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PPF Calculator

Check PPF Interest Rate 2022

Last Updated 22nd May 2022

PPF Account Details
Current PPF interest rate 7.10% w.e.f. 1st July 2021.
Lock-in period 15 years
Minimum and Maximum Amount ₹ 500 to ₹ 1.50 Lakh
Tax on PPF interest Nil, tax-exempted
  • Interest payable on PPF is fixed quarterly by the Ministry of Finance, Government of India from April 1st, 2016.
  • Current PPF interest rates offered by SBI, ICICI and all banks is 7.10% as applicable from 1st July 2021. .
  • Calculate returns on your investments in Public Provident Funds using the online PPF Interest Rate Calculator.
Calculate PPF Maturity Amount @ 7.10%
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What is PPF Interest Rate & Historical Trend?

Currently, PPF Interest for 1st April, 2022 is 7.10%. The interest rate for the Public Provident Funds scheme has been the same since 1st April, 2020. The table below mentions the Interest Rate history beginning from 1986 to the current financial year.

Period PPF Interest Rates Rate Difference (w.r.t Last Rate)
1st April, 2022 - 30th June 2022 7.10% Nil
1st January, 2022 - 31st March 2022 7.10% Nil
1st Jul 2021 - 30 Sep 2021 7.10% Nil
1st April, 2021 onwards 7.10% Nil
1st January, 2021 - 31st March, 2021 7.10% Nil
1st October, 2020 - 31st December, 2020 7.10% Nil
1st July, 2020 - 30th September, 2020 7.10% Nil
1st April, 2020 - 30th June, 2020 7.10% -0.8%
1st January, 2020 - 31st March, 2020 7.90% Nil
1st October, 2019 - 31st December, 2019 7.90% Nil

SBI PPF Account

SBI PPF is a government-regulated PPF account scheme, which is distributed through SBI branches. SBI PPF deposits allow a maximum limit of ₹ 1.50 Lakh per annum, for a maximum tenure of 15 years. Currently, the interest rate offered by SBI on a PPF account is 7.10%.


You can invest in ICICI PPF account ranging from ₹ 500 to ₹ 1.50 Lakh in a financial year using various methods such as cash, cheque or online through an ICICI savings account. Current ICICI PPF interest rates, last updated on 1st April, 2022 is 7.10%.

HDFC Bank PPF Account

You can invest in an HDFC Bank PPF account by getting Form A from the HDFC Bank or downloading it from the official website by investing a minimum deposit of ₹ 500. As per the current rates, HDFC Bank PPF Interest Rates is 7.10%

India Post Office PPF Account

You need to invest a minimum of ₹ 500 in your India Post Office PPF account and can deposit upto ₹ 1.50 Lakh in a financial year.PPF account interest rates are determined quarterly and currently, PPF Interest Rates on the India Post Office PPF account is 7.10%

What is a PPF Calculator?

PPF Calculator is an online tool that helps you calculate the returns on your investments. You can know about the interest earned and the maturity amount you will receive at the end of your investment tenure. The returns will be dependent on Public Provident Fund Interest Rates, the principal amount for investment and investment tenure etc.

How to Use a PPF Calculator?

  • Visit the official website and click here to directly visit MyLoanCare PPF Interest Rate Calculator.
  • Fill in details such as Period, Yearly Contribution and Official Email ID.
  • Click on Calculate to know about Interest Earned and the Total Maturity Amount.

How is PPF interest calculated?

You can also calculate the investment return on your PPF accounts using the formula A= P [({(1+i)^n}-1)/i] where
A= Final amount realised on maturity
P= Principal investment amount
i= Interest rate (subject to quarterly government changes )
n= period of investment

PPF Maturity Calculation

Suppose, if you deposit a fixed amount of ₹ 1,000 in your PPF account for 15 years at an interest rate of 7.10% the amount received at the end of tenure will be ₹ 27,121. Also, if you have availed a loan against your PPF account at the beginning of the 3rd financial year from opening the account, you can receive a maximum loan amount of ₹ 555.

Have a look at the closing balance, maximum loan amount and withdrawal amount in the table below:

Year Opening Balance Amount Deposited Interest Earned Closing Balance Loan Amount (Max) Withdrawal Amount(max)
1₹ 0₹ 1,000₹ 71₹ 1,071₹ 0₹ 0
2₹ 1,071₹ 1,000₹ 147₹ 2,218₹ 0₹ 0
3₹ 2,218₹ 1,000₹ 228₹ 3,447₹ 555₹ 0
4₹ 3,447₹ 1,000₹ 316₹ 4,762₹ 862₹ 0
5₹ 4,762₹ 1,000₹ 409₹ 6,171₹ 1,191₹ 0
6₹ 6,171₹ 1,000₹ 509₹ 7,681₹ 1,543₹ 0
7₹ 7,681₹ 1,000₹ 616₹ 9,297₹ 0₹ 2,381
8₹ 9,297₹ 1,000₹ 731₹ 11,028₹ 0₹ 3,086
9₹ 11,028₹ 1,000₹ 854₹ 12,882₹ 0₹ 3,840
10₹ 12,882₹ 1,000₹ 986₹ 14,867₹ 0₹ 4,648
11₹ 14,867₹ 1,000₹ 1,127₹ 16,994₹ 0₹ 5,514
12₹ 16,994₹ 1,000₹ 1,278₹ 19,272₹ 0₹ 6,441
13₹ 19,272₹ 1,000₹ 1,439₹ 21,711₹ 0₹ 7,434
14₹ 21,711₹ 1,000₹ 1,612₹ 24,323₹ 0₹ 8,497
15₹ 24,323₹ 1,000₹ 1,798₹ 27,121₹ 0₹ 9,636

You can take a loan against PPF till the completion of 5 years from the end of the financial year in which the account was opened. After that, you can withdraw up to 50% of the closing balance at the end of the fourth year.

