Public Provident Fund (PPF) is a risk-free and long-term saving option. In this investment, the investor has to invest at least 500 rupees yearly for 15 years. However, the investment amount can go up to 1.5 lacks yearly. The investor gets a return with interest after maturity. The government of India supports this scheme. It also announces the interest rate on PPF investment. Hence, it is difficult for a layman to track the return manually for 15 years. However, a ppf calculator tool can aid them in tracking, analysing, and calculating PPF. Its benefits are as follows-
Quick and accurate
A PPF calculator tells the total investment amount, total return value, and total interest earned in seconds. The result generated is free of human errors. The formula used to calculate PPF is coded in the PPF calculator tool. To calculate the PPF data, an investor only has to put values in the different fields of the calculator. The PPF calculator asks for the yearly investment amount and time period of investment. The fixed interest rate is already mentioned in the field because it is declared by the government of India. This system led to the generation of accurate results in no time.
No need to track changes in the rate of interest
PPF is a government-supported investment scheme. The rate of interest of this investment is declared by the finance ministry of government every year in March. To calculate the exact return and total interest, one should know the current applicable interest rate. But if you are using a PPF calculator you do not need to have this knowledge. A PPF calculator tool already knows the current interest rate on PPF. As a result, you can get investment-related data even if you are not updated with the current market conditions.
Do not require accounting and mathematical expertise
Certain accounting and mathematical knowledge are required to calculate PPF return and interest manually. But if you are using a PPF calculator, then this expertise is not needed at all. You only have to insert the required values in the fields. All the calculations regarding maturity value and total interest are done by the PPF calculator.
Helps in financial planning
PPF is a long-term investment scheme. Its returns are also fixed. Hence, a PPF calculator helps you in planning further use of the return earned from the scheme. The analytics of this investment also helps you in planning other investments.
Can be accessible anytime
A PPF calculator tool is accessible on mobiles and laptops. It does not require any extra resources other than a device and internet connection. Hence, you can calculate the maturity value and total interest on PPF anytime and anywhere.
A PPF calculator is a must-have online tool for people who have invested in a public Provident Fund scheme. It aids them in tracking and analysing the progress of their investment. Now, if you are looking for a reliable tool for PPF calculation, you can use the 5paisa PPF calculator. It is accurate, quick, and reliable.
