Bank of India PPF Calculator

The Bank of India PPF Calculator is a user-friendly online tool designed to help you estimate the maturity amount of your Public Provident Fund (PPF) investments with the Bank of India (BOI). This calculator helps you in effective financial planning by providing a clear projection of the growth of your PPF account savings.

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  • 7.7 Crore Registered Consumer
  • 50 Partners Insurance Partners
  • 4.2 Crore Policies Sold

Tax Saving Plans

  • Get Returns That Beat Inflation
  • Zero Capital Gains tax
  • Save upto Rs 46,800In Tax under section 80C^
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Insurance Partners
4.2 Crore
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Save Upto ₹46,800 in Taxes Under Section 80C^
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Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company
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Disclaimer: ^Section 80C allows annual deductions of up to ₹1.5 lacs from the taxable income. Section 10(10D) provides tax-free maturity benefits for investments of up to ₹2.5 Lacs/ year, on policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.
We are rated~
rating
7.7 Crore
Registered Consumer
50
Insurance Partners
4.2 Crore
Policies Sold
Bank of India PPF Calculator
  • Monthly
  • Yearly

Monthly Investment

₹500 ₹12.5K
Enter Monthly Investment

PPF Rate of Interest (Yearly)

Rate of Interest (Yearly)

Time Period

15 Years 50 Years
Enter Time Period
Total Investment
Interest Earned
Maturity Amount

What is a BOI PPF Account?

The BOI PPF Account means Bank of India Public Provident Fund Account, which is a Public Provident Fund (PPF) account offered by the Bank of India. It is a long-term savings scheme backed by the Government of India that qualifies for a tax deduction under Section 80C of the Income Tax Act. You can invest a minimum amount of Rs. 500 per year and a maximum amount of Rs. 1,50,000 per year. Currently, the BOI PPF interest rate is 7.1% per annum.

How to Use the BOI PPF Calculator?

The PPF Calculator offered by Policybazaar for the BOI accounts can be used by following the steps mentioned below:

Steps to Use the Bank of India PPF Calculator:

  • Visit the Calculator: Go to the PPF calculator available on this page.

  • Enter Details: Insert the required details as mentioned below-

    • Monthly/ Annual Contribution

    • Current PPF Interest Rate

    • Number of Years You Plan to Stay Invested

  • Calculator Results: The calculator will show you the following results on the right side- 

    • Total Investment: Total amount contributed over the investment period.

    • Interest Earned: Total interest earned on your PPF amount.

    • Maturity Amount: Total amount received at the end of investment period, which includes your total contributions and the interest earned.

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How Does a PPF Calculator Work?

A PPF calculator considers several factors that influence the final amount and performs calculations based on a formula used for the future value of an annuity:

  • Interest Calculation: Interest is calculated on the lowest balance between the 5th day and the end of each month using the current interest rate declared by the government.

  • Compounding: Interest is compounded annually. The calculator adds the interest to the principal at the end of each financial year.

  • Maturity Amount: The total maturity amount is calculated by summing up the compounded interest over the entire investment period.

Try our SIP Calculator to complement your SIP strategy.

Calculation Formula of BOI PPF Calculator

The calculation formula for the maturity amount in the BOI PPF Account is as follows: 

FV = P{[((1+i)^n)-1]/i}

The above-mentioned variables mean:

FV = Fund Value

P = Principal amount contributions

i = Interest rate

n = Number of total investment years

What are the Benefits of BOI PPF Calculator?

The BOI PPF calculator offers several benefits to those considering investing in the Public Provident Fund (PPF) scheme in India; some of these are listed below:

  • Gives you an accurate estimate of your PPF returns.

  • Helps in better decision-making by allowing you to customize your inputs.

  • Saves your time by providing fast results.

In Conclusion

The Bank of India PPF Calculator helps you to accurately estimate the returns and maturity value for the investments in your PPF account. By inserting a few details you can effectively plan your finances for your future expenses. The PPF Calculator for Bank of India is a hassle-free tool.

FAQs

  • How 15 years of PPF is calculated?

    The PPF account matures after 15 years from the end of the financial year in which the account was started. Accordingly, if you open a PPF account during the FY 2024–2025, the account will mature on March 31, 2040, and the 15-year period will begin on April 1, 2025.
  • What is the rate of interest for PPF in the Bank of India?

    The Government of India revises the quarterly PPF interest rate, which is the same across all the PPF Account providers like banks and Post offices. As of today, the PPF interest rate is 7.1% p.a. which is compounded annually.
  • Which bank is good for PPF?

    The Public Provident Fund (PPF) is a Government of India initiative, which is offered to you through Post offices and authorised banks. All the PPF account providers offer you the same benefits and interest rates. You can choose a bank which offers strong online services and has a wide offline presence to add convenience while managing your PPF account, like SBI, ICICI, HDFC, and PNB.
  • What is the highest PPF interest rate?

    The PPF interest rates vary over the years. It has been as high as 12% p.a. between 1986 – 2000, and as low as 4.8% p.a. between 1968 – 1970. The rate is revised quarterly by the Government of India, which is 7.1% p.a. as of July 2024.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan.
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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