PPF Calculator - INR

PPF (Public Provident Fund), is offers an investment avenue with decent returns coupled with income tax benefits.

A minimum of Rs.500.00 subject to a maximum of Rs.1.50 lac per annum may be deposited. The subscriber should not deposit more than Rs.1.50 lac per annum as the excess amount will neither earn any interest nor will be eligible for rebate under Income Tax Act. The amount can be deposited in lump sum or in a maximum of 12 installments per year.

Original duration is 15 years. Thereafter, on application by the subscriber, it can be extended for 1 or more blocks of 5 years each.

8.70% per annum with effect from 01.04.2014. Interest will be paid on 31st March every year. Interest is calculated on the minimum balance between 5th day and end of the month.

This app is build based on this above rules, so this will show give an accurate idea about the Maturity Amount and the Total Interest.

Default Pin code: 1234 [User can change it in setting page]

APP FEATURES:

1. Supports the above terms and conditions of PPF accounts.
2. Shows all the deposits and withdraws.
3. Calculate and show the Maturity amount.
4. Calculates and show the Total interest earned.
5. Shows monthly earned interest.
6. Shows monthly Amount on which the interest is calculated.
7. Shows yearly earned interest.
8. Calculation will be based on user’s real time deposits and withdraws.
9. Interest is calculated on the minimum balance between 5th day and end of the month.
10. The interest will be added to total amount on 31st Mar. of every year.

USER INPUTS:

1. In Settings page, need to change the default values.
2. In Transaction Page, need to fill all deposits in PPF account. Please don’t add the interest amount which received from bank.
3. Already submitted transactions can be edited by clicking on the transaction in detailed page.

SUGGESTION:

1. Deposit the amount before 5th of every month for more return.
2. Deposit bigger amount on the beginning of the Financial Year.
3. Investors are required to make their own assessment before investing.