BOB PPF Calculator
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What is Bank of Baroda PPF Calculator?
BOB PPF Calculator helps in estimating PPF returns. You can determine the potential returns of a Bank of Baroda PPF account by entering data inputs such as the yearly investment amount and duration of the investment. The calculator computes potential returns based on the given inputs. Also, it helps to determine the potential wealth gain through PPF investments. Therefore, the Bank of Baroda PPF calculator automatically computes the maturity amount and also the wealth gained from the PPF investment.
BOB PPF Calculator Requirement
The Bank of Baroda PPF calculator requires the following inputs.
- Yearly Investment: The amount you wish to invest in a BOB PPF account in a year. The minimum investment amount for a PPF account is Rs. 500 and a maximum of up to INR 1.5lakhs in a year.
- Duration of Investment (in years): 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, and there is no limit on extension.
- 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) and this automatically appears in the Scripbox calculator. Moreover, Scripbox updates the BOB PPF calculator with the current interest rates from time to time.
BOB PPF Maturity Value Calculation
With the given inputs, the Bank of Baroda 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 BOB PPF investments.
How to use the Bank of Baroda PPF Calculator?
Scripbox’s BOB 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 to determine the potential returns from PPF investments.
- Next, you have to enter the amount you want to invest and the investment duration.
- After entering the details, 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 PPF Calculator with the help of an example. Ms Reshma would like to determine her potential returns from BOB PPF investments. The yearly investment amount she wishes to invest is INR 1,50,000 and for a tenure of 20 years. The current PPF interest rate is 7.1% for FY 2022-23 Q1 (April 2022 – June 2022).
The BOB PPF calculator estimates the following based on the above inputs:
- Total Investment: INR 30,00,000
- Wealth gained: INR 36,58,288
- Maturity value: INR 66,58,288
Therefore, Ms Reshma’s potential return from BOB PPF investment is INR 66,58,288 by the end of her investment tenure.