Calculate int in PUBLIC PROVIDENT FUND

This query is : Resolved

Guest

Guest (Querist)

08 August 2010 How can we calculate the interest for Public provident fund?

What is the rate of interest for this and the before year?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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08 August 2010 Current interest rate is 8% compounded. Interest will be credited to the account at the end of every financial year and payable at the time of withdrawal.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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08 August 2010 AGREED, FOR EXACT AMOUNT OF INTERST , UPDATE PPF PASSBOOK BY BANK AND GOT EXCAT AMT.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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08 August 2010 CLICK ON BELWO LINK AND SELECT MATUIRTY AMT OF PPF FOR VARIABLE INVESTMNET EVERY YEAR AND FILL UP INVESTMENT AMOUNT IN YEAR WISE, AND GET INTERST FIGURE AS WELL MATUIRTY AMOUNT

https://multiutils.com/widgets/ppfcalc.htm

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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08 August 2010 Currently, the interest rate offered through PPF is around 8%, which is compounded annually. Interest is calculated on the lowest balance between the fifth day and last day of the calendar month and is credited to the account on 31st March every year. So to derive the maximum, the deposits should be made between 1st and 5th day of the month.
The PPF (Public Provident Fund) interest calculation is a bit complicated due to various factors such as interest calculated on monthly basis but compounded on annual basis, no interest paid for a particular month if the amount is deposited after 5th of the month, interest always credited to the PPF account at the end of the financial year (i.e., 31st March).

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