PPF Calculator (Public Provident Fund)

The Public Provident Fund rate is notified by the Ministry of Finance every quarter. It is currently 7.1% per annum, compounded annually. The rate applies to your whole balance, so a revision changes returns on existing deposits too.

Interest accrues on the lowest balance between the 5th and the last day of each month, and is credited once a year on 31 March. Depositing on or before the 5th therefore earns a full month's interest; depositing on the 6th earns none for that month.

Yes. After the initial 15-year maturity you may extend indefinitely in blocks of 5 years, either with fresh contributions (submit Form H within one year of maturity) or without. An extension without contribution still earns full interest and allows one withdrawal a year.

You may deposit ₹500 to ₹1,50,000 per financial year. PPF is EEE: deposits qualify for Section 80C, interest accrues tax-free, and maturity is exempt. Missing the ₹500 minimum makes the account dormant, revivable by paying ₹50 a year plus arrears.

Yes, between the third and sixth financial year from opening. You can borrow up to 25% of the balance at the end of the year two years before the one you apply in, and the interest is just 1% a year, rising to 6% if the principal is not repaid within 36 months. Repay the principal within 36 months and the interest after that. A second loan is allowed only once the first is fully cleared, and no loan is available after year six.

From the seventh financial year after the account is opened. You may withdraw once per financial year, up to 50% of the balance at the end of the fourth year preceding the withdrawal or the end of the previous year, whichever is lower. There is no tax on the withdrawal and no reason to state a purpose. Premature closure of the whole account is allowed only after five years, for serious illness, higher education or a change in residency status, with a 1% interest penalty.

Yes, a parent or guardian can open one for a minor, but the Rs 1,50,000 annual ceiling is combined across your own account and the minor's, not separate for each. Deposit more than that in total and the excess earns no interest and is simply refunded without interest. The 80C deduction, available only under the Old Regime, is likewise capped at Rs 1,50,000 overall. A grandparent cannot open one unless they are the legal guardian.