Bank of India's Public Provident Fund (PPF) scheme is a great investment which provides great return, and it is with tax benefits. You can invest from Rs. 500 to maximum Rs. 1,50,000 in one financial year. PPF account has 15 years locking period, however anyone can partially withdraw from seventh year and onward.
Bank of India's PPF Calculator
How to use above Bank of India's PPF return calculator?
About Bank of India
Bank of India is commercial bank with headquarters in Mumbai, Maharashtra, India. Founded in 1906, it has been government-owned since nationalisation in 1969. (Source: wikipedia)
Bank of India PPF Interest Rate
Interest rate on PPF account in Bank of India is no different to all other bank and post office's rate. Current (FY16-17) interest rate for Bank of India's PPF Account is 8.1%
How to use above Bank of India PPF Return Calculator?
We provide different ppf calculation modes, which are
- Fixed yearly amount
- Fixed monthly amount
- Variable yearly amount
- Variable monthly amount
Fixed yearly amount: If you want quick estimate of how much return should i earn if i invest x amount of money every year for next 15 years you can use this mode.
Fixed monthly amount: If you want quick estimate of how much return should i earn if i invest x amount of money every month for next 15 years you can use this mode.
Variable yearly amount: In most of cases we don't invest same amount of money every year. If you select this mode, you will be able enter different money for each year. Also you can assume/estimate how much rate of interest should be there in future (This is great add-on).
Variable monthly amount: This is very advanced and detailed level of calculation. Here you can estimate your return maturity amount by providing detailed month wise investment.
We provide one more feature, which is you can select your investment starting year. There are two main benefit of this tool
- You'll know maturity date of your investment. You'll also get information of how much you'll earn after this amount of time, so if you have partial withdrawal in your mind you can plan better.
- PPF interest rates changes year to year. So for folks who have invested earlier need to just select starting year, and their maturity amount is calculated with used of proper interest rate.
How to calculate Bank of India PPF maturity amount for 20, 25 or 30 years?
PPF amount maturity locking period is 15 years. After 15 years your PPF deposit is matured, now if you wish to continue ppf scheme for another 5 years you can do that. In that case your total locking period will become 20 years. Same way by extending locking period to 5 years more it becomes 25 and 30 years. Daily tools provides way to calculate maturity amount for 20, 25 or 30 years. Let's see how you can do that
PPF Calculator for 20 years Just select maturity duration to 20 years and perform calculation.
PPF Calculator for 25 years Just select maturity duration to 25 years and perform calculation.
PPF Calculator for 30 years Just select maturity duration to 30 years and perform calculation.