Vijaya Bank, now merged with Bank of Baroda, is one of the renowned nationalized banks in India that provides a plethora of schemes and plans, including Public Provident Fund (PPF) accounts to their customers. PPF or Public Provident Fund is a scheme designed by the Central Government of India for all the citizens of the country, be it an adult or a minor, that is easily available through all the centralized public and private sector banks across India. Vijaya Bank PPF Calculator easies the process of PPF interest return and maturity value calculation based on the tenure of the scheme.
Here is a little detail about the Vijaya Bank PPF scheme for all the citizens, what Vijaya Bank PPF Calculator is, and how does the PPF Calculator work.
One of the safest and most reliable Government backed savings plus investment schemes, the Public Provident Fund can be considered as an ideal investment option for investors who do not want to risk their hard-earned money and want decent returns on their investments after a pre-defined tenure. Some of the top features and benefits that will lure an investor to invest in PPF (Public Provident Fund) are:
Mostly all the banks and financial institutions offer a PPF account to all
Public Provident Fund is an investment as well as a savings plan completely backed by the Government
PPF is a risk-free investment type that offers decent fixed returns to all the classes
Currently, as of the financial year 2022-2023, the rate of interest offered under a PPF investment is 7.1% annually
PPF comes with a 15-year lock-in period that can be further extended to 5 years at the end of the tenure
The annual minimum deposits to be made in a PPF account is Rs. 500
The annual maximum deposits to be made in a PPF account is Rs. 1,50,000
PPF offers tax benefits under Section 80C of the Income Tax Act, 1961
PPF is considered one of the safest investment options for investors which offer decent returns
Vijaya Bank PPF Calculator helps in easy and quick calculation of PPF returns
Looking for more insights? Try our SIP Calculator.
A PPF (Public Provident Fund) Calculator is a hassle free financial tool specially designed to calculate the maturity returns of the amount invested in the PPF account throughout the tenure of the scheme. Vijaya Bank PPF Calculator saves the precious time of the investor from the complicated and complex manual calculations and provides instant results of the expected maturity value in no time. With minimum details like the investment tenure, contributions to be made throughout the tenure, and prevailing interest rates, an investor can easily calculate the approximate returns on the Public Provident Fund.
It is important to know that as per the Government of India, the PPF account comes with a lock-in period of 15 years. Also, partial withdrawals under the PPF account can be made only after the 7th year of successful payments in the scheme.
Following are the benefits of using the Vijaya Bank PPF Calculator:
PPF Calculator helps in a clear understanding of how much money needs to be invested to achieve the desired outcome.
It predicts the total amount an investor will invest throughout the tenure based on the investments made to date.
PPF Calculator calculates the total interest earned at the time of maturity.
Predict the approximate amount to be received at the time of maturity.
The following compounded formula is used for the computation of Vijaya Bank PPF maturity value:
F = P [({(1+ i) ^ n} – 1) / i]
The elaboration:
F = Maturity value of the Public Provident Fund
P = The annual installments made throughout the tenure
i = Rate of Interest
n = Total number of years
PPF Calculator is a simple financial tool available online that computes maturity returns with just a few basic details related to the scheme. Following are the steps to use the Vijaya Bank PPF Calculator:
Drag the slider to the monthly invested amount under the Vijaya Bank PPF scheme
Next, the prevailing PPF interest rate will be auto-filled in the column
Drag the next slider to the number of years PPF investment is to be made
The PPF Calculator will compute the total investment amount, interest earned till date, and maturity amount at the end of the tenure in a fraction of seconds
†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.
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