Skip to main content

PPF Account for 30 Years

PPF Account stands for Public Provident Funds that are available to everyone who wants to save the money for future. The PPF account minimum tenure period is 15 years which make it the best account for a retirement savings account. One of the major benefiting factors of the PPF Account is the extension of the account. The account allows saving money for more than 30 years that makes it a retirement tool for younger side of the society you can even open a PPF Account in behalf of your children. Below we have provided the calculation for PPF Account for 30 Years with the help of PPF Calculator 30 Years we can predict the Maturity amount that we will get after the account matures to 30 years-

PPF Calculation for 30 Years

Yearly PPF Calculations

Before making any calculation we need to assume some point to make the calculation error free-
·         An amount of Rs.60,000/- has to be deposited at the beginning of every financial year.
·         The interest earned is calculated as 8% on compound bases.
·         There is no premature withdrawal made within the 30-year tenure.

Year
Deposit
Interest Earned
Closing Balance
1
60,000.00
4,800.00
64,800.00
2
60,000.00
9,984.00
1,34,784.00
3
60,000.00
15,582.72
2,10,366.72
4
60,000.00
21,629.36
2,91,996.36
5
60,000.00
28,159.68
3,80,155.68
6
60,000.00
35,212.48
4,75,368.48
7
60,000.00
42,829.44
5,78,197.44
8
60,000.00
51,055.76
6,89,252.76
9
60,000.00
59,940.24
8,09,193.24
10
60,000.00
69,535.44
9,38,728.44
11
60,000.00
79,898.24
10,78,626.24
12
60,000.00
91,090.08
12,29,716.08
13
60,000.00
1,03,177.28
13,92,893.28
14
60,000.00
1,16,231.44
15,69,124.44
15
60,000.00
1,30,329.92
17,59,453.92
16
60,000.00
1,45,556.32
19,65,010.32
17
60,000.00
1,62,000.80
21,87,010.80
18
60,000.00
1,79,760.88
24,26,771.88
19
60,000.00
1,98,941.76
26,85,713.76
20
60,000.00
2,19,657.12
29,65,371.12
21
60,000.00
2,42,029.68
32,67,400.68
22
60,000.00
2,66,192.08
35,93,593.08
23
60,000.00
2,92,287.44
39,45,880.44
24
60,000.00
3,20,470.40
43,26,350.40
25
60,000.00
3,50,908.00
47,37,258.00
26
60,000.00
3,83,780.64
51,81,038.64
27
60,000.00
4,19,283.12
56,60,322.12
28
60,000.00
4,57,625.76
61,77,947.76
29
60,000.00
4,99,035.84
67,36,983.84
30
60,000.00
5,43,758.72
73,40,742.72

Deposit Amount- 18,00,000.00
Interest Earned -  55,40,744.64
Maturity Amount- 73,40,742.72

Monthly PPF Calculations

Before making any calculations for the PPF Account for 30 Year we need to assume some points in order to make the calculations error free-
·         The payment are made on the beginning of 5th of the month
·         There is no pre-mature withdrawal made within the tenure of 30 years
·         The interest rate is 8% provided on compound bases

Year
Deposit
Interest Earned
Closing Balance
1
60,000.00
2,600.00
62,600.00
2
60,000.00
10,208.00
1,30,208.33
3
60,000.00
23,224.64
2,03,224.05
4
60,000.00
42,082.56
2,82,079.83
5
60,000.00
67,248.96
3,67,247.53
6
60,000.00
99,228.80
4,59,228.32
7
60,000.00
1,38,567.04
5,58,567.52
8
60,000.00
1,85,852.48
6,65,851.79
9
60,000.00
2,41,720.64
7,81,720.01
10
60,000.00
3,06,858.24
9,06,856.47
11
60,000.00
3,82,006.72
10,42,003.71
12
60,000.00
4,67,967.04
11,87,963.69
13
60,000.00
5,65,604.16
13,45,599.76
14
60,000.00
6,75,852.16
15,15,847.67
15
60,000.00
7,99,720.00
16,99,715.65
16
60,000.00
9,38,297.28
18,98,292.44
17
60,000.00
10,92,760.64
21,12,756.28
18
60,000.00
12,64,381.12
23,44,376.04
19
60,000.00
14,54,531.20
25,94,528.17
20
60,000.00
16,64,693.44
28,64,691.85
21
60,000.00
18,96,468.80
31,56,467.95
22
60,000.00
21,51,586.24
34,71,584.12
23
60,000.00
24,31,912.96
38,11,911.89
24
60,000.00
27,39,465.92
41,79,463.75
25
60,000.00
30,76,423.04
45,76,420.09
26
60,000.00
34,45,136.64
50,05,132.47
27
60,000.00
38,48,147.20
54,68,143.55
28
60,000.00
42,88,198.72
59,68,196.29
29
60,000.00
47,68,254.40
65,08,251.97
30
60,000.00
52,91,514.56
70,91,512.35

