PPF Calculator
15-year Public Provident Fund maturity value
Year-wise balance
| Year | Opening | Deposit | Interest | Closing Balance |
|---|---|---|---|---|
| 1 | ₹0 | ₹1,50,000 | ₹10,650 | ₹1,60,650 |
| 2 | ₹1,60,650 | ₹1,50,000 | ₹22,056 | ₹3,32,706 |
| 3 | ₹3,32,706 | ₹1,50,000 | ₹34,272 | ₹5,16,978 |
| 4 | ₹5,16,978 | ₹1,50,000 | ₹47,355 | ₹7,14,334 |
| 5 | ₹7,14,334 | ₹1,50,000 | ₹61,368 | ₹9,25,701 |
| 6 | ₹9,25,701 | ₹1,50,000 | ₹76,375 | ₹11,52,076 |
| 7 | ₹11,52,076 | ₹1,50,000 | ₹92,447 | ₹13,94,524 |
| 8 | ₹13,94,524 | ₹1,50,000 | ₹1,09,661 | ₹16,54,185 |
| 9 | ₹16,54,185 | ₹1,50,000 | ₹1,28,097 | ₹19,32,282 |
| 10 | ₹19,32,282 | ₹1,50,000 | ₹1,47,842 | ₹22,30,124 |
| 11 | ₹22,30,124 | ₹1,50,000 | ₹1,68,989 | ₹25,49,113 |
| 12 | ₹25,49,113 | ₹1,50,000 | ₹1,91,637 | ₹28,90,750 |
| 13 | ₹28,90,750 | ₹1,50,000 | ₹2,15,893 | ₹32,56,643 |
| 14 | ₹32,56,643 | ₹1,50,000 | ₹2,41,872 | ₹36,48,515 |
| 15 | ₹36,48,515 | ₹1,50,000 | ₹2,69,695 | ₹40,68,209 |
| Total | ₹22,50,000 | ₹18,18,209 | ₹40,68,209 |
Understand the result
About the PPF Calculator
What is PPF?
The Public Provident Fund is a 15-year savings scheme backed by the Government of India, available at post offices and authorised banks. You can deposit between ₹500 and ₹1.5 lakh each financial year, and the balance earns a fixed interest rate set by the government every quarter — 7.1% since April 2020. Interest and maturity are completely tax-free.
This PPF calculator shows your maturity amount, total deposits and interest year by year for yearly or monthly deposits, following the actual rule that interest is earned on the lowest balance between the 5th and the end of each month.
How this calculator works
The Public Provident Fund is a 15-year government-backed savings scheme. Interest is calculated on the lowest balance between the 5th and the last day of each month, and credited once a year on 31 March. That rule is why depositing before the 5th of the month matters — a deposit on the 6th earns nothing for that month.
This calculator follows the monthly-minimum-balance rule rather than simple annual compounding, so the yearly figures line up with a real PPF passbook.
PPF is one of the few Exempt-Exempt-Exempt investments left: the deposit is deductible under 80C, the interest is tax-free, and the maturity amount is tax-free too.
Formula
Monthly interest = lowest balance between the 5th and month-end × (rate ÷ 12) Year-end balance = opening + deposits + total interest for the year (credited on 31 March)
Worked example
- ₹1,50,000 deposited at the start of every year for 15 years at 7.1%.
- Total deposited = ₹22,50,000.
- Maturity is roughly ₹40.7 lakh, of which about ₹18.2 lakh is interest — none of it taxable.
How a ₹1.5 lakh yearly PPF grows
| After | Total deposited | Balance |
|---|---|---|
| 5 years | ₹7,50,000 | ₹9,25,701 |
| 10 years | ₹15,00,000 | ₹22,30,124 |
| 15 years (maturity) | ₹22,50,000 | ₹40,68,209 |
Almost half the maturity value is interest, and the growth accelerates in the later years. That is why extending the account in 5-year blocks after maturity is often worthwhile.
PPF vs other 80C options
| Option | Lock-in | Return | Tax on returns |
|---|---|---|---|
| PPF | 15 years (partial access from year 7) | Fixed, set quarterly | Tax-free |
| ELSS mutual funds | 3 years | Market-linked | 12.5% on long-term gains above ₹1.25 lakh |
| Tax-saver FD | 5 years | Fixed for the term | Taxable at slab |
| NSC | 5 years | Fixed for the term | Taxable at slab |
PPF suits the safe, long-term part of your savings; ELSS suits long-term growth with a shorter lock-in. Under the new tax regime, none of these gets the 80C deduction, but PPF interest stays tax-free.
Assumptions & important notes
What this calculator assumes
- The interest rate stays constant. In practice the government revises it every quarter.
- Yearly deposits are made in the first month of the financial year; monthly deposits on or before the 5th.
- No loans or partial withdrawals are taken against the account.
Important notes
- Minimum ₹500 and maximum ₹1,50,000 per financial year, across all PPF accounts you hold.
- The account matures after 15 full financial years and can be extended indefinitely in 5-year blocks, with or without further deposits.
- Partial withdrawal is allowed from the 7th year, and a loan from the 3rd to the 6th year.
Frequently asked questions
When is the best time to deposit in PPF?
Before the 5th of April if you deposit annually. Interest is calculated on the lowest balance between the 5th and the end of each month, so an early deposit earns a full year of interest.
Is PPF interest taxable?
No. PPF falls under the EEE category — the deposit qualifies for deduction under 80C in the old regime, and both the interest and maturity amount are completely tax-free.
What happens after 15 years?
You can withdraw the entire balance tax-free, or extend in blocks of 5 years. If you extend without fresh deposits, the balance keeps earning interest and you can withdraw once a year.
Can I open PPF accounts for my children too?
Yes, as a guardian, but the ₹1.5 lakh annual limit applies to your own and the minor’s account combined.
Can NRIs invest in PPF?
NRIs cannot open a new PPF account. An account opened while resident can generally be continued until maturity, but check the latest rules with your bank or post office before extending it.
Can I close my PPF account early?
Only after five full financial years, and only for specified reasons such as serious illness, higher education or a change in residency status. Interest is then recalculated at 1% below the applicable rates.
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