**ICICI PPF Interest Rate 2022** – ICICI is one of those banks which are offering high PPF interest rate. The ICICI PPF account interest rate fluctuates from year to year. In 2018, it was 7.9%, while in 2019, it was 8%. It has been declining since then. It was 7.9% in 2020.

Currently, ICICI Bank PPF Interest rate is 7.1%. An Investor gets the compound interest on annual basis in the ICICIC PPF Account. In case of maturity extension, the latest interest rate is applied.

## What is Compound interest?

Compounding interest in PPF Account is the interest that is computed on the initial principal and the interest accrued from the previous periods. Compound interest (which is considered to have emerged in 17th-century in Italy) is “interest on interest”. It might enable an amount to grow at a faster rate than simple interest, which is calculated solely on the principal amount.

### ICICI PPF Interest Calculation Formula

The formula below can be used to calculate potential returns of ICICI PPF interest rate calculator

In this,

- A is the maturity amount.
- P denotes the amount invested in PPF Account.
- r = PPF interest rate
- n = the investment’s duration

## ICICI PPF Interest Rate 2022

In 2022, ICICI Bank is providing 7.1% interest rate on PPF Account. The interest rate is subject to change annually as per the regulations which are made by Ministry of Finance. The entire interest rate of PPF is comes under the section 80C of PPF Tax exemption.

Time Period | PPF Interest Rate (per annum) |
---|---|

April 2020 – March 2022 | 7.1% |

July 2019 – March 2020 | 7.9% |

July 2018 – June 2019 | 8.0% |

January 2018 – June 2018 | 7.6% |

Tenure | 15 years (Can be renewed in blocks of 5 years) |

Interest rate | 7.1% |

Investment Amount | Minimum Rs.500, Maximum Rs.1.5 lakh p.a. |

PPF Loan amount | Up to 25% of Balance (until a specified period) |

Maturity Amount | Depends on the investment tenure |

## ICICI PPF Interest Rate Calculation Chart Example

For a better understanding of how much you can earn from ICICI Bank PPF interest, we have provided a example below:

If Aloma starts investing in ICICI PPF Account with Rs 1 lakh per annum and she invests for a total of 15 years (PPF Lock-in Period). During this term, if the ICICI PPF account interest rate 2022 remains 7.1%, then her interest for each year and maturity amount will be as per table chart given below:

Year | Opening PPF balance (in Rs.) | Investment (in Rs.) | Interest received (in Rs.) | Closing balance (in Rs.) |
---|---|---|---|---|

1 | 0 | 1,00,000 | 7,100.04 | 1,07,100 |

2 | 1,07,100 | 1,00,000 | 14,704.08 | 2,21,804 |

3 | 2,21,804 | 1,00,000 | 22,848.12 | 3,44,652 |

4 | 3,44,652 | 1,00,000 | 31,570.32 | 4,76,222 |

5 | 4,76,222 | 1,00,000 | 40,911.72 | 6,17,134 |

6 | 6,17,134 | 1,00,000 | 50,916.48 | 7,68,050 |

7 | 7,68,050 | 1,00,000 | 61,631.52 | 9,29,682 |

8 | 9,29,682 | 1,00,000 | 73,107.48 | 11,02,789 |

9 | 11,02,789 | 1,00,000 | 85,398.00 | 12,88,187 |

10 | 12,88,187 | 1,00,000 | 98,561.28 | 14,86,748 |

11 | 14,86,748 | 1,00,000 | 1,12,659.12 | 16,99,407 |

12 | 16,99,407 | 1,00,000 | 1,27,757.88 | 19,27,165 |

13 | 19,27,165 | 1,00,000 | 1,43,928.72 | 21,71,094 |

14 | 21,71,094 | 1,00,000 | 1,61,247.72 | 24,32,342 |

15 | 24,32,342 | 1,00,000 | 1,79,796.24 | 27,12,138 |

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## FAQs Related to ICICI Bank PPF Interest Rate 2022

### Can I enhance my PPF investment by creating two or more accounts in my name?

No. A person can only have and run one account in his or her name under the Public Provident Fund Scheme.

### Can I set up a PPF account with my wife or child?

No. The ICICI PPF account interest rate system does not allow you to have PPF accounts jointly. A person can only have and run one account in his or her own name.

### What is interest rate of PPF in ICICI Bank?

As per latest ICICI PPF Interest Rate 2022, the bank provides 7.1% compound interest on the amount deposited in account.