PPF Maturity Amount:
PPF (Public Provident Fund) is an investment scheme launched by the National Savings Institute of the Ministry of Finance in 1968. As it is Government-backed, you can get a fairly good interest rate and tax benefits.
The government offers this scheme to the citizens via public and private sector banks. SBI (State Bank of India) is one of the banks that offer this PPF investment scheme.
With an SBI PPF Calculator, you can easily get the accurate returns you will get for your specific amount after the maturity period of 15 years.
How to use Fincareplan’s SBI PPF Calculator
It can be time-consuming and a bit difficult for you to use the formula manually to calculate your return from the SBI PPF scheme. This is why we at Fincareplan have created an SBI PPF Calculator that you can use to know your returns.
The calculator is entirely free to use, and you only need to give certain details to calculate your returns. Below is the step-by-step process of calculating your SBI PPF returns.
Step 1: Enter your frequency of investment (monthly, quarterly, half-yearly, or yearly)
Step 2: Enter your deposit amount
Step 3: Enter the number of years you wish to invest. The interest rate is the default. So you don’t have to enter it manually.
Step 4: Click “Calculate.”
Our SBI PPF calculator will instantly calculate the PPF maturity amount you will get by the end of your investment period.
How Does an SBI PPF Calculator Work?
Fincareplan’s SBI PPF calculator is a useful tool for anyone who wishes to calculate their maturity amount. It also helps you understand how much amount you will be investing for a given period.
This will help you adjust your investment amount and investment period according to your financial capability.
What Is the SBI PPF Calculator Formula?
Your SBI PPF Scheme’s maturity value is calculated using the formula
F=P[({(1+i)^n}-1)/i]
Here,
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- F is the maturity value of your SBI PPF.
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- P is your yearly investments,
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- i is the interest rate, and
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- n is the number of years you plan to invest.
Advantages of using Fincareplan’s SBI PPF calculator
There are multiple SBI PPF calculators online that you can use to calculate your PPF return amount. Buy why should you use Fincareplan’s SBI PPF Calculator?
Here are some reasons why.
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- Our SBI PPF calculator is completely free and can be used anywhere, anytime, and you can use it on any device (mobile, tablets, computers, etc.)
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- You can get an accurate estimation of your maturity amount within seconds.
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- There is no need to sign up or provide your details to use the calculator. You only need a device and the internet.
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- You can use this calculator multiple times and draft an investment plan that suits you.
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- Shows you how much you will invest and earn for a given period of time.