How is PPF maturity calculated?
PPF pays yearly compound interest on a deposit made before 5 April each year: F = P x [((1+i)^n - 1)/i] x (1+i), where P is the yearly deposit, i the yearly rate and n the years. Enter your deposit and the current rate in FixDoks's PPF Calculator to see the maturity value and yearly balances.
PPF Calculator at a glance
| Inputs | Yearly deposit, interest rate, 15 years or extension |
|---|---|
| Output | Maturity value, total interest, year-by-year balance |
| Processing | In your browser; your files are not uploaded |
| Price | Free |
| Works on | Chrome, Edge, Safari and Firefox on Windows, Mac, Android and iPhone |
How to use PPF Calculator
- Enter the amount you deposit every financial year (₹500 to ₹1,50,000).
- Check the interest rate. It defaults to 7.1%. Update it if the Government has changed it.
- Pick 15 years or an extended duration.
- Read the maturity value and the balance at the end of every year.
About PPF
The Public Provident Fund is a Government-backed savings scheme with a 15-year term. You can open it at a post office or at most banks. The minimum deposit is ₹500 and the maximum is ₹1,50,000 per financial year. The interest rate is set by the Ministry of Finance every quarter and was 7.1% for the July to September 2026 quarter.
How does PPF interest work?
Interest is calculated every month on the lowest balance between the 5th and the last day of that month, and credited once a year on 31 March. So a deposit made on or before the 5th of April earns interest for the full year. This calculator assumes you deposit once a year before 5 April, which gives the highest possible maturity for your deposit. The formula is:
F = P × [((1 + i)n − 1) ÷ i] × (1 + i)
- P is the yearly deposit.
- i is the yearly rate as a decimal (7.1% = 0.071).
- n is the number of years.
Worked example
₹1,50,000 every year for 15 years at 7.1%:
- (1.071)15 = about 2.7995
- F = 1,50,000 × (1.7995 ÷ 0.071) × 1.071 = about ₹40,68,209
You deposit ₹22,50,000 and earn about ₹18,18,209 in interest. Extend by one 5-year block with the same deposit and the balance grows to roughly ₹66.6 lakh, because the later years compound on a much larger base.
What are the tax benefits of PPF?
PPF has an exempt-exempt-exempt status. Deposits qualify for deduction under section 80C (up to ₹1.5 lakh a year, old tax regime only), and both the interest and the maturity amount are tax free. Under the new regime there is no deduction for the deposit, but the interest and maturity stay tax free.
Extensions, loans and withdrawals
- After 15 years you can extend the account in blocks of 5 years, with or without fresh deposits.
- Partial withdrawal is allowed from the 7th financial year, within limits.
- A loan against the balance is available from the 3rd to the 6th year.
- Premature closure is allowed after 5 years only for specific reasons such as serious illness or higher education, with a small rate cut.
The rate can change every quarter and applies to your whole balance, so treat the result as an estimate.
Results are estimates for planning. Your bank, fund house or the tax department may round differently or apply extra charges, so check the final figure with them.