PPF Calculator - Know how to Calculate Interest

The PPF calculators are generally very accurate and user friendly. However, there are more than one type of PPF calculators available online. The calculators take into account the changes in interest rate and also the month of change of interest rate during a financial year. PPF calculator goes beyond just the amount payable as the advantages of a PPF include tax as well as loan against PPF in which cases, it is necessary to calculate tax deductions and permissible loan amounts.

Types of PPF Calculators

There are seven main types of PPF calculators which help people to calculate 6 different types of computations pertaining on PPF and based on usage and the other elements when using the calculator.

• PPF fixed monthly investment calculator: This tool helps individuals to calculate their payable amount for contributing towards PPF on a monthly basis. The tool requires individuals to enter the month of opening the account, financial year of opening PPF account, fixed monthly investment or deposit and finally requires individuals to submit the details.
• PPF fixed yearly investment calculator: This tool helps individuals to calculate their payable amount for contributing towards PPF on a year on year basis, as the PPF interest rates do keep changing over time. The main details required on this tool includes financial year of opening the PPF account and fixed annual investment or deposit.
• PPF variable yearly investment calculator: The variable yearly investment calculator requires individuals to enter basic information which includes financial year and amount deposited for each year. Also, the financial year of opening the PPF account has to be entered.

• PPF Benefits Calculator: This PPF Calculator involves various elements that include fixed annual contribution, interest rate in that year, age group of the individual. Total income of the individual. Then for the main benefits the following has is displayed:
  • Tax free income
  • Income Tax liability before investment
  • Income Tax liability after investment
  • Annual tax savings and,
  • total tax saving in 15 years
• PPF available loan calculator: This PPF loan calculator helps to compute the permissible loan amount, approximately. For this, the balance in the account has to be simply entered.

• PPF available withdrawal calculator (Before Extension/After Extension): Withdrawals are available to PPF contributors, once in a year from the PPF account after five years from the end of Financial Year in which the initial deposit was made expires. In other words is available for withdrawal from PPF account the seventh year. Both the withdrawal amounts before and after extension can be calculated on the online tool. Some websites have separate tools on the website.
• PPF Maturity Calculator: This PPF calculator simply helps you calculate the time when the PPF matures for amount withdrawals.