PPF Calculator in Excel Download | Public Provident Fund Interest Calculation

Описание: PPF Calculator in Excel Download | Public Provident Fund Interest Calculation
In this video by FinCalC TV we will see making of PPF calculator in excel with download option in hindi which works with SBI bank as well. PPF or public provident fund interest is calculated on monthly basis and is compounded yearly, which means the entire financial year's interest is added to your balance at the end of FY to earn you more interest amount in upcoming FY.
Also we will see PPF interest rate change calculation in excel.

PPF Calculator:
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Download PPF Calculator in Excel:
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Rs. 1000 PPF Interest Calculation
   • ₹1000 PPF Interest Calculation for 15 Year...  

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CHAPTERS:
00:00 PPF Calculator in Excel Intro
01:04 Making PPF Excel Calculator
01:43 Defining required Labels
04:12 Formatting cells in Excel
04:52 Deposits in PPF
05:34 PPF Interest Calculation formula in Excel
09:34 Deposit Amount after 5th Day of month
10:12 Calculating PPF Balance
10:36 Calculating Interest for remaining months
14:54 Verifying PPF Interest with Calculator
15:49 Rs. 2000 monthly deposits in PPF Excel
16:27 Opening PPF Account in other months
19:36 PPF Interest rate Change Effect
21:26 Using FinCalC Blog PPF Calculator
24:55 PPF Calculator in Excel Conclusion

PPF (Public Provident Fund) is one of the attractive government-backed saving scheme for the people of India that helps in retirement planning and Income Tax saving. The latest interest rate between October to December 2023 is 7.1%. PPF Calculator in Excel helps us in calculating accurate interest including annual compounding.

FEATURES OF PPF
PPF or Public Provident Fund is a savings scheme offered by the Government of India.
PPF has a lock-in period of 15 years
Minimum deposit amount in a FY to keep your PPF account active is Rs. 500
Maximum deposit amount for which you can earn interest in PPF account is Rs. 1,50,000
The interest on the account is paid by the government of India and is set every quarter, It is also tax-free.
PPF interest is calculated every month and is compounded annually
The applicable PPF interest rate for October to December 2023, has been fixed at 7.1% annually.
PPF or Public Provident Fund falls under EEE category (Exempt, Exempt, Exempt), which means, the Deposits, Interest and Maturity Amounts are all exempted from Income Tax
Partial withdrawals are allowed in PPF account
Loan facility is also available in PPF account

OPENING A PPF ACCOUNT
PPF accounts can be opened in post office, nationalized banks and major private banks such as ICICI and Axis.
In several banks like ICICI and Axis, you can open a PPF account online through net banking as well.
In case you are NRI (Non-resident of India), you cannot open a PPF account, but if you already had a PPF account before your became NRI, you can continue to hold PPF account until it’s maturity period
Once the account is opened, a PPF passbook similar to the bank passbook is issued.
All transactions such as subscription, interest, withdrawals, etc. are recorded in this passbook.
Some banks simply allow PPF entries or PPF balance to be viewed online instead of issuing a passbook.
You should remember that your amounts will be locked-in for 15 years in a PPF Account
You can only have one PPF account at a time. Multiple PPF accounts for same holder are not allowed

CONTRIBUTIONS THAT YOU CAN MAKE IN PPF
Minimum contributions you should make in a PPF Account to keep the Account active is Rs. 500 in a Financial year.
The maximum amount you can contribute to earn Tax-free interest in a Financial Year is Rs. 1.5 Lacs.
Update: You can make any number of deposit transactions in PPF in a Financial Year
The contributions made towards PPF Account also help you in Saving your Income Tax, by claiming the Investments under Section 80C.
You can check PPF balance online anytime

#PPF #PPFCalculator #excel #fincalc

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DISCLAIMER:
Examples and demo used are for Illustration purpose only and might not cover every detail of examples shown.