Maturity Amount
0
Invested Amount
Interest (Total)
Open Free Demat Account with Angel One
With Zero Brokerage on Equity Delivery
What Is the Bank of Maharashtra PPF Calculator?
A Public Provident Fund (PPF) is a government-backed investment scheme in India that offers attractive interest rates, tax benefits, and opportunities for long-term wealth accumulation. It has gained immense popularity due to its low-risk nature and the guarantee of preserving the principal amount. You can invest a minimum of Rs. 500 and a maximum of Rs. 1.5 lakh annually, with a lock-in period of 15 years.
However, to understand if it is a good idea to invest in PPF, you must calculate the returns beforehand. A PPF calculator can help you do so.
When opting to open a PPF account with the Bank of Maharashtra, you can calculate your PPF returns using the Angel One Bank of Maharashtra PPF calculator. This will enable you to determine whether it is a viable investment option for you. You can also ascertain the right investment amount based on your financial goals and budget.
The calculator takes into account the amount invested annually, the prevailing interest rate, and the investment duration (minimum 15 years) to provide an accurate projection of returns.
How Does the Bank of Maharashtra PPF Calculator Work?
The Angel One Bank of Maharashtra PPF calculator helps you determine the returns on your PPF account by taking into account factors such as yearly investment amount, interest rate, and tenure. Remember that the interest rate is predetermined by the government every quarter.
The online Bank of Maharashtra PPF calculator will already have the prevailing interest rate keyed in. Since your PPF matures only after a tenure of 15 years, the duration will be 15 years unless you choose to increase it, which is possible in blocks of 5 years. So, once you enter the annual investment amount, the online PPF calculator will instantly estimate the interest you will earn and the value upon maturity.
What Is the Bank of Maharashtra PPF Calculator Formula?
The Bank of Maharashtra PPF calculator formula is given below.
F = P [({(1+i) ^n}-1)/i]
- Where,
- F is the maturity value of the PPF
- P is the annual instalments
- i is the interest rate
- n is the number of years
How To Use the Bank of Maharashtra PPF Calculator Online?
Listed below are the steps you must follow to use the Angel One Bank of Maharashtra PPF calculator:
- Visit Angel One and navigate to the online Bank of Maharashtra PPF calculator
- Enter your annual investment amount. Remember, it cannot exceed Rs. 1,50,000 per year
- You can’t change the PPF interest rate since it’s fixed so you cannot modify the field
- Moreover, PPF matures after the completion of 15 years. Partial withdrawal is allowed only after the completion of 7 years
Once you enter the required variables, the Bank of Maharashtra PPF calculator will instantly display your investment's maturity amount and the interest you will earn.
Here’s an example to help you understand the calculation better. Suppose you want to invest Rs. 12,000 yearly in a PPF. Considering the duration as 15 years, and the interest rate is 7.1% p.a, the maturity value of your investment will be Rs. 3,25,457. The total interest will amount to Rs. 1,45,457.
Benefits of Using the Bank of Maharashtra PPF Calculator
Here are the primary benefits of using the online Bank of Maharashtra PPF calculator:
- Accurate and instant calculations: With the Bank of Maharashtra PPF calculator, you can quickly calculate the potential returns on your PPF investment. By entering the desired deposit amount and tenure, the calculator generates accurate projections, allowing you to assess the growth of your savings over time.
- Time-saving and convenience: The Bank of Maharashtra PPF calculator can save you the time and effort you would otherwise spend calculating the returns manually. You can access this tool anytime, anywhere. This convenience lets you plan your investments at your own pace without the hassle of visiting a bank branch.
- Flexibility in investment planning: The online Bank of Maharashtra PPF calculator allows you to explore different scenarios and investment options. You can assess the impact of varying deposit amounts and durations on your savings. This flexibility lets you customise your investment strategy according to your financial preferences.
- Free to use: The Bank of Maharashtra PPF calculator on Angel One is free to use.
FAQs
What is the Bank of Maharashtra PPF calculator?
The Bank of Maharashtra PPF calculator helps you estimate the potential returns on your investment in a PPF account. It calculates the maturity amount and interest earned based on the investment amount, duration, and current interest rate. Using the calculator, you can understand how your investment will grow and make informed financial decisions.
How to use the Bank of Maharashtra PPF calculator online?
You can access the Bank of Maharashtra PPF calculator via Angel One. Enter the yearly investment amount and tenure (if greater than 15 years). You don’t have to specify the interest rate since it is predetermined. The PPF calculator will instantly calculate the maturity value based on these factors.
Is the Bank of Maharashtra PPF calculator free to use?
Yes. The Angel One online Bank of Maharashtra PPF calculator is free to use. You can access the calculator anytime and anywhere.
What is the tenure of PPF?
The tenure of a PPF account spans a period of 15 years. Individuals, however, can extend the PPF account for additional 5-year blocks, provided they make this decision within 1 year of the account's maturity.
What is the PPF interest rate?
The Ministry of Finance determines the interest rate for PPF accounts every quarter.
Is PPF taxable at maturity?
No, the maturity amount received from a PPF account does not attract any taxes. This is why several investors prefer it for long-term wealth accumulation.
