What is Public Profident Fund?
A public provident fund (PPF) is one of the saving schemes provided by the post office. National Savings Institute launched this scheme in 1968. All the citizens of India are allowed to invest in PPF. The public-private fund enables individuals to take a loan against public-private fund investments. Investors can take loans online too from the website of banks. The interest rate of the public-private fund is 7.1% for the current quarter and interest is calculated on the minimum balance of the public-private fund. Investors have to keep investing in PPF for a minimum of 15 years. The returns you get on your investments are completely tax-free. A public-Private fund calculator enables individuals to calculate the returns and maturity amount on their investments. You can easily track the growth of your investments with the assistance of the PPF calculator. Nowadays It has been so easy to keep updated with the changing rates of interest. For any individual who is looking to invest in a public-private fund but is not sure about how much should he invest or what returns will he get on investing then the PPF calculator can clear all your doubts and queries. Our calculator considers the tenure of 15 years and the common interest rate to give you an accurate result.
How to use the myitronline PPF calculator?
Myitronline PPF calculator is a simple and easy-to-use calculator with a user-friendly interface. Our accuracy of the result makes the myitronline calculator worthy and useful for users. Any individual who is a newbie to our calculator can operate it easily but still if there is any problem using it for that We have explained the process below on how to use the myitronline PPF calculator. Firstly, Fill out the amount that you are going to invest in a financial year into your public-private fund calculator. keep in mind that more than Rs. 1.5 lakh can not be deposited in the PPF account. Secondly, the current interest is already filled out by default so you don't have to do anything in this step. Thirdly, There is a slider given which is for the duration of the investment. You need to set the slider as per your time of the years you want to be invested in. Here, 15 years' time is set by default but you can set it according to you. 15 years is the minimum investment years. That is all you need to do and the rest of the things will be done by myitronline calculator. It will show you the estimation of your investment returns and maturity amount.
What is the eligibility to open a PPF account?
To open the Public-Private Fund individuals need to match the following requirements. That individual who wants to open a PPF account should be a citizen of India. This account can not be opened by the (HUF) Hindu Undivided Family and Non-residents Indians. Individuals can open only one account in their name but in case of being minor, another account could be opened too. Investors need to fill out the application form and submit it with all required documents as well as the deposit amount.
Documents required to open a PPF account?
To open the PPF account, Individuals should have the following documents. scheme application form of Public-Private Fund Address Proof such as Passport, Aadhaar card, etc. Identification proof such as PAN card, Passport, Aadhaar card, etc. Signature proof. While submitting the essential documents always remember that you also have to submit the amount of investment to open a PPF account.