₹1000 PPF Interest Calculation for 15 Years | PPF Calculator and Account Benefits

Описание: Rs. 1000 PPF Interest Calculation for 15 Years | PPF Calculator and Account Benefits in Hindi
In this video by FinCalC TV we will see PPF Interest calculation for 15 years if you deposit Rs. 1000 every month at 7.1% interest rate.
We will also see how interest is calculated in PPF when interest rate changes quarterly.
Many queries will be solved such as ppf calculator for 15 years, ppf account benefits, ppf account kya hai, ppf interest rate, etc.

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WHAT IS PPF?
PPF full form is Public Provident Fund, which is a government backed Saving Scheme. Many Indians invest in PPF and treat it as a retirement fund since it has a lock-in period of 15 years. Also it helps in saving income tax while claiming deductions under Section 80C (maximum deduction up to Rs. 1.5 Lacs in a financial year)

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 Jan 2022 to Mar 2022, 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

HOW TO MAXIMIZE PPF INTEREST?
When you deposit Rs. 1.5 Lacs before 5th April, you get maximum interest in PPF for that financial year

IS PPF AVAILABLE FOR 5 YEARS?
When you open a PPF account, there is a mandatory lock in period of 15 years, so you have to continue PPF account for 15 years. In case you want to deposit only for 5 years, than you should look for some other tax saving instruments like 5 year Fixed Deposits or ELSS (Equity Linked Saving Scheme)

After 15 years in PPF, you have the option to either close the account and take entire tax free maturity amount in your savings account, or to extend your PPF account for next 5 years, with or without deposits.

Extending PPF with a block of 5 years is one of the best solutions to earn more compounding interest in case you are not in a need of money for next 5 years.

#ppf #ppfinterest #ppfcalculator #fincalc

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