# YES Bank PPF (Public Provident Fund) Calculator

The most important step towards generating wealth is gathering savings. There are a lot of savings account options that can help you do that; however, you should look for options that can ensure significant risk-free returns on investment. PPF accounts are the most common options that come to mind. The Yes Bank PPF scheme is the most effective tool, which provides significant returns with a plethora of tax benefits. An applicant can invest a minimum of Rs. 500 and a maximum of Rs. 1,50,000 in a fiscal year. You can always use the Yes Bank PPF calculator to determine the returns you can gain from an investment amount for various tenures.

## What is the Public Provident Fund?

PPF, also known as the Public Provident Fund, is a long-term savings investment scheme made available by the Ministry of Finance in 1968. The main aim of the scheme is to mobilise the small savings of an individual through investment options that offer reasonable returns and tax benefits. It is a tool backed by the Central Government on which interest is accrued regularly. The deposits made in this investment scheme are also eligible for tax deductions per Section 80C of the Income Tax Act.

## How Does Yes Bank PPF Calculator Work?

One can easily calculate the amount one will receive upon maturity using the Yes Bank PPF calculator. Given below are the steps to use the calculator:

• Enter the yearly investment amount, or move the slider to choose the amount
• Enter the investment period for the PPF
• Once you have entered all the details, the calculator will automatically compute the total investment amount, interest accrued, and amount during maturity

## Yes Bank Maturity Value Calculation

You can always use the Yes Bank PPF calculator to know the final maturity value for your investment in a PPF account. However, if you wish to know, how to calculate the maturity value, you can use the formula given below:

M = P [ ( { (1 + t) ^ n } - 1 ) / i ] x ( 1 + i )

In this formula,

• M stands for the maturity value
• P denotes the annual investment payments
• I is the applicable interest rate
• N is the investment tenure

Example: Let’s assume Mr Seymour Butts invests Rs. 1 lakh annually in the PPF investment scheme. Let’s substitute this value in the formula given above:

M = ₹ 1 lakh [ ( { (1 + 7%) ^ 15 } - 1 ) / 7% ] x (1 + 0.07)

M = ₹ 27, 12, 139

## Benefits of Yes Bank PPF Calculator

Using the Yes Bank PPF Calculator can make calculating the returns from your PPF investment very easy and hassle-free. However, there are numerous other benefits, following are some of the other advantages of using this online calculator:

• If you have an investment objective in mind, you can use this calculator to adjust the inputs according to your needs to see what your monthly contribution should be to achieve this goal
• The formula to calculate PPF maturity is very complicated. Manually calculating the returns can be very prone to errors and miscalculations. Further, it can be especially difficult to determine how your annual contribution will impact the final maturity amount
• Using the online calculator can help the user to calculate the yearly taxes. Once you determine the annual amount you have to contribute, you can calculate how many deductions you are eligible for as per Section 80C of the Income Tax Act.
• It helps the investor make an informed decision about how long they need to hold an investment to fulfil their objectives

## Yes Bank Public Provident Fund Calculator Formula

The Yes Bank PPF calculator uses the same formula used for determining the future value of an annuity. In other words, this calculates the future value of an investment, based on the contribution you make towards it and the prevailing interest rate. Given below is the formula used by the calculator to determine the returns:

M = P [ ( { (1 + t) ^ n } - 1 ) / i ] x ( 1 + i )

In this formula,

• M is the final maturity value
• P is the annual contribution that is required to be made
• i is the applicable interest rate
• n is the investment tenure

The component after P in the above formula is the annuity component, which when multiplied by the annual contribution is equal to the final maturity value.

## Yes Bank PPF Investment Schedule

To understand the concept of this investment scheme a little better, let’s take a look at a PPF investment schedule:

Let’s assume that an investor makes an annual investment of Rs 1.1 lakh and withdraws the permissible amount. For this illustration, we are assuming that the applicable interest rate is 7.90%.

