How to use the PPF Calculator
- Enter the amount you will deposit each year.
- Enter the current PPF interest rate. Check the latest rate on the India Post or your bank’s website.
- Enter how many years you will keep depositing. The standard term is 15 years.
- Read the maturity value, the total deposited and the interest earned, then check the year-by-year balance below.
Formula used
Maturity = P × ((1 + r)ⁿ − 1) ÷ r × (1 + r), assuming the deposit is made at the start of each year (before 5 April) and interest is compounded yearly at a constant rate r.
Worked example
Here is the PPF Calculator worked through with the example values shown above, so you can check each step by hand.
| Inputs | |
|---|---|
| Yearly deposit | ₹1,50,000 |
| Interest rate (per year) | 7.1 % |
| Duration | 15 years |
| Result | |
| Maturity value | ₹40,68,209 |
| Total deposited | ₹22,50,000 |
| Interest earned | ₹18,18,209 |
Year-by-year PPF balance
Closing balance of the default PPF account each year at a constant rate, with the deposit made at the start of each year.
| Year | Deposited | Balance | Interest |
|---|---|---|---|
| 1 | ₹1,50,000 | ₹1,60,650 | ₹10,650 |
| 2 | ₹3,00,000 | ₹3,32,706 | ₹32,706 |
| 3 | ₹4,50,000 | ₹5,16,978 | ₹66,978 |
| 4 | ₹6,00,000 | ₹7,14,334 | ₹1,14,334 |
| 5 | ₹7,50,000 | ₹9,25,701 | ₹1,75,701 |
| 6 | ₹9,00,000 | ₹11,52,076 | ₹2,52,076 |
| 7 | ₹10,50,000 | ₹13,94,524 | ₹3,44,524 |
| 8 | ₹12,00,000 | ₹16,54,185 | ₹4,54,185 |
| 9 | ₹13,50,000 | ₹19,32,282 | ₹5,82,282 |
| 10 | ₹15,00,000 | ₹22,30,124 | ₹7,30,124 |
| 11 | ₹16,50,000 | ₹25,49,113 | ₹8,99,113 |
| 12 | ₹18,00,000 | ₹28,90,750 | ₹10,90,750 |
| 13 | ₹19,50,000 | ₹32,56,643 | ₹13,06,643 |
| 14 | ₹21,00,000 | ₹36,48,515 | ₹15,48,515 |
| 15 | ₹22,50,000 | ₹40,68,209 | ₹18,18,209 |
How this PPF calculation works
The calculator assumes you deposit the full yearly amount early in the year, in time to earn interest for the whole year, and that interest is compounded yearly at a constant rate. The maturity value is P × ((1 + r)ⁿ − 1) ÷ r × (1 + r).
With ₹1,50,000 a year at 7.1% for 15 years, you deposit ₹22,50,000 in total and the estimated maturity value is ₹40,68,209. That means about ₹18,18,209 of the final amount is interest, more than the money you put in.
Why the early years matter
PPF is a compounding game, and the balance grows slowly at first. At the default settings the balance after 5 years is ₹9,25,701, after 10 years it is ₹22,30,124 and after 15 years it is ₹40,68,209. The last five years add more than the first ten years combined.
Extending the account beyond 15 years, which the scheme allows in blocks under its current rules, keeps compounding going. For 20 years at the same deposit and rate the estimate is ₹66,58,288.
Deposit limits, rates and rules to check
PPF has a minimum and a maximum yearly deposit, and the limit has been ₹1,50,000 for a long time. The government can change the limit, the interest rate and other conditions, and it reviews the rate every quarter. This calculator uses one rate for the whole period, so your actual result will differ if the rate changes.
Partial withdrawals and loans against the balance are allowed under certain conditions after specific years. Because rules change, read the current scheme details on the India Post or bank website before you decide.
Is PPF right for you?
PPF suits people who want a safe, low-risk part of their savings and who can lock money away for a long time. Its returns are fixed by the government rather than the market, so it will usually trail equities over very long periods but with much lower risk.
Many people hold PPF alongside market-linked investments, using it as the stable part of a retirement or goal-based plan.
Frequently asked questions
What is the maturity period of PPF?
The scheme runs for 15 years, with extensions allowed in blocks of 5 years under current rules. Confirm the latest terms with the India Post or your bank.
Is the PPF interest rate fixed?
No. The government notifies the rate and can change it every quarter. The calculator uses one constant rate, so treat the result as an estimate.
What is the maximum yearly deposit?
It has been ₹1,50,000 per year for some time, but the limit is set by the government and can change. Check the current limit before depositing.
Why does the deposit date matter?
Interest is calculated on the lowest balance between certain days of the month under the scheme rules, so depositing early in the financial year earns interest for more months.
Is PPF interest taxable?
Under the rules at the time of writing, PPF interest and maturity are tax-free, but tax laws change. Confirm the current position.
Can I withdraw before 15 years?
Partial withdrawals are allowed after a few years, subject to limits. Premature closure is allowed only in specific cases. Read the scheme rules for details.
This calculator gives estimates for information only. Actual figures from a bank, employer, tax authority or doctor may differ. It is not financial, tax, legal or medical advice.