IDBI PPF (Public Provident Fund) Calculator

A Public Provident Fund is a long-term savings scheme offered by the Government of India. The popular savings instrument among the middle and salaried class in India is open to all Indian residents. A minimum of INR 500 can be invested in a PPF account in a financial year with a maximum limit of INR 1.5 lakhs. The money invested in a PPF account earns a fixed interest rate, and the interest earned is exempted from taxation. The interest rate is declared by the government every quarter and is currently at 7.1% per annum. The PPF scheme is a safe and secure investment option with a guaranteed rate of return. It is a good option for those looking for a long-term investment with reasonable returns.

IDBI Bank PPF

Established in 1964, IDBI Bank is categorised as a ‘Private Sector Bank’ by the Reserve Bank of India. With its headquarters in Mumbai, the bank was created to provide long-term finance to the Indian industry. The universal bank has a strong focus on providing financing for all. It offers a wide range of banking products and services, including loans, deposits, credit cards, and foreign exchange. It also offers internet banking and mobile banking services. One of the services offered by the bank is a PPF account.

IDBI Bank PPF is a long-term investment scheme which offers attractive interest rates and tax benefits. With a tenure of 15 years, the scheme enables customers to build a corpus over a period by making regular deposits. The scheme is ideal for those looking to save for their future and earn a steady income. 

How Does The IDBI Bank PPF Calculator Work? 

The IDBI PPF Calculator is based on a simple principle: your money will keep growing for as long as you allow it to compound. That principle applies to the PPF account, where the bank offers an investment that guarantees a fixed interest rate until maturity. The IDBI PPF interest rate calculator considers the amount of money you have invested in your IDBI PPF account and the current interest rate. It then calculates the interest that will be earned on your investment and the maturity value of your investment. The calculator also considers any partial withdrawals you may have made from your account.

IDBI Bank PPF calculator uses the above formula to compute the maturity value of your investment:

F= P [{((1 + i)^n) – 1}/i]

Here:

• F means maturity value,
• P means annual instalments,
• I  means the rate of interest
• N means tenure of PPF 

Key Benefits of the IDBI Bank PPF Calculator 

• The IDBI PPF Calculator allows you to calculate the interest you will earn and the maturity value of your investment, so you can make an informed decision about whether or not a PPF account is right for you.
• The IDBI Bank PPF calculator considers the current PPF interest rate, so you can be confident that you are getting the most accurate information possible.

IDBI Bank PPF Interest Rates

The IDBI Bank PPF interest rate is decided by the Ministry of Finance based on recommendations by the Banking Regulation and Development Authority (RBI).

Month	Rate of Interest
January	7.1% p.a.
February	7.1% p.a.
March	7.1% p.a.
April	7.1% p.a.
May	7.1% p.a.
June	7.1% p.a.
July	7.1% p.a.
August	7.1% p.a.
September	7.1% p.a.

IDBI Bank PPF Calculator: Investment Schedule,

The IDBI Bank PPF investment schedule, is a great tool to help you track your progress and see how your investments are performing. The schedule includes your investment goals, risk tolerance, interest receivable, and maturity value for your PPF tenure. This will help you stay on track and make informed decisions about your investment strategy.

Let’s take an example to understand how the IDBI Bank PPF Calculator works.

Let’s assume, the principal invested is INR 1,500 on a monthly basis for a tenure of 15 years at 7.10% p.a.

Year	Deposit Amount	Interest	Balance
1	INR 18,000	INR 18,692	INR 692
2	INR 36,000	INR 38,711	INR 2,712
3	INR 54,000	INR 60,152	INR 6,152
4	INR 72,000	INR 83,115	INR 11,115
5	INR 90,000	INR 1,07,708	INR 17,709
6	INR 1,08,000	INR 1,34,048	INR 26,048
7	INR 1,26,000	INR 1,62,258	INR 36,258
8	INR 1,44,000	INR 1,92,471	INR 48,471
9	INR 1,62,000	INR 2,24,829	INR 62,828
10	INR 1,80,000	INR 2,59,484	INR 79,483
11	INR 1,98,000	INR 2,96,600	INR 98,599
12	INR 2,16,000	INR 3,36,351	INR 1,20,350
13	INR 2,34,000	INR 3,78,294	INR 1,44,923
14	INR 2,52,000	INR 4,24,520	INR 1,75,519
15	INR 2,70,000	INR 4,73,353	INR 2,03,352

How To Open A PPF Account in IDBI Bank?

The process is quite simple if you’re looking to open a PPF account with IDBI Bank. All you need to do is visit your nearest IDBI Bank branch and request the account opening form. Once you’ve filled out the form and submitted the required documents, the bank will open your account, and you can start making deposits.

You can also opt for opening an IDBI Bank PPF account online. Follow the steps listed below:

Step 1: Visit the official website of IDBI Bank

Step 2: Log in to your internet banking account.

Step 3: Fill in the application form along with the supporting documents.

Step 4: Provide your account details and other essential information.