ICICI PPF Calculator is an investment tool designed for the calculation of maturity amount against the investment made in the Public Provident Fund Scheme in ICICI Bank.
To use this Fixed Amount Investment ICICI Bank PPF Calculator, you have to enter the current PPF Interest Rate and Fixed Yearly Investment Amount (in Rs).
(Calculate your ICICI Bank PPF maturity amount by using this ICICI PPF Calculator)
ICICI PPF account is a government-regulated personal financial scheme, which is maintained by ICICI Bank branches. The ICICI PPF calculator available on this page is one of the most accurate and user-friendly PPF Calculators available online.
ICICI Bank Public Provident Fund (PPF) scheme is a good investment option which offers safety with attractive interest rate and returns that are fully exempted from Tax. Investors can get facilities such as loans, withdrawal, and extension of accounts.
You can invest a little amount from Rs. 500 to a maximum of Rs. 1,50,000 in one financial year. ICICI PPF account has 15 years locking period, however, anyone can partially withdraw from the seventh year and onward.
This ICICI PPF calculator requires some data like – Opening Balance, Rate of Interest of PPF, and Amount Deposited. After calculation, you will get the Interest Earned, Closing Balance, Loan Available, and Withdrawal Available.
What is an ICICI PPF Account?
ICICI Bank PPF is a Government of India-backed long term small savings scheme which provides tax benefits to investors under Section 80C of the Income Tax Act 1961.
ICICI Bank Public Provident Fund (PPF) scheme is an investment option, in which one can invest a little amount from Rs. 500 to a maximum of Rs. 1,50,000 in one financial year. ICICI PPF account has 15 years locking period, however, anyone can partially withdraw from the seventh year and onward.
The Public Provident Fund account in ICICI bank provides fixed returns to investors at rates that are decided by the GoI every year. The present PPF interest rate is 7.1 % per annum from 01 January 2021.
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Features of ICICI Public Provident Fund (PPF):
The key silent features of the ICICI Public Provident Fund (PPF) account is as follows:
- The attractive interest rate of 7.1% that is fully exempted from Income Tax under Section 80C
- Good long term investments of 15 years
- Deposit Amount as low as Rs.500 and maximum Rs.1,50,000 in one financial year. Deposits should be in multiples of Rs.50
- A loan can be availed between the 3rd to 6th financial year
- A partial withdrawal facility can be availed after completion of 5 financial years
- The account can be extended in a block period of 5 years after maturity
- Deposits to Public Provident Fund (PPF) Accounts can be made in the form of cash, cheque, online funds transfer from ICICI Bank Savings Account, and fund transfer from other bank accounts through NEFT.
Benefits of PPF account with ICICI Bank:
- Transfer funds online option from linked Savings Bank Account
- Standing Instruction facility to ensure regular investment
- Viewing your PPF Account statement online
Eligibility Criteria to Open an ICICI PPF Account:
- Any Individual who is a resident of India is eligible to open an account under the Public Provident Fund (PPF) scheme in ICICI. A PPF account in ICICI Bank may be opened under the name of a minor candidate by his/her legal guardian. Each person is eligible for only one PPF account under his/her name.
- Any individual who either a working employee or is a pensioner or self-employed or belongs to any other category can open a PPF account in an ICICI Bank.
What is the ICICI PPF Calculator?
This ICICI PPF calculator is easy to use financial tool that can help to perform even the most complicated PPF related calculations with ease. Using the online PPF calculator you can easily calculate the year-wise PPF returns.
How to use the ICICI PPF Calculator?
- ICICI PPF calculator calculates the interest for every year on the basis of the initial details given by you. You are required to choose the type of deposit (fixed amount or variable) and the amount deposited every year.
- It is assumed that you are depositing the amount on 1st April every year. Then the interest is calculated for the financial year based on the prevailing market rate.
- PPF interest calculator also gives you an estimate of the total amount of investment made by you till a particular year.
Understand the result of the Online ICICI PPF Calculator:
The result of the online ICICI PPF calculator includes a table displaying key data that current and prospective PPF subscribers need to be aware of:
Maturity Amount of PPF: This is the final earning from your PPF account after the total tenure.
Wealth Gain: It is the total interest gain over the complete tenure on your investments.
Loan Available: A loan repayable in 36 months can be obtained on or after the 3rd year, up to 25% of the balance at the end of the preceding financial year. The interest charged on the loan is 1 percent for the first 36 months, and thereafter, 6 percent on the outstanding amount. A second loan can be obtained before the end of the 6th financial year if the first one is fully repaid.
Withdrawal Available: There is a lock-in period of 5 years and the money can be withdrawn in whole after its maturity period. However, pre-mature withdrawals can be made from the end of the fourth financial year from when the PPF commenced. The maximum amount that can be withdrawn pre-maturely is equal to 50% of the amount that stood in the account at the end of the fourth financial year.
You are here to calculate the maturity value of your money in ICICI Bank’s Public Provident Fund (PPF) account. Calculate the maturity value with this online ICICI PPF calculator.
