Calculate the maturity value and year-by-year growth of a Public Provident Fund (PPF) account at the current 7.1% rate, including 5-year extensions.
Interest is earned on the lowest balance between the 5th and the end of each month, so depositing before 5 April earns the full year's interest.
At 7.1% for 15 years, depositing ₹1,50,000 at the start of each year grows to about ₹40.68 lakh, of which ₹22.5 lakh is your deposits.
Partial withdrawals are allowed from the 7th financial year. Loans are available from the 3rd to the 6th year.
No. PPF interest and the maturity amount are fully tax-free.