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PPF Calculator

The Public Provident Fund is a 15-year government-backed savings scheme. Enter your yearly deposit and the current rate to see the maturity value and a year-by-year balance.

How to use this calculator

  1. Enter the amount you plan to deposit each financial year, between ₹500 and ₹1,50,000.
  2. Enter the current PPF interest rate as notified by the Government.
  3. Choose the period: the standard 15 years, or longer if you plan to extend the account.

Formula

Balance at year end = (Opening balance + Deposit) × (1 + r)

r
annual PPF interest rate as a decimal
Opening balance
closing balance of the previous year
Deposit
amount paid in during that year, assumed by 5 April

The calculation repeats for each of the 15 years, so interest compounds annually.

Worked example

₹1,50,000 deposited every year for 15 years at 7.1%.

  1. Year 11,50,000 × 1.071 = ₹1,60,650
  2. Year 2(1,60,650 + 1,50,000) × 1.071 = ₹3,32,706
  3. Total deposited1,50,000 × 15 = ₹22,50,000

After 15 years the balance is about ₹40,68,209, of which roughly ₹18,18,209 is interest.

How PPF interest is calculated

Interest is calculated on the lowest balance in the account between the close of the fifth day and the last day of each month, and credited once a year at the end of March. That rule has a practical consequence: a deposit made on or before 5 April earns interest for the full year, while the same deposit made on 20 April earns nothing for that month.

This calculator assumes deposits are made by 5 April each year, which is the most favourable timing.

Lock-in, partial withdrawals and loans

A PPF account matures after 15 full financial years from the end of the year in which it was opened. Before that, limited access is allowed: loans against the balance between the third and sixth years, and partial withdrawals from the seventh year onwards, subject to limits.

At maturity you can withdraw everything, keep the balance earning interest without fresh deposits, or extend in blocks of five years with deposits.

Tax treatment

PPF has an exempt-exempt-exempt status: deposits qualify for deduction under Section 80C in the old tax regime, the interest is not taxed, and the maturity amount is not taxed. This is what makes the headline rate compare well with taxable deposits at similar rates.

PPF interest rate history

The Government has notified the PPF rate every quarter since April 2016. It has stayed at 7.1% for every quarter from April 2020 to the October to December 2026 quarter. Before that it moved in small steps, and in the 1990s it was 12%. Use 7.1% for a current estimate; a lower figure such as 7% gives a cautious one.

  • April 2020 to December 2026: 7.1%
  • July 2019 to March 2020: 7.9%
  • October 2018 to June 2019: 8.0%
  • January to September 2018: 7.6%
  • April 2017 to December 2017: 7.9%, then 7.8%
  • April 2016 to March 2017: 8.1%, then 8.0%
  • 2013-14 to 2015-16: 8.7%; 2012-13: 8.8%
  • March 2003 to November 2011: 8.0%
  • April 1986 to January 2000: 12.0%

Extending PPF after 15 years: what it is worth

At maturity you can extend the account in blocks of five years, with or without fresh deposits. Because the balance keeps compounding tax-free, the extra years add more than the first fifteen did. Set the period above to 20 or 25 years to see your own figures. With ₹1,50,000 a year at 7.1%:

  • 15 years: about ₹40.68 lakh from ₹22.5 lakh deposited
  • 20 years, depositing through the extension: about ₹66.58 lakh from ₹30 lakh deposited
  • 25 years, depositing throughout: about ₹1.03 crore from ₹37.5 lakh deposited
  • Extended without fresh deposits, the ₹40.68 lakh grows to about ₹57.33 lakh after 20 years and ₹80.78 lakh after 25

Things to keep in mind

  • The Government reviews the PPF rate every quarter, so a single rate across 15 years is a simplification.
  • The ₹1,50,000 annual limit applies across all PPF accounts you hold, including one opened for a minor child.
  • Deposits above the limit are returned without interest.

Frequently asked questions

When should I deposit to earn the most interest?

On or before 5 April of the financial year. Interest each month is based on the lowest balance after the fifth, so an early deposit earns interest for all twelve months.

Can I deposit monthly instead of once a year?

Yes, up to twelve deposits a year are allowed within the ₹1,50,000 limit. Monthly deposits earn slightly less than a single early-April deposit of the same total, because later instalments earn interest for fewer months.

What is the PPF interest rate now?

7.1% a year for the October to December 2026 quarter, unchanged since April 2020. The rate is reviewed every quarter, so check the latest notification from the Ministry of Finance or your post office.

Should I extend my PPF account after 15 years?

If you do not need the money, extending usually makes sense because the balance keeps earning tax-free interest. Extend with deposits if you want to keep claiming 80C and adding money; to extend with deposits you must apply at your bank or post office within one year of maturity. Without that request the account continues without deposits, and any money you pay in earns no interest and gets no 80C deduction.

What happens if I miss a year?

The account becomes inactive. It can be revived by paying a small penalty for each missed year along with the minimum deposit of ₹500 for those years.

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