 Years Opening PPF Balance Contribution to PPF Interest Accrued Closing PPF Balance Loan Availed Withdrawal 1 Rs. 0 Rs. 110,000 Rs. 8,690 Rs. 118,690 Rs. 0 Rs. 0 2 Rs. 118,690 Rs. 110,000 Rs. 18,067 Rs. 246,757 Rs. 0 Rs. 0 3 Rs. 246,757 Rs. 110,000 Rs. 28,184 Rs. 384,941 Rs. 29,673 Rs. 0 4 Rs. 384,941 Rs. 110,000 Rs. 39,100 Rs. 534,041 Rs. 61,689 Rs. 0 5 Rs. 534,041 Rs. 110,000 Rs. 50,879 Rs. 694,920 Rs. 96,235 Rs. 0 6 Rs. 694,920 Rs. 110,000 Rs. 63,589 Rs. 868,509 Rs. 133,510 Rs. 0 7 Rs. 868,509 Rs. 110,000 Rs. 77,302 Rs. 1,055,811 Rs. 0 Rs. 192,471 8 Rs. 1,055,811 Rs. 110,000 Rs. 92,099 Rs. 1,257,910 Rs. 0 Rs. 267,021 9 Rs. 1,257,910 Rs. 110,000 Rs. 108,065 Rs. 1,475,975 Rs. 0 Rs. 347,460 10 Rs. 1,475,975 Rs. 110,000 Rs. 125,292 Rs. 1,711,267 Rs. 0 Rs. 434,255 11 Rs. 1,711,267 Rs. 110,000 Rs. 143,880 Rs. 1,965,147 Rs. 0 Rs. 527,906 12 Rs. 1,965,147 Rs. 110,000 Rs. 163,937 Rs. 2,239,084 Rs. 0 Rs. 628,955 13 Rs. 2,239,084 Rs. 110,000 Rs. 185,578 Rs. 2,534,662 Rs. 0 Rs. 737,988 14 Rs. 2,534,662 Rs. 110,000 Rs. 208,928 Rs. 2,853,590 Rs. 0 Rs. 855,634 15 Rs. 2,853,590 Rs. 110,000 Rs. 234,124 Rs. 3,197,714 Rs. 0 Rs. 982,574

## Yes Bank PPF Rates

The table below displays the PPF rates and the variation over the past few years:

 Time Period Interest Rate on PPF July-September 2022 7.10% April-June 2022 7.10% January-March 2022 7.10% October -December 2021 7.10% July-September 2021 7.10% April-June 2021 7.10% January -March 2021 7.10% October -December 2020 7.10% July-September 2020 7.10% April-June 2020 7.10% January-March 2020 7.90% October-December 2019 7.90% July-September 2019 7.90% April-June 2019 8% January-March 2019 8% October-December 2018 8% July-September 2018 7.60% April-June 2018 7.60% January-March 2018 7.60% October–December 2017 7.80% July-September 2017 7.80% April-June 2017 7.90% January-March 2017 8.00%

## Steps to Open a PPF Account in Yes Bank

Currently, Yes Bank does not provide its customers with the facility of making an online application for PPF accounts. However, you can approach the bank and complete the application by submitting a form along with supporting documents. However, if you are an existing savings account customer and have an active internet banking account, you can download the application form and submit the same at your nearest branch.

### Is PPF available in Yes Bank?

Yes. You can start a PPF account in Yes Bank by visiting the nearest branch and submitting the duly filled application along with supporting documents.

### What is the interest rate of PPF in Yes Bank?

Yes Bank currently offers PPF accounts with interest rates starting at 7.10% per annum. The interest rate is subject to change according to RBI guidelines.

### Can I open a PPF account online with Yes Bank?

No. Yes Bank does not allow its customers to open a PPF account online.

### How much will I get if I invest 1000 monthly in PPF for 15 years?

If you invest Rs. 1000 monthly in a PPF account for 15 years, you will get a maturity value of Rs. 3,25,457.

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