Deposit Amount- 18,00,000.00
Interest Earned -  52,91,514.56
Maturity Amount- 70,91,512.35

Conclusion

As you can see the PPF Account can make you money 4-4.5 times the amount after 30 years which makes it one of the best accounts that provides the highest interest rate in the country. You must have noted that there is a difference when it comes to the monthly payment and yearly payments. Therefore, it is recommended to pay the amount as a yearly deposit and before the 5th of the month to get full interest for that month. You can also check out analysis on the PPF Account for 25 years.

Comments

Post a Comment

Popular posts from this blog

List of Banks in india and how to check IFSC Code of the banks?

There are currently 27Public sector banks in India out of which 19 are nationalized banks(though none of the nationalized banks has 100 percent ownership of Govt of India). Allahabad Bank Andhra Bank Bank of Baroda Bank of India Bank of Maharashtra Bharatiya Mahila Bank Canara Bank Central Bank of India Corporation Bank Dena Bank IDBI bank Indian Bank Indian Overseas Bank Oriental Bank of Commerce Punjab & Sind Bank Punjab National Bank State Bank of Bikaner & Jaipur State Bank of Hyderabad State Bank of India State Bank of Mysore State Bank of Patiala State Bank of Travancore Syndicate Bank UCO Bank Union Bank of India United Bank of India Vijaya Bank Post Bank of India Private-sector banks Axis bank Catholic Syrian Bank City Union Bank Development Credit Bank Dhanlaxmi Bank Federal Bank HDFC Bank ICICI Bank IndusInd Bank Karnataka Bank Karur Vysya Bank Kotak Mahindra Bank Lakshmi Vilas Bank RBL Bank Nainital Bank South Ind...
Post a Comment
Read more

Why you should have a SBI Account?

State Bank of India is the largest bank in India with 23% of the Market shares. SBI has over 24000 Bank branches all over the world. SBI is listed in the top 50 global bank list and listed in the Fortune 500 company list. SBI started 200 years ago with the Mergence of Bank of Madras, Bank of Bengal and Bank of Calcutta. and named as Imperial Bank of India. In the year 1955, It was renamed as State Bank of India and Government of India took the stakes with Reserve Bank of India. Recently, SBI merged few banks into the SBI to increase their asset.  SBI has 16 regional hubs and 57 zonal offices that are located at important cities throughout India. Other Non-Banking Business SBI also has the following non-banking business that contributes to their revenue-  ·          SBI Capital Markets Ltd ·          SBI Funds Management Pvt Ltd ·          S...
Post a Comment
Read more

Why Online Banking is Safer Than What You Imagine?

Online Banking or net banking is a method of banking that allows the account holder to use all the banking service using an internet connection and a browser. This feature makes it a very favorable method of banking as it saves time and effort to visit the bank branch and wait in the queue to do the banking. There is another banking method that is  similar to the net banking and it is called Mobile Banking. The difference between Net Banking and mobile banking is the use of Smartphone and a specifically designed app for banking  purposes . Whenever online banking is mentioned one of the concerns regarding the service is security. Security is essential when money is involved . There were numerous cases of online frauds in the past that makes us trusting the online banking unlikely. But, in the recent year, the technology has improved for providing the more secure and safe ecosystem for using the banking service. How Banking Technology Has Improved The Banking Sector? ...
Post a Comment
Read more