PPF Maturity Period

The maturity period of PPF account is 15 years from the date of opening. Thereafter, you can extend its maturity by submitting an application. You can extend your PPF account for a block of five year.

  • PPF Maturity and withdrawal Options
    Withdrawal from PPF is allowed after completion of 7 years from the date of first deposit subject to a maximum of 50% of the money available in the account. Complete withdrawal can be done only after maturity or on demise.
  • Extension of your PPF account tenure with contribution
    In this option, you can extend your PPF account for a five-year block by submitting Form H in bank within one year from the date of maturity. You can deposit money during the tenure. After completion of five years, you can again apply for an extension as there is no limit to the number of extensions. However, you can withdraw only 60 percent of your account balance at the beginning of the extension period. The withdrawal is restricted to one time in a financial year.

Loan against PPF Account

You can avail loan from your Public Provident Fund account between the third and sixth financial year of opening an account for upto 25% of the balance at the end of the second year preceding the year you apply for the loan. Also, the bank charges interest on the loan at 1% more than the interest earned on deposits made in PPF accounts.

Deactivation of PPF account

You must deposit a minimum of ₹ 500 every year to maintain your PPF account. If you fail to deposit the minimum amount, your PPF account will be deactivated and a penalty will be charged. To reactivate your PPF account you need to pay a penalty of ₹ 50 for each inactive year and ₹ 500 as each inactive year’s contribution.
In case of your demise, the amount will be handed over to your legal nominee even before maturity. However, your legal nominee is not eligible to continue your account.
If the balance in your PPF account is more than ₹ 1,50,000 your nominee will have to prove his/her identity to claim the amount.

Check Popular Government Investment Scheme Calculator

No cut in PPF, NSC and other small savings schemes interest rates

  • Government withdraws the decision to cut the interest rate of PPF

The government announced a huge cut in the interest rate of PPF and various other saving schemes on 31st March, 2021. The rates were reduced from 7.10% to 6.40%.

However, now the decision has been withdrawn stating it to be ‘Issued by Oversight’. For this quarter, from 1st April 2021, the rates of PPF will remain same at 7.10% and there is no rate change in other savings schemes like NSC, SCSS.


How is interest on PPF calculated?

The interest on PPF is calculated on a monthly basis based on the rate of interest decided by the government. However, the interest is credited to the account at the end of the financial year.

What is the Interest rate of PPF in 2022?

The government of India has kept the Interest Rate for Public Provident Fund for the year 2022 at 7.1%. The rates were last revised in the 1st April, 2020.

Is PPF interest tax-free?

Yes, PPF interest is exempt from income tax.

When can I withdraw money from the PPF account?

Fill the Form 2 with complete details along with mentioning the number of years passed from the date the account was first opened.

Can I take the loan against the PPF account?

Yes, you can take the loan against PPF account, which cannot exceed 25% of the balance at a rate of interest, which is 1% higher than the PPF interest rate.

What can I do after PPF maturity?

You can choose to either withdraw your maturity amount or opt for an extension of PPF duration by 5 more years.

What is the interest rate of PPF in SBI?

SBI does not have a separate PPF scheme, they only provide the related banking facility. The current interest rate on PPF is 7.10%, effective from 01 April 2022

Is PPF interest the same in all banks?

PPF is a government-run scheme; thus, the rate of interest is the same in all banks for PPF.

What is the difference between a PPF account and an employee provident fund account (EPF)?

EPF or Employee Provident Fund is a government-backed mandatory retirement benefits scheme for salaried individuals. PPF or Public Provident Fund provides old age income security to a PPF account holder and is an optional investment tool.

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Our News - May 2022
  • 2022-04-01 : Government Keeps Interest Rates on Savings Schemes Unchanged
    The interest rates for small savings schemes such as PPF, SSY, NSC have remained unchanged for the April-June quarter of FY 2022. Earlier, the government reviewed the recommendation for a cut in savings schemes interest rates.
  • 2022-03-30 : Finance Ministry may Cut Savings Account Interest Rate after 2 Years
    The government is reviewing a proposal to reduce the interest rates for small savings schemes for the first time in two years for the June quarter, in sync with the Employees Provident Fund Organisation (EPFO) recommendations. The govt will take a final call by Thursday.
  • 2021-10-26 : Post Office Introduces IVR Facility
    Post Office has launched Interactive Voice Response (IVR) facility for Post Office Savings Bank. A customer can use this facility for services like National Savings Schemes, PPF. A customer can avail of these services by calling a customer care number 18002666868 through a registered mobile number.
  • 2021-10-19 : Central Bank of India Inaugurates First Passbook Printing Kiosk
    The central bank has inaugurated its first passbook printing kiosk in the main office in Mumbai to move towards self-service. The users will thus be able to print their passbooks for Savings, Recurring Deposit as well as PPF account even after branch timings.
  • 2021-07-02 : PPF, other small savings scheme interest rates kept steady for September quarter
    In a huge relief to small investors, the Centre has kept interest rates on small savings schemes, including NSC and PPF, unchanged for the second quarter of 2021-22 amid the ongoing coronavirus pandemic. This means Public Provident Fund (PPF) and National Savings Certificate (NSC) will continue to carry an annual interest rate of 7.1% and 6.8%, respectively, in the second quarter as well. This is the fifth quarter (ending September 30, 2021) in a row that the finance ministry has retained the interest rate on various small savings schemes.
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