HDFC PPF Calculator
HDFC Public Provident Fund (PPF) is a Government-Backed Scheme launched by the National Savings Institute. Interest rates on PPF is announced every quarter by the Ministry of Finance. Estimate Interest and wealth accumulated on HDFC PPF account using HDFC PPF Calculator
Mutual Funds better than PPF
Investing in ELSS funds recommended by Scripbox would get you returns of 12% p.a
Here are the shortlisted funds by Scripbox
What is the HDFC Public Provident Fund (PPF)?
HDFC Public Provident Fund scheme is a popular investment scheme that allows investors to maintain a retirement corpus by contributing towards the account either by making monthly or lump-sum payments. HDFC PPF scheme has a mandatory lock-in period of 15 years during which the investors cannot close their accounts. However, partial withdrawals are allowed from the 7th year subject to certain conditions.
With the attractive interest rate that it offers, along with the tax benefits under section 80C of the Income Tax Act, PPF has become a safe-haven for investors. Furthermore, investors allowed the facilities of loans, an extension of account in blocks of 5 years, etc.
HDFC PPF Interest Rate 2023
The current HDFC bnak PPF account interest rate is 7.10% p.a. December 2023 and paid on the amount standing in the investor’s account. HDFC PPF rate of interest is reviewed by the Ministry of Finance, Government of India every quarter and over the past several years the return has been witnessing a downtrend.
As per PPF rules, the interest is calculated on a monthly basis but is credited to the HDFC PPF account at the end of the year on March 31st. PPF interest is compounded annually at the prevalent PPF interest rate of return
Explore PPF Interest Rate 2023
How to Use the HDFC PPF Calculator?
Our HDFC PPF account calculator is an online tool that provides an estimate of interest earned, maturity value for a given amount invested and investment period. An estimation of the total corpus created at the end of the investment period helps you know whether the investment option chosen matched with your financial goal or not.
Steps to use the online PPF Calculator HDFC:
- Visit our website.
- Enter the amount to be invested.
- Enter the period of PPF investment.
Once the above details are entered, the HDFC PPF calculator will provide you with the total corpus created at the end of the investment period.
Mrs. Aditi wants to estimate the maturity amount for his yearly investment of Rs 12,500 per year for 15 years
She can quickly get an estimate by using our HDFC PPF calculator 2023. The estimated maturity amount is Rs 43,98,642 and the wealth gained is Rs 21,48,642.
How Does the HDFC PPF Calculator Help You?
PPF scheme calculator is a simple and handy tool that helps you calculate PPF returns you can earn by making a contribution towards PPF.
As per PPF rules, the investors can make an investment of a minimum Rs. 500 and up to a maximum of Rs. 1,50,000 in a year and claim the tax benefits for the same.
The investment can be made either monthly or in a lump sum. HDFC PPF calculator helps you calculate PPF estimated returns according to the amount invested by you and the lock-in period selected by you.
Below are a few benefits of the HDFC PPF calculator:
- Enables you to evaluate various cases with the change in investment amount.
- Shows you the total invested amount according to the tenure.
- It shows you the total interest earned after maturity.
- Displays the total amount you will receive after the account matures
Check Out How to Open PPF Account in HDFC?
Frequently Asked Questions
As per PPF rules, one cannot open more than one PPF account and if someone still goes ahead and opens another account, he or she will not be eligible for any interest in the second account.
Once the maturity period of 15 years expires, investors can partially withdraw the money from their PPF account. The amount standing to the credit of the account, including interest will be paid to the investors in their desired bank account.For making the partial withdrawal, Form C is required to be filled completely and submitted to the concerned branch where your PPF account lies.
The minimum and maximum investment in PPF account are Rs 500 and Rs 1,50,000 respectively in a financial year for claiming income tax benefit. Investments can be made twice a month but for computing the deduction under section 80C of the Income Tax Act, only 1,50,000 will be considered. However, it is beneficial to make the investment before the 5th of the month in order to claim the interest for the full month.
Investments in PPF can be made either monthly or lump-sum. Investing a fixed amount monthly makes a strong disciplined habit and is also not heavy on the pocket. However, it is advisable to deposit the amount before the 5th of the month to claim the interest benefit for the entire month.