How to use the Ponmagan scheme calculator
- Enter the boy's age now (0 to 17).
- Enter the yearly deposit (₹500 to ₹1.5 lakh).
- Keep the current PPF rate of 7.1% or test another rate.
- Choose 15 years or add 5-year extensions.
- Read the maturity value, the interest, his age at maturity and the year-wise balance.
How the Ponmagan scheme works
A parent or guardian opens a PPF account in the boy's name and operates it until he turns 18. Deposits of ₹500 to ₹1,50,000 a year earn the PPF rate, worked out monthly on the lowest balance between the 5th and the month end and credited on 31 March. The account matures after 15 years.
Example: for a boy aged 5, ₹50,000 a year at 7.1% grows to ₹13,56,070 after 15 years, of which ₹6,06,070 is interest. He would be about 20. With one 5-year extension and deposits continuing, it reaches ₹22,19,429 when he is about 25.
Maturity at 7.1% by yearly deposit
| Yearly deposit | 15 years | 20 years | 25 years |
|---|---|---|---|
| ₹12,000 | ₹3,25,457 | ₹5,32,663 | ₹8,24,641 |
| ₹50,000 | ₹13,56,070 | ₹22,19,429 | ₹34,36,005 |
| ₹1,00,000 | ₹27,12,139 | ₹44,38,859 | ₹68,72,010 |
| ₹1,50,000 | ₹40,68,209 | ₹66,58,288 | ₹1,03,08,015 |
PPF for a boy and Sukanya Samriddhi for a girl
The same yearly deposit in each. PPF at 7.1% over 15 years; Sukanya Samriddhi at 8.2% with deposits for 15 years and maturity after 21. See the Sukanya Samriddhi calculator for a girl's account.
| Yearly deposit | PPF (15 years) | SSY (21 years) |
|---|---|---|
| ₹12,000 | ₹3,25,457 | ₹5,74,570 |
| ₹50,000 | ₹13,56,070 | ₹23,94,040 |
| ₹1,50,000 | ₹40,68,209 | ₹71,82,119 |
Rules at a glance
- A PPF account opened by a parent or guardian for a minor boy; