Bank of India PPF Calculator
What is Bank of India PPF Calculator?
Bank of India PPF Calculator helps in estimating PPF returns. You can determine the potential returns of a Bank of India PPF account by entering data inputs such as the yearly investment amount and duration of the investment. Therefore, the BOI PPF calculator automatically computes the maturity amount and also the wealth gained from the PPF investment.
Bank of India PPF Calculator Requirement
The Bank of India PPF calculator requires the following inputs.
- Yearly Investment: The amount you wish to invest in a BOI PPF account in a year.
- Duration of Investment (in years): A PPF account has a 15 years lock-in period and can be extended for a block of five years.
- Interest Rate: The current Bank of India PPF interest rate is 7.1%.
BOI PPF Maturity Value Calculation
With the given inputs, the BOI PPF calculator determines the following values:
- Total Investment: Sum of all investments until the end of the PPF investment tenure.
- Wealth Gained: The total interest earned during the PPF investment tenure.
- Maturity Amount: The maturity amount is the total amount you can expect from your BOI PPF investments.
How to use the Bank of India PPF Calculator?
Scripbox’s BOI PPF calculator is available online and is free to use. You can determine the potential PPF returns through this calculator by following steps.
- Firstly, visit the Scripbox website
- Next, enter the investment amount and the investment duration.
- Finally, the BOI PPF calculator will calculate the total corpus created.
Let us understand how to use Scripbox’s PPF Calculator with the help of an example. Ms Shreena is willing to make a yearly investment amount of INR 1,50,000 and for a tenure of 15 years. The current PPF interest rate is 7.1% for FY 2022-2023 Q1 (April 2022 – June 2022).
- Total Investment: INR 22,50,000
- Wealth gained: INR 18,18,209
- Maturity value: INR 40,68,209
Therefore, Ms Shreena’s potential return from BOI PPF investment is INR 40,68,209 by the end of her investment tenure.
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