ICICI Bank PPF Calculator

What is PPF?

PPF stands for Public Provident Fund, which is a long-term savings-cum-investment instrument predominantly in India, offering tax benefits, safety, and attractive interest rates with returns that are fully exempt from tax. It's a government-backed scheme that encourages small savings and investments with a focus on enabling the general public to create a retirement corpus while saving on annual taxes. The ICICI Bank PPF Calculator helps in the accurate calculation of year-wise returns easily in just the friction of seconds.

How Does ICICI Bank PPF Work?

ICICI Bank's Public Provident Fund (PPF) is a government-backed savings scheme available to Indian residents. It involves opening aPPF account with the bank, where you can deposit anywhere from Rs. 500 to Rs. 1.5 lakh per financial year. The account has a tenure of 15 years, extendable in 5-year blocks, and earns interest at a rate decided by the government, compounded annually. 

Deposits made into the PPF account are eligible fortax deductions under Section 80C, with the interest and maturity proceeds being tax-free. You can take a loan against the PPF balance from the third financial year and make partial withdrawals from the seventh year. ICICI Bank allows for easy management of the PPF account through its online banking services, ensuring convenience and security for your long-term savings.

What is ICICI Bank PPF Calculator and How is it Useful?

ICICI Bank Public Provident Fund Calculator is an easy-to-use online financial tool that helps in the calculation of complex PPF related calculations in just a blink of an eye. ThePPF Calculator helps in calculating the yearly returns that an investor can earn by contributing a fixed amount for a fixed period of time. 

The ICICI Bank PPF Calculator is beneficial to investors in the following mentioned ways:

• Gives you a clear understanding of how much should be invested to achieve the desired outcome.

• Calculates and predicts the total amount an investor will invest till the end of the tenure based on current investments made.

• Calculates the total interest earned at the time of maturity.

• Total amount to be received at the time of maturity.

Illustration to Show How ICICI PPF Calculator Works

Suppose Mr. Rohit invests Rs. 50,000 for 15 years in the ICICI Bank PPF Account. The following table shows the total interest receivable by Mr. Rohit and the loan and withdrawal amount eligibility related to the investment.
**Note: the interest rate considered while calculating PPF returns is 7.9%

How to Use Policybazaar’s PPF Calculator? 

To use Policybazaar's PPF Calculator, follow these simple steps:

• Enter the amount you wish to invest each month.

• ThePPF interest rate should typically be pre-entered in the calculator.

• Specify the duration of your investment in the PPF account.

• The calculator will immediately provide you with the total amount invested, the interest accrued so far, and the total amount you will receive upon maturity.

You can also explore otherinvestment plans available on Policybazaar to find options that offer good returns.

Advantages of Policybazaar’s ICICI Bank PPF Calculator

Some of the advantages of using an ICICI Bank PPF Calculator are:

• Quick and accurate results when compared to manual calculations.

• PPF is considered asafe investment option for investors with low-risk taking ability.

• ICICI PPF Calculator computes results with minimum basic details.

• The ICICI Bank PPF Calculator offers guidance as to how much investment should be made to achieve a desirable maturity amount.

What is the Interest Rate of PPF?

The PPF interest rate is revised every quarter and applies to all public and private banks. The current Public Provident Fund Interest Rate is 7.1% compounded annually. Historically, PPF rates have been among the higher returns offered on government-backed savings schemes, reflecting a balance between offering an attractive savings tool for the general public and aligning with overall economic conditions.