You can know current PPF Interest Rate from here. With the Public Provident Fund interest rate only you can calculate your year-end PPF Amount. When compared to the last few years the Public Provident Fund Interest rate has been fluctuating. So, there is no constant value for the PPF Interest rate. Check the example which is given below. By this, you can know about the calculation of the Public Provident Fund Interest Rate on the saving scheme. For more details regarding the PPF interest rate, you can visit this page regularly.
PPF Interest Rate
The Interest Rates of PPF is fixed for every year. As you are observing from the last decades, the interest rates have been fluctuating. This year also we may not except the same as the last year. Also for the future years, the Public Provident Fund may even get down marginally. PPF is Saving and tax deductible account in which the current year Public Provident Interest Rate is 8.10%. Also, here we have provided the last few year Public Provident Fund Interest Rate. Therefore check below table to know the fluctuations that occur in last 5 to 6 years.
|1.||01 Dec 2011 to 31 March 2012||8.60%|
|2.||01 April 2012 to 31st March 2013||8.80%|
|3.||1st April 2013 to 31st March 2014||8.70%|
|4.||1st April 2014 to 31st March 2015||8.70%|
|5.||01 April 2015 to 31st March 2016||8.70%|
|6.||01 April 2016 to 31st March 2017||8.10%|
From the table, you will easily get an idea about the PPF Interest Rates. From these interest rates, you can know your yearly PPF Amount. The PPF Interest rate is calculated on the basic amount which is available in his account. The basic amount is the amount with is available between 5th to the last day of the every month.
PPF Interest Rates Calculation on Saving Schemes
Here we will explain the Public Provident Fund Interest rate with an example. Now if you deposit an amount of Rs. 10,000 per year. Then based on the current interest rate of 8.10% you can calculate your yearly amount.
|Year||Opening Balance||Depoisted Amount||Rate of interest||Closing Balance||Loan||Withdrawal Amount|
|1||Rs. 0/-||Rs. 10000/-||Rs. 810/-||Rs. 10810/-||–||–|
|2||Rs. 10810/-||Rs. 10000/-||Rs. 1686/-||Rs. 22496/-||–||–|
|3||Rs. 22496/-||Rs. 10000/-||Rs. 2632/-||Rs. 35128/-||Rs. 2703/-||–|
|4||Rs. 35128/-||Rs. 10000/-||Rs. 3655/-||Rs. 48783/-||Rs. 5624/-||–|
|5||Rs. 48783/-||Rs. 10000/-||Rs. 4761/-||Rs. 63544/-||Rs. 8782/-||–|
|6||Rs. 63544/-||Rs. 10000/-||Rs. 5957/-||Rs. 79501/-||Rs. 12196/-||–|
|7||Rs. 79501/-||Rs. 10000/-||Rs. 7250/-||Rs. 96751/-||–||Rs. 17564/-|
|8||Rs. 96751/-||Rs. 10000/-||Rs. 8647/-||Rs. 115398/-||–||Rs. 24392/-|
|9||Rs. 115398/-||Rs. 10000/-||Rs. 10157/-||Rs. 135555/-||–||Rs. 31772/-|
|10||Rs. 135555/-||Rs. 10000/-||Rs. 11790/-||Rs. 157345/-||–||Rs. 39751/-|
|11||Rs. 157345/-||Rs. 10000/-||Rs. 13555/-||Rs. 180900/-||–||Rs. 48376/-|
|12||Rs. 180900/-||Rs. 10000/-||Rs. 15463/-||Rs. 206363/-||–||Rs. 57699/-|
|13||Rs. 206363/-||Rs. 10000/-||Rs. 17525/-||Rs. 233888/-||–||Rs. 67778/-|
|14||Rs. 233888/-||Rs. 10000/-||Rs. 19755/-||Rs. 263643/-||–||Rs. 78673/-|
|15||Rs. 263643/-||Rs. 10000/-||Rs. 22165/-||Rs. 295808||–||Rs. 90450/-|
PPF Closing Amount Calculation
From the above, you can calculate your year-end balance with the help of PPF Calculator. Here the Public Provident Fund Interest rate is fixed i.e. 8.10%. By the interest rate, you can get the closing amount for the first month like Rs. 10810/-.
Deposit Amount =10000
Rate of Interest =8.10%
Then Rate of Interest= 10000*8.10/100
Finally, the Closing Amount = Rs. 10810/-.
For remaining years also the same process is followed to calculate the closing amount.
How to find Current Public Provident Fund Interest Rate
You can know your current PPF Interest Rate from online because from April 1 of the year to the March 31 of the next year the Interest rate is same. But the most important thing is to know the closing balance at the end of the year. You can easily get your closing balance by following ways:
- The people who want to know the current status of their PPF Account for that they have to contact their bank or the post office to know the details.
- If the bank provides online services then they can send a request to the bank to link their PPF Account to the existing banking account. Once if the accounts are linked then they can view the status of the PPF Account and other details.
Have you checked PPF Interest Rates? Now, it’s time to calculate PPF Amount using the PPF Calculator provided below.