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PPF Calculator

PPF Interest Rate

Last Updated 18th Oct 2021

PPF Account Details
Current PPF interest rate 7.10% w.e.f. 1st Jul 2021
Lock in period 15 years
Minimum Account ₹ 500
Tax on PPF interest Nil, tax exempted
  • Interest payable on PPF is fixed quarterly by Ministry of Finance, Government of India from April 1st, 2016.
  • Banks offer PPF accounts at the rate fixed by Indian Government. Current PPF interest rates offered by SBI, ICICI and all banks is 7.10% as applicable from 1st Jul 2021.
  • Big News: PPF interest rate remains unchanged New
Calculate PPF Maturity Amount @ 7.10%
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PPF Interest Rate Oct 2021 is 7.10%

Period PPF Interest Rates Rate Difference (w.r.t Last Rate)
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
1st July, 2019 - 30th September, 2019 7.90% -0.1%
1st April, 2019 - 30th June, 2019 8.00% Nil
1st January, 2019 - 31st March, 2019 8.00% Nil
1st October, 2018 - 31st December, 2018 8.00% 0.4%
1st July, 2018 - 30th September, 2018 7.60% Nil
1st April, 2018 - 30th June, 2018 7.60% Nil
1st January, 2018 - 31st March, 2018 7.60% -0.2%
01st October 2017 - 26th December 2017 7.80% Nil
01st July 2017 - 30th September 2017 7.80% -0.1%
01st April 2017 - 30th June 2017 7.90% -0.1%
01st January 2017 - 31st March 2017 8.00% Nil
01st October 2016 - 31st December 2016 8.00% -0.1%
01st July 2016 - 30th September 2016 8.10% Nil
01st April 2016 - 30th June 2016 8.10% -0.6%
01st April 2015 - 31st Mar 2016 8.70% Nil
01st April 2014 - 31st Mar 2015 8.70% Nil
01st Apr 2013 - 31st Mar 2014 8.70% -0.1%
01st Apr 2012 - 31st Mar 2013 8.80% 0.2%
01st Dec 2011 - 31st Dec 2012 8.60% 0.6%
01st Mar 2003 - 30th Nov 2011 8.00% -1%
01st Mar 2002 - 28th Feb 2003 9.00% -0.5%
01st Mar 2001 - 28th Feb 2002 9.50% -1.5%
15th Jan 2000 - 28th Feb 2001 11.00% -1%
01st Apr 1986 - 14th Jan 2000 12.00% -

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 rates 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 ICICI savings account. Current ICICI PPF interest rates are 7.10%, last updated on 1st October, 2020.

HDFC Bank PPF Account

You can invest in 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 India Post Office PPF account is 7.10%

What is a PPF Calculator?

PPF Calculator is a financial tool to determine the ratio of return on the amount of investment by keeping track of your investment. You can also determine the yearly withdrawal limits on your PPF accounts by using the PPF calculator.

How is PPF interest calculated?

The investment return on your PPF accounts can be calculated 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% then 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, the withdrawal facility is available. You can withdraw up to 50% of the closing balance at the end of the fourth year.

PPF Tax Benefits

Investing your money in PPF accounts also provides benefits of tax relaxations under specified limits. Under section 80C of the Income Tax Act, you can get tax exemptions for investments up to 1.5 Lakhs. The principal amount, maturity amount and interest earned on PPF investments are all subject to exemption from the taxes.

PPF Tax Exemption Limit

  • Your PPF account falls under Exempt, Exempt and Exempt tax basket. Your annual contribution qualifies for tax deductions under Section 80C of income tax. Contribution by your spouse and children in your PPF account also qualifies for PPF tax benefits. Tax concession is capped at ₹ 1.50 Lakh of your total income in a financial year.
  • Interest earned on PPF accounts and maturity proceeds are tax exempted too.

How to Transfer a PPF Account?

You can request to transfer your PPF account from one branch to another or post office free of cost. The steps are as follows:

  • You can approach the bank where the account is maintained and fill up the transfer form.
  • The existing bank will forward the form, account opening application, nomination form, specimen signature and cheque/ dd for balance amount in account to the new bank or branch specified by you.
  • Once the new branch receives the documents, they may ask you to submit a new application form along with your old pass book. You can also give the name of a new nominee. You are also advised to submit KYC documents.
  • After a few weeks, you can check the status online. If it is not updated under PPF account then you must enquire with the local branch.

PPF Interest Calculator

PPF interest calculator is an online financial tool that performs various calculations related to your PPF account. This calculator helps you to calculate the PPF account interest rate earned on your investment and the maturity amount after 15 years.

How to use PPF Calculator?

