Union Bank PPF Calculator

What is a Union Bank PPF Account?

A Union Bank PPF Bank Account means a Union Bank of India Public Provident Fund Account. It is a government-backed long-term savings scheme offered by Union Bank, which allows you to invest between ₹500 to ₹1.5 lakh annually with a 15-year maturity period.

The Central Government revises the PPF interest rates quarterly. The current Union Bank PPF interest rate is 7.1% p.a. You can use the Union Bank PPF Calculator to determine the maturity value of your PPF account and plan your investment accordingly.

What is the Union Bank PPF Calculator?

The full form of Union Bank PPF Calculator is Union Bank of India Public Provident Fund Calculator. It is an online financial tool to help you estimate the returns on your contributions in the PPF account by the Union Bank of India (UBI).

This calculator allows you to insert your investment amount, tenure, and PPF interest rate to see the projected maturity amount and interest earned over time. It is a useful resource for planning and managing your long-term savings in the PPF account efficiently.

Steps to Use Union Bank PPF Calculator

Follow the steps mentioned below to start using the Policybazaar Bank PPF Calculator:

• Step 1: Go to the Union Bank PPF calculator available on this page.

• Step 2: Enter the following details in the calculator:

  • Deposit Amount

  • Deposit Frequency (monthly/ yearly)

  • Tenure of the PPF Account

Note: The PPF interest rate is fixed at 7.1% p.a. as an inbuilt function, as it is pre-decided by the Government of India on a quarterly basis.

• Step 3: The Union Bank of India PPF Calculator will show you the following results-

  • Total investment amount

  • Interest earned on your contributions

  • Maturity amount

Plan better with: SIP Calculator

Union Bank of India PPF Calculator Formula

Illustration of Union Bank PPF

Let us understand the working calculation of Union Bank of India through the following example:

• Initial Investment = ₹30,000

• If you invest: ₹10,000 per month

• Investment tenure: 15 years

• Current PPF rate: 7.1% p.a.

Inserting the values in the above mentioned formula:

• FV= 30,000 × ({(1 + 7.1/100)^15} -1)/ (7.1/100)

• PPF Maturity Value = ₹40,68,209 (approx.)

Benefits of Using a Union Bank of India PPF Calculator

Following are the key benefits of using a Union Bank PPF Calculator in India:

• Accurate Interest Calculation: Ensures accurate estimation of interest earned on your PPF investments.

• Future Planning: Helps in planning your future financial goals by providing clear projections.

• Time-Saving: Quickly calculates returns, saving time compared to manual calculations.

• User-Friendly Interface: Simple and easy-to-use tool for both first-time and experienced investors.

• Financial Clarity: Offers a clear understanding of potential PPF returns, helping in informed decision-making.

• Stress-Free Planning: Reduces the stress associated with manual financial planning and calculation errors.

Sum It Up

The Union Bank PPF Calculator is a user-friendly tool designed to help you easily estimate the potential returns on your Public Provident Fund (PPF) investments. By inserting your PPF contribution details, you can quickly see how your savings will grow over time. A PPF calculator makes it easier to plan for your financial future with confidence.