranteed returns, and long-term wealth creation. With its 15-year lock-in period and current interest rate of 7.1% per annum (compounded annually), PPF provides a secure way to build substantial wealth while enjoying complete tax exemption under the EEE (Exempt-Exempt-Exempt) status.
🛡️ Government Guarantee
Backed by Government of India with sovereign guarantee
💰 Tax-Free Returns
Complete tax exemption on investment, interest, and maturity
📈 Attractive Returns
Current rate of 7.1% compounded annually
PPF Eligibility and Account Opening Process
Who Can Open PPF Account?
- ✓Indian Residents: Any Indian resident individual can open PPF account
- ✓Age Limit: No minimum or maximum age limit for account opening
- ✓Minor Accounts: Parents/guardians can open account for minors
- ✓Single Account: Only one PPF account per individual allowed
- ✗NRIs: Non-resident Indians cannot open new PPF accounts
- ✗HUFs: Hindu Undivided Family cannot open PPF accounts
Required Documents
KYC Documents
- • Aadhaar Card (mandatory)
- • PAN Card
- • Passport size photographs
- • Address proof (Voter ID, Driving License, etc.)
Where to Open
- • All nationalized banks
- • Selected private banks (ICICI, Axis, HDFC)
- • India Post offices
- • Online through bank websites
PPF Investment Rules and Limits 2024
Investment Limits
Minimum: ₹500 per financial year
Maximum: ₹1,50,000 per financial year
Multiple: Any amount in multiples of ₹50
Investment Frequency
Maximum Deposits: 12 deposits per year
Lump Sum: Can invest entire ₹1.5L at once
Monthly: ₹12,500 per month maximum
Timing: Before 5th of month to earn full month interest
Penalty Rules
Default Penalty: ₹50 per year if minimum not deposited
Account Revival: Pay penalty + minimum ₹500 to revive
Dormant Account: No interest earned during default period
PPF Interest Calculation
Interest is calculated on the lowest balance between 5th and last day of the month. Deposits made after 5th don't earn interest for that month.
PPF Tax Benefits - Triple Exemption (EEE Status)
Investment Exemption
PPF investment qualifies for tax deduction under Section 80C
Up to ₹1,50,000
Annual deduction limit
Interest Exemption
Annual interest earned is completely tax-free
0% Tax
On yearly interest
Maturity Exemption
Entire maturity amount is tax-free
0% Tax
On maturity corpus
Tax Savings Example
Annual Investment: ₹1,50,000
Over 15 Years (30% slab)
Frequently Asked Questions (FAQ) about PPF
🤔 What is the current PPF interest rate in 2024?
The current PPF interest rate for 2024 is 7.1% per annum, compounded annually. This rate is declared by the Government of India quarterly and has remained stable at 7.1% since 2020.
Note: PPF interest rates are reviewed quarterly but typically remain stable for longer periods.
💰 What is the maximum amount I can invest in PPF per year?
You can invest a maximum of ₹1,50,000 per financial year in PPF. The minimum investment is ₹500 per year. You can make up to 12 deposits in a year in any denomination (multiples of ₹50).
Investment Options:
- • Lump sum: ₹1,50,000 at once
- • Monthly: ₹12,500 per month
- • Quarterly: ₹37,500 per quarter
- • Any frequency up to 12 deposits
Pro Tip:
Investing early in the financial year (by April-May) maximizes interest earnings compared to monthly installments.
🔒 Can I withdraw money from PPF before 15 years?
PPF has a 15-year lock-in period, but there are some withdrawal options available:
Partial Withdrawal (After 7 years)
You can withdraw up to 50% of the balance at the end of 4th preceding year or the end of the preceding year, whichever is lower.
PPF Loan (After 3 years)
You can take a loan up to 25% of the balance at the end of 2nd preceding year at 6% interest rate (1% above PPF rate).
Premature Closure (After 5 years)
Allowed only in exceptional circumstances like serious illness or higher education. Interest rate is reduced by 1% for the entire period.
📈 How much will my PPF grow in 15 years?
The growth depends on your annual investment and the interest rate. Here are some examples:
| Annual Investment | Total Investment | Maturity Value* | Total Interest |
|---|---|---|---|
| ₹50,000 | ₹7,50,000 | ₹13,58,000 | ₹6,08,000 |
| ₹1,00,000 | ₹15,00,000 | ₹27,16,000 | ₹12,16,000 |
| ₹1,50,000 (Max) | ₹22,50,000 | ₹40,74,000 | ₹18,24,000 |
*Assuming 7.1% interest rate throughout 15 years
🏦 Can I have multiple PPF accounts?
No, you cannot have multiple PPF accounts. Only one PPF account is allowed per individual. However, you can open separate accounts for:
- ✓Your minor children (as guardian)
- ✓Your spouse (separate individual account)
Important: If you accidentally open multiple accounts, you must close the duplicate ones. Only the first account will be valid, and others will be closed without interest.
🎯 Who should invest in PPF?
PPF is ideal for:
✅ Perfect For:
- • Conservative investors seeking guaranteed returns
- • People wanting tax-free long-term savings
- • Retirement planning with 15+ year horizon
- • Building children's future corpus
- • Creating emergency fund with loan facility
⚠️ Not Suitable For:
- • Short-term investment needs (<7 years)
- • High-risk, high-return seekers
- • Those needing frequent liquidity
- • Non-resident Indians (NRIs)
- • People in 0% tax bracket
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