Public Provident Fund runs on a 15-year clock, and the single most-searched question about it is blunt: "what will I actually have at the end?" At the current 7.1% rate with maximum ₹1.5 lakh yearly deposits, the answer is ₹40,68,209. Below is the full year-by-year schedule, the math behind it, and every rule that changes the endpoint — extension, partial withdrawal and deposit timing.
The 15-year maturity chart (₹1.5L/year @ 7.1%)
| Year | Deposit | Interest | Closing balance |
|---|---|---|---|
| 1 | ₹1,50,000 | ₹10,650 | ₹1,60,650 |
| 2 | ₹1,50,000 | ₹22,056 | ₹3,32,706 |
| 3 | ₹1,50,000 | ₹34,272 | ₹5,16,978 |
| 4 | ₹1,50,000 | ₹47,355 | ₹7,14,334 |
| 5 | ₹1,50,000 | ₹61,368 | ₹9,25,701 |
| 6 | ₹1,50,000 | ₹76,375 | ₹11,52,076 |
| 7 | ₹1,50,000 | ₹92,447 | ₹13,94,524 |
| 8 | ₹1,50,000 | ₹1,09,661 | ₹16,54,185 |
| 9 | ₹1,50,000 | ₹1,28,097 | ₹19,32,282 |
| 10 | ₹1,50,000 | ₹1,47,842 | ₹22,30,124 |
| 11 | ₹1,50,000 | ₹1,68,989 | ₹25,49,113 |
| 12 | ₹1,50,000 | ₹1,91,637 | ₹28,90,750 |
| 13 | ₹1,50,000 | ₹2,15,893 | ₹32,56,643 |
| 14 | ₹1,50,000 | ₹2,41,872 | ₹36,48,515 |
| 15 | ₹1,50,000 | ₹2,69,695 | ₹40,68,209 |
Total deposited ₹22.5 lakh; interest earned ₹18.18 lakh — all of it tax-free. Verify your own amount/tenure in the PPF Calculator, which generates this schedule for any deposit.
Smaller deposits: the two other schedules people ask for
- ₹1 lakh/year for 15 years @7.1%: maturity ≈ ₹27.12 lakh (deposits ₹15L, interest ₹12.12L).
- ₹50,000/year for 15 years @7.1%: maturity ≈ ₹13.56 lakh (deposits ₹7.5L, interest ₹6.06L).
Interest scales linearly with deposits, but time is non-linear: the same ₹1.5L/year run for an additional 5-year extension (20 years total) reaches roughly ₹66.8 lakh — the last five years alone add ₹26 lakh.
How the interest actually accrues
PPF interest is computed monthly on the lowest balance between the 5th and the last day of the month, then credited at year-end (March 31). Two consequences: (1) deposit your annual contribution before April 5 to earn a full year’s interest on it — a lump sum on April 1 versus March 31 next year is a difference of roughly ₹10,000 over 15 years at maximum contribution; (2) monthly deposits earn interest from their own month onward, not retrospectively.
At year 15: your three options
- Full withdrawal: the entire balance including interest, tax-free, with the account closed.
- Extend without deposits: continue earning the prevailing rate for as long as you like, with one withdrawal of up to 60% of the balance per extension block (5 years), within the first year of each block... effectively a withdrawal-friendly parking account.
- Extend with deposits: keep contributing up to ₹1.5L/year in 5-year blocks via Form H — the compounding in years 16–20 is the most powerful of the entire timeline (see the ₹66.8 lakh figure above).
Premature exit and loans
Partial withdrawal is allowed from the 7th year: up to 50% of the balance at the end of the 4th preceding year (or the preceding year, whichever is lower) — typically for education, medical or housing needs. Full premature closure is permitted only in specific cases (life-threatening illness, higher education, etc., per the 2016 relaxation) with a small interest penalty. Between years 3 and 6, you can instead take a loan against PPF (up to 25% of the year-3 balance) at 1% over the PPF rate — cheaper than a personal loan. Full rules and the tax picture: the complete PPF guide, and for comparing with NPS/EPF see NPS vs PPF vs EPF.