SBI PPF Calculator : Check Returns & Maturity of SBI Public Provident Fund
SBI Bank PPF Calculator for Investments. Current PPF Rate is 7.1%, w.e.f 1 st April 2020. Lock-in 15 Years. Calculate how much your PPF contribution would have grown to, using this calculator. Explore other alternatives like ELSS funds and how it impacts the growth of your wealth.
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What is the Public Provident Fund (PPF)?
Public Provident Fund (PPF) is a long-term investment saving scheme that offers several benefits to investors like Government-backed returns, benefits under the Income Tax Act, loan facility, partial premature withdrawal, etc. Investors use it to build their retirement corpus by contributing a fixed amount every month or in lump-sum.
PPF works on an Exempt-Exempt-Exempt (EEE) tax-saving model. The contribution made by the investors is allowed as a tax deduction under section 80C of the Income Tax Act. Furthermore, the interest earned and the maturity proceeds are also exempt from tax at the time of withdrawal.
Opening a PPF account is easy and account opening facility is provided by nationalized banks, post offices, few private banks, and its branches
PPF saving scheme has a mandatory lock-in period of 15 years and the account cannot be closed during this time. However, partial withdrawals are allowed from the 4th year subject to certain conditions. An investor must ensure the KYC is completed by submitting documents required for identity proof such as aadhar card, PAN card etc
SBI PPF interest rate 2021
The PPF account interest is paid on the amount standing in the investor’s account. The 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.
Below is a table summarizing the PPF rate of returns history:
|Year||Time Period||Return (per annum|
|2020-2021||April 2020 – June 2020||7.1%|
|2019-2020||January 2020 – March 2020||7.9%|
|2019-2020||October 2019 – December 2019||7.9%|
|2019-2020||July 2019 – September 2019||7.9%|
|2019-2020||April 2019 – June 2019||8.0%|
|2018-2019||January 2019 – March 2019||8.0%|
|2018-2019||October 2018 – December 2018||8.0%|
|2018-2019||July 2018 – September 2018||8.0%|
|2018-2019||April 2018 – June 2018||7.6%|
|2017-2018||January 2018 – March 2018||7.6%|
|2017-2018||October 2017 – December 2017||7.8%|
|2017-2018||July 2017 – September 2017||7.8%|
|2017-2018||April 2017 – June 2017||7.9%|
|2016-2017||October 2016 – March 2017||8.0%|
|2016-2017||April 2016 – September 2016||8.1%|
|2015-2016||April 2015 – March 2016||8.70%|
|2014-2015||April 2014 – March 2015||8.70%|
|2013-2014||April 2013 – March 2014||8.70%|
|2012-2013||April 2012 – March 2013||8.80%|
How to use SBI PPF Calculator?
Our SBI 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 SBI PPF returns calculator:
- Visit our website.
- Enter the amount to be invested.
- Enter the period of investment.
- Once the above details are entered, the SBI PPF returns calculator will provide you the total corpus created at the end of the investment period.
Mr. Arun wants to estimate the maturity amount for his yearly investment of Rs 25,000 for 15 years
He can quickly get an estimate by using our SBI PPF calculator 2020. The estimated maturity amount is Rs 733,107 and wealth gained is Rs 3,58,107
SBI PPF Investment Schedule
Below is the PPF schedule that an SBI PPF account plan calculator shows of opening balance, amount deposited, interest earned and closing balance if you invest Rs. 1,50,000 yearly for 15 years (assuming interest rate to be 7.9%)
|Year||Opening Balance (Rs)||Amount deposited (Rs)||Interest earned (Rs)||Closing balance (Rs)|
How the SBI PPF calculator helps you?
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. SBI PPF calculator helps you to estimate the returns according to the amount invested by you and the lock-in period selected by you. Accordingly
Below are a few benefits of the SBI 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.
What are the alternatives to PPF?
An investor must analyze the alternatives to the PPF scheme and choose the option that suits his investment goals. The investment goals which can be either long term like 15 years or short term say 5 years for a given lock-in period and returns expected
There are few alternative investment options like tax saving Bank FD, recurring deposits, ULIP, NSC, NPS, senior citizens savings schemes
Below is a comparison of all investment options.
|Scheme Plan||Lock-in period||Interest Rate||Tax Implication|
|Equity Linked Savings Scheme (ELSS)||3 years||12% annually (historical). Subject to market movements||Principal amount- 80C deduction Interest- 10% LTCG Dividend- 10% DDT|
|National Savings Certificate (NSC)||5 years||6.8 % p.a. (Compounded Annually)||Deduction on a deposit made up to Rs 1.5 lakh Interest- Taxable at income tax slab rates subject to annuity|
|Unit Linked Insurance Plan (ULIP)||5 years||Subject to ULIP fund performance in the market||Principal amount- 80C deduction Interest-Tax-free|
|National Pension Scheme (NPS)||3 years||12% – 14%, depends on the type of scheme||Principal amount- 80C deduction Interest-Tax-free|
|Tax Saving Bank FD||5 years||Average FD Rates are 6.7%, FD rates differs bank to bank||Principal amount- 80C deduction Interest- Taxable|
|Recurring Deposits||6 months to 10 years||Average Deposit rates are 7%, Deposit rates differ bank to bank||Interest Earned taxable at applicable income tax slabs|
|Senior Citizens Savings Schemes (SCSS)||5 years||Low||7.40%|
Should you invest in a Public Provident Fund or Fixed Deposits?
Both the investment options differ substantially, and has their own set of benefits and features
- The lock-in period is 15 years. Bank FD tenure ranges from 12 to 60 months. Bank FD provides a flexibility to choose the investment period.
- The PPF interest rate is set by the Government and Bank FD rates are set by the individual bank or NBFC. Bank FD rates is different for a regular investor and a senior citizen investor
- Average FD interest rate can be up to 7% depending on the bank, tenure and regular investor v/s senior investor.
When it comes to flexibility, FD interest rate, lock-in period, fixed deposit provides a better investment option. However, that depends on the investment goal, financial objective and investor’s preference
Frequently Asked Questions
To check your EPF balance, the account holder must have an internet or mobile banking activated for your saving account. The account holder can view the EPF balance by simply logging into your saving account.
SBI PPF calculator is an online tool that helps you in estimating the returns on the basis of the minimum amount invested. It shows the total investment made, interest earned and the maturity amount at the end of the maturity period. You need to submit the documents required for your address proof and identity proof like aadhar card, PAN card etc
PPF scheme falls under the EEE (Exempt, Exempt, Exempt) tax exemption category. This means a contribution made is allowed as a tax deduction under section 80C of the Income Tax Act. The interest earned thereon is exempt under section 10(11) of the Act. You can use Scripbox’s Income Tax Calculator to estimate your total taxable income after claiming tax exemption of PPF investment
Investors can avail loans against PPF accounts between the 3rd and 6th financial years from the date the account was started. Partial PPF withdrawal is allowed subject to certain conditions.
It depends on the amount invested by you, period of investment and the rate of interest. SBI PPF calculator will help you evaluate various options and display the results with various investment options.
SBI PPF account comes with a mandatory lock-in period of 15 years. Partial PPF withdrawal is allowed subject to certain conditions but closing the account completely is not allowed before the completion of maturity period.
It is a long-term investment option which helps the investors to maintain a retirement corpus and also provides tax benefits under section 80C of the Income Tax Act. However, it is not mandatory to make investments in PPF scheme
You can make an investment in the PPF account either monthly or a lump sum amount. In order to claim the full interest and high PPF maturity, it is required to make the investment before 5th of the month
PPF scheme and Sukanya Samriddhi Yojana, both are government investment schemes meant for long-term investments. Both schemes have similarity w.r.t. Long term options, tax exemptions and backed by the Government. There is a basic difference between both schemes. SSY is meant for securing your girl child’s future and PPF is meant to build your retirement corpus