# ICICI PPF (Public Provident Fund) Calculator

ICICI PPF calculator is an online AI-based tool used to determine the PPF returns. Using this calculator, you can calculate the potential returns on a PPF account in ICICI Bank by furnishing details such as the investment duration and yearly investment amount.

The calculator then evaluates the potential returns based on the input provided by the user. It determines the interest earned through PPF investments. The ICICI PPF calculator automatically calculates the maturity value and the wealth gained on investing in a PPF.

Moreover, the ICICI PPF interest rate calculator helps you compare the maturity value and interest with other lenders and for different tenures.

**ICICI PPF Calculator Requirement**

The ICICI Bank PPF calculator requires the following inputs:

**Current Interest Rate (%):**Interest rates keep changing from one quarter to the other. Urban Money keeps updating the interest rate depending on the current rate offered by the ICICI bank.**Duration of Investment (in years):**The investment or lock-in period. Usually, PPF accounts have a lock-in period of 15 years. If investors want to extend their investment, they can do so by a block tenure of five years.**Yearly Investment:**It’s the amount an investor wants to deposit in a PPF account every year.

After providing these inputs, the PPF calculator ICICI Bank will return the following values:

**Wealth Gained:**The total amount earned during the investment period.**Total Investment**: It is a total of all the yearly investments combined until the investment tenure ends.**Maturity Amount:**As the name suggests, it’s the total amount the investor gets when the investment tenure expires.

**How does the ICICI PPF Calculator Help You?**

The ICICI PPF calculator helps you determine the maturity value at the end of tenure, the total interest earned, and the total amount invested.

Moreover, the calculator allows you to compare the amount gained with different investment values for different periods. By doing so, you can make an informed decision about the investment.

**Key Benefits of ICICI Bank PPF Calculator**

The Following are the key benefits of the ICICI PPF calculator:

**User Friendly:**ICICI PPF interest rate calculator is a simple and easy-to-use instrument. You have to simply enter the investment amount you wish to invest yearly and the tenure of investment. The calculator determines the maturity amount, wealth gained, and total investment amount. Besides, it also suggests alternatives to a PPF.**Determines the wealth gained:**The calculator computes the wealth gained by investing in an ICICI PPF account. It also determines the maturity amount at the end of the investment tenure.**Fast and accurate:**The PPF Calculator ICICI Bank computes the results within seconds. Furthermore, it estimates the accurate outputs based on the inputs provided. Nevertheless, the calculator doesn’t assure any return. It only determines the potential return one can garner from a PPF investment.**Beneficial in managing finances better:**When you know how much return you can get from an investment in PPF, you can make an informed decision pertaining to investment.

**ICICI Bank Public Provident Fund Calculator Formula**

The ICICI Bank PPF Calculator has the following formula embedded in its tool that helps determine the maturity amount at the end of investment tenure. The formula used is shown below.

*A = P [({(1+i) ^n}-1)/i] *

Where,

- A = Maturity amount
- P = Investment amount
- n = the tenure of investment
- i = Interest rate on PPF

**ICICI Bank PPF Investment Schedule **

Suppose you want to invest in ICICI PPF scheme for 15 years at a current interest rate of 7.1%, then the investment schedule would be as follows:

Year |
Opening Amount (INR) |
Investment (INR) |
Interest (INR) |
Closing Amount (INR) |

1 | 0 | 50000 | 3,550.00 | 53,550.00 |

2 | 53550 | 50,000.00 | 7,352.00 | 110,902.00 |

3 | 110902.05 | 50000 | 11,424.00 | 172,326.00 |

4 | 172326.0956 | 50000 | 15,785.00 | 238,111.00 |

5 | 238111.2483 | 50000 | 20,456.00 | 308,567.00 |

6 | 308567.147 | 50000 | 25,458.00 | 384,025.00 |

7 | 384025.4144 | 50000 | 30,816.00 | 464,841.00 |

8 | 464841.2188 | 50000 | 36,554.00 | 551,395.00 |

9 | 551394.9454 | 50000 | 42,699.00 | 644,094.00 |

10 | 644093.9865 | 50000 | 49,281.00 | 743,375.00 |

11 | 743374.6595 | 50,000.00 | 56,330.00 | 849,704.00 |

12 | 849704.2603 | 50,000.00 | 63,879.00 | 963,583.00 |

13 | 963583.2628 | 50,000.00 | 71,964.00 | 1,085,548.00 |

14 | 1085547.674 | 50,000.00 | 80,624.00 | 1,216,172.00 |

15 | 1216171.559 | 50,000.00 | 89,898.00 | 1,356,070.00 |

Now the question is - how will you calculate the maturity amount?

Let us consider an example of the same.

Suppose an individual wants to open a PPF account and wants to invest in it for a period of 15 years. The current PPF interest rate for ICICI Bank is 7.1%. This individual wishes to invest ₹50,000 every year in the PPF. In such a case, the maturity amount at the end of the tenure would be:

*A=**P [({(1+i) ^n}-1)/i]*

A = 50,000 *[({(1+0.071) ^15}-1)/0.071]

A = INR 13,56,070

Hence, upon maturity .i.e. After 15 years, this individual will get ₹13,56,070 and the total interest earned will be ₹89,898.

**Steps to Open a PPF Account in ICICI Bank**

Opening an ICICI PPF account is quite simple. All you have to do is to follow the steps mentioned below.

**Step 1: **Visit the official portal of ICICI Bank and log in using your internet banking ID and password.

**Step 2: **Navigate to the Menu bar and click on the “Bank Accounts” section.

**Step 3: **Select the “PPF Accounts” from the drop-down menu.

**Step 4: **The website will direct you to a new page wherein you have to select the ‘Initial Deposit Amount’ and check the box whether you want to add the same nomination from the savings account or not.

**Step 5: **Verify your details.

**Step 6: **Check ‘Yes’ or ‘No’ for whether you want to create standing instruction.

**Step 7: **Check the mandatory field boxes, confirm if you agree to the terms and conditions, and then click on the ‘Proceed’ box.

**Step 8: **You will be redirected to a new page where you have to verify your Aadhaar number. If your bank is already linked to Aadhaar, click on ‘Generate OTP’.

**Step 9: **You can also opt for an e-sign with the ‘Aadhaar OTP’ option. This option lets you open a PPF account online instantly.

**Step 10: **Your PPF account will be created instantly in a few seconds. Moreover, your PPF account number will be displayed at the same instant.

**Note:** The annual statement and the statement of transaction of the PPF account are available on internet banking.

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## Frequently Asked Questions (FAQs)

### How much do I get after 15 years in PPF?

If you invest ₹10,000 every year at an interest rate of 7.1% for 15 years, you will earn a total interest amount of ₹1,21,214.

### How is PPF interest calculated in ICICI Bank?

You can use the ICICI Bank PPF calculator or a mathematical formula (as described in the article above) to determine the interest earned on the ICICI PPF account.

### What is the ICICI PPF rate of interest?

Currently, the ICICI PPF interest rate is 7.1%.

### Is ICICI Bank good for the PPF account?

As the ICICI Bank PPF account is backed by the Indian Government, the funds invested in your PPF account are completely safe. Moreover, it offers guaranteed long-term returns along with tax benefits. Therefore, investing in the ICICI Bank PPF account could be a good option.