PPF Calculator - Public Provident Fund Maturity
Calculate your Public Provident Fund maturity amount in rupees.
See how annual deposits grow at 7.1% compounded over the 15-year lock-in.
Changing your currency elsewhere on the site will not affect this page.
The Public Provident Fund (PPF) is a long-term, government-backed savings scheme in India offering tax-free returns and Section 80C tax deductions. It has a fixed 15-year lock-in period with optional 5-year extensions.
Formula: Maturity Value = P × [((1 + r)^n − 1) ÷ r] × (1 + r)
This is the future value of an annuity due formula (payments at the start of each period).
What each variable means:
- P is the annual contribution (minimum ₹500, maximum ₹1,50,000 per year)
- r is the annual interest rate, set quarterly by the Government of India. It has ranged from 7.1% to 12% historically and has been 7.1% since April 2020.
- n is the number of years, minimum 15
Interest calculation rule: Interest is calculated monthly but credited annually to your PPF account. The interest is computed on the lowest balance between the 5th and the last day of each month, so always deposit before the 5th to avoid losing a month of interest on that instalment.
Worked example: Annual contribution: ₹1,50,000 (the maximum allowed) Interest rate: 7.1% Tenure: 15 years
Maturity Value = 1,50,000 × [((1.071)^15 − 1) ÷ 0.071] × 1.071 = 1,50,000 × [(2.79796 − 1) ÷ 0.071] × 1.071 = 1,50,000 × [25.32343] × 1.071 = 1,50,000 × 27.12139 = ₹40,68,209
Total invested = 15 × ₹1,50,000 = ₹22,50,000 Total interest earned = ₹40,68,209 − ₹22,50,000 = ₹18,18,209, all of it tax-free
Put another way, 44.7% of what you walk away with is interest you never contributed and never pay tax on. Run the same ₹1,50,000 a year through a taxable fixed deposit at the identical 7.1%, with a 30% slab taking a bite out of the interest every year, and you finish with about ₹33,89,991. The tax treatment alone is worth ₹6,78,218 over the fifteen years, which is more than three full years of contributions.
Tax advantages: PPF follows the EEE (Exempt-Exempt-Exempt) model:
- Contributions are deductible under Section 80C (up to ₹1.5 lakh)
- Interest earned is tax-free
- Maturity amount is tax-free
This makes PPF one of the most tax-efficient investment vehicles available in India.
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This calculator runs entirely in your browser, so the numbers you enter stay on your device. The math behind it is written by hand and tested against worked examples and standard references before the page goes live.
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