Axis Bank PPF Calculator
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What is Axis Bank PPF Calculator?
Axis Bank PPF calculator helps in estimating PPF returns. You can determine the potential returns of an Axis Bank PPF account by entering data inputs such as the yearly investment amount and duration of the investment. On the basis of the given inputs, the calculator computes potential returns. It helps to determine the potential wealth gain through PPF investments. Therefore, the calculator automatically computes the maturity amount and also the wealth gained from the PPF investment.
Axis Bank PPF Calculator Requirement
The PPF calculator requires the following inputs.
- Yearly Investment: The amount you wish to invest in an Axis Bank PPF account in a year. You can start with a minimum investment amount of Rs. 500 in a year and a maximum up to Rs. 1.5lakhs in a year.
- Duration of Investment (in years): It is the PPF investment period. A PPF account has a 15 years lock-in period. Also, if you wish to extend the investment, you can do so by a block period of five years each time.
- Current Interest Rate (%): PPF interest rates are announced every quarter. The current PPF interest rate is 7.1% for FY 2022-23 Q1 (April 2022 – June 2022) which automatically appears in the Scripbox calculator. Moreover, Scripbox updates the Axis Bank PPF calculator with the current interest rates from time to time.
Axis Bank PPF Maturity Value Calculation
With the given inputs, the PPF calculator determines the following values:
- Total Investment: It is the sum of all the investments until the end of the investment tenure.
- Wealth Gained: It is the total amount gained during the PPF investment tenure.
- Maturity Amount: The maturity amount is the total amount you can expect from your Axis Bank PPF investments.
How to use the Axis Bank PPF Calculator?
Scripbox’s Axis Bank PPF calculator is available online and is free to use. You can determine the potential PPF returns using this calculator by following steps.
- Firstly, you need to visit the Scripbox website to determine the potential returns from PPF investments.
- Next, you have to enter the amount to be invested and the investment duration.
- After the details are entered, the BOB PPF calculator will provide the total corpus created at the end of the investment period.
Let us understand how to use Scripbox’s Axis Bank PPF Calculator with the help of an example. Ms Dolly would like to determine her potential returns from Axis Bank PPF investments. The yearly investment amount she wishes to invest is INR 1,50,000 and for a tenure of 15 years. The current PPF interest rate is 7.1% for April 2022 – June 2022 Quarter.
The Axis Bank PPF calculator estimates the following based on the above inputs:
- Total Investment: INR 22,50,000
- Wealth gained: INR 18,18,209
- Maturity value: INR 40,68,209
Therefore, Ms Dolly’s potential return from Axis Bank PPF investment is INR 40,68,209 by the end of her investment tenure.