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What Is the Union Bank of India PPF Calculator?
The Public Provident Fund (PPF) enjoys immense popularity in India, thanks to its attractive interest rates and tax-saving opportunities. With an initial investment of just Rs. 500, individuals can open a PPF account easily and create a substantial corpus over time.
You can open a PPF account with an authorised bank/financial institution. If you are looking to open a PPF account with Union Bank of India, you can use the Angel One Union Bank of India PPF calculator to plan your investments. This tool takes into account factors such as the annual investment amount, interest rates, and investment duration to provide an accurate estimation of your potential returns.
Further, the online Union Bank of India PPF calculator allows you to explore different investment amounts and durations, empowering you to evaluate various scenarios and tailor your savings strategy according to your unique financial goals. This flexibility enables you to make informed decisions and optimise your PPF investment to maximise your returns.
How Does a Union Bank of India PPF Calculator Work?
The online Union Bank of India PPF calculator helps you calculate the returns from your investment in a PPF scheme by considering the amount you plan to invest, the duration and the interest rate.
Do note that the PPF interest rate is pre-determined by the government and is subject to change every quarter. The applicable interest rate is pre-populated in the calculator. Also, the PPF tenure is fixed at 15 years with a maximum contribution limit of Rs. 1,50,000 yearly. Once the values are entered, the Angel One Union Bank of India PPF calculator will calculate your returns in just a few seconds.
What Is the Union Bank of India PPF Calculator Formula?
The Union Bank of India Bank PPF calculator formula is given below:
- F = P [({(1+i) ^n} -1) /i]
- Where,
- F is the maturity value of the PPF
- P is the annual instalments
- i is the interest rate
- n is the number of years
How To Use the Union Bank of India PPF Calculator Online?
The Union Bank of India PPF calculator is straightforward to use. Here’s how you can use the Angel One Union Bank of India PPF calculator online:
- Step 1: Navigate to the Union Bank of India PPF calculator on the Angel One website.
- Step 2: Enter your annual investment amount.
- Step 3: Since the interest rate and tenure are fixed, you don’t have to input the same.
Once done, the Union Bank of India PPF calculator will estimate the maturity value and also calculate your total investment amount and the total interest you can earn. Let’s look at an example to understand it better.
Suppose you invest Rs. 2,500 monthly (Rs. 30,000 annually). Considering the current interest rate is 7.1% annually, and the investment duration is 15 years. Then, the Union Bank of India PPF calculator will display the maturity value of PPF as Rs. 8,13,642, the total investment amount as Rs. 4,50,000, and the total interest as Rs. 3,63,642.
Benefits of Using a Union Bank of India PPF Calculator
Listed below are the primary benefits of the Union Bank of India PPF calculator:
- Easy accessibility and convenience: You can conveniently access the online Union Bank of India PPF calculator from anywhere. This online tool saves you valuable time and effort by eliminating the need to visit a branch in person.
- Accuracy: One of the key advantages of the Union Bank of India PPF calculator is its ability to provide accurate calculations. The online Union Bank of India PPF calculator generates precise estimates of returns, helping you make informed financial decisions.
- Comprehensive financial analysis: The Union Bank of India PPF calculator comprehensively analyses and calculates your PPF’s maturity amount, and interest income, enabling you to evaluate the financial viability of your investments.
- Free to use: The Union Bank of India calculator on Angel One is free to use and can be accessed multiple times.