  • PPF calculator calculates the interest for every year on the basis of initial details given by you. You are required to choose the type of deposit (fixed amount or variable) and the amount deposited every year.
  • It is assumed that you are depositing the amount on 1st April every year. Then the interest is calculated for the financial year based on the prevailing market rate.
  • PPF interest calculator also gives you an estimate about the total amount of investment made by you till a particular year.

PPF Calculation for Investment Periods

The tenure of investments in PPF accounts is inversely proportional to the amount of interest you earn on your PPF investments, which means that you will earn more interest when you invest for a longer period.

Consider this example to understand better the connection between the investment period and interest earned on PPF accounts. If you have invested ₹ 10,000 for 1.5 years at a 7.90 % rate of interest, you will earn an interest amount of 1.4 Lakhs. The maturity value for your investments, in this case, would be ₹ 2.90 Lakh, and if you increase your investment of 1.5 Lakhs to 3 Lakhs, say for 30 years, the maturity value will increase multiple times and would be ₹ 12 Lakh with ₹ 9 Lakh as the interest earned. Thus continuing your investments for longer periods can help you to earn great returns on your investments.

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 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 year you can again apply for extension as there is no limit in 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 PPF account between the third and sixth financial year of opening an account.
  • The loan amount is restricted to 25% of the balance at the end of the second year preceding the year in which the loan is applied for. E.g. If a loan is applied in 2015-16 then 25% of balance at the end of 2013-14 can be taken as loan.
  • No loan can be taken from seventh year of opening the account as you become eligible for partial withdrawal.
  • The loan amount is repayable in lump sum or in two or more monthly installments within a 36 months period.
  • After the principal amount is repaid, interest on loan taken from PPF account is repayable in not more than two monthly installments.
  • Interest on loan is charged 1% more than the interest earned on deposits made in PPF accounts. For example, if interest earned on a PPF account is 8 % then interest charged on loan will be 10%.
  • If you fail to repay the loan within 36 months, 6% extra interest than normal interest will be charged and the amount will be debited from your PPF account at the end of each financial year.
  • You can take a second loan after repaying the first one.

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. Your legal nominee is not eligible to continue your account.
In case, the balance in your PPF account is more than ₹ 1,50,000 then your nominee will have to prove his/her identity to claim the amount.

Premature closure of PPF Account

The Public Provident Fund Scheme, 2019 has introduced a Form 5 to facilitate premature closure of PPF accounts after 5 years of completion. Change in the residency status of the account holder has also been added as a third ground for premature closure of the PPF account. It has also extended the existing ground of higher education of self to higher education for dependent children. In case of premature closure, you are required to pay 1% of your balance amount as penalty to the bank.

Form changes as per PPF Scheme 2019

  • Form A changed to Form 1 (account opening form)
  • Form C changed to Form 2 (partial withdrawal) and Form 3 (account closure after maturity)
  • Form D to Form 2 (PPF loan)
  • Form H to Form 4 (extension form)
  • New Form 5 introduced for premature closure
  • Form E to Form 1 (nomination).

Other Investment Calculators

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.

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 06 July 2021

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.

Difference between PPF account and employee provident fund account (EPF)

EPF is a special mandatory savings scheme only for salaried employees working in government and private sector subject to certain thresholds. Current EPF interest rates for FY 2020-21 is 8.50%. Non salaried individuals such as businessmen, self-employed professionals are not covered under EPF. The EPF scheme may be run by the respective employer through its own trust or by way of depositing the contributions with EPFO, a government run body that manages EPF money. A salaried person who is covered under EPF is eligible to also open a PPF account.

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Our News - Oct 2021
  • 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.
  • 2021-06-16 : Ujjivan Small Finance Bank collaborates with MoEngage
    Ujjivan Small Finance Bank has collaborated with customer engagement platform MoEngage to provide digital banking services in remote areas of the country. The aim is to build a wide presence of the bank with customers in the unserved regions through digital services.
  • 2021-04-16 : NPS entry age limit expected to be raised to 70 years
    The Pension Fund Regulatory Development Authority (PFRDA) is planning to raise the maximum age of entry into National Pension Scheme(NPS) to 70 Years. Currently, the maximum age is 65 years. Further, it is also planning to allow subscribers who join after the age of 60 years to continue their NPS accounts till the age of 75 Years.
  • 2021-04-01 : No cut in PPF interest rates
    The government withdrew a cut on interest rates on PPF, announced last evening. Rates for the April-June quarter will continue to be at the rates which existed in the last quarter of 2020-2021 i.e. 7.1%
  • 2021-03-24 : PF contribution cap for tax-free income doubled
    Government doubled the limit of Provident Fund contributions on which interest income will remain non-taxable. It increased the deposit threshold limit to ₹5 lakh per annum in PF for which interest would continue to be tax-exempt, if there is no employer contribution. The move is aimed at taxing high-value depositors in the Employees Provident Fund.
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