BOB PPF Calculator
Results
Amount Invested: 0
Total Interest: 0
Maturity Amount: 0
If you’re putting your hard-earned funds into a PPF account, it’s important to comprehend its calculation method. You should be aware of the formula used to determine the maturity value of your PPF account.
BOB PPF Calculator
The BOB PPF Calculator, marked with the TOC share icon, is like a magic tool. It helps you guess how much money you might get from your Bank of Baroda PPF account.
You just have to put in some details, like how much money you save each year and how long you save it for. Then, the calculator tells you about the money you might get back.
It also shows how your saved money could grow. The calculator figures out the final amount you’ll get and how much your money can increase.
BOB PPF Calculator Formula
The calculation formula for PPF maturity value for BOB is as follows:
Maturity Value (F) = Principal Amount (P) * [{(1 + Interest Rate)^Number of Years} – 1] / Interest Rate
In this formula, the variables signify the following –
- F – Maturity of Interest
- I – Rate of Interest
- P – Annual Installment
- n – Total no. of Years
What You Need for the BOB PPF Calculator
To make the BOB PPF Calculator work, you need to tell it three things:
1. Every Year, How Much You Save: You can put in the smallest amount of Rs. 500 each year. If you can, you can put in up to INR 1.5 lakhs each year.
2. For How Many Years You Save: Your money stays locked for 15 years. If you want to keep it longer, you can add five more years each time, as many times as you like.
3. How Much Interest You Get: The interest on your savings changes every few months. Right now, it’s 7.10% per year since August 2023. The calculator keeps up with this and gives you the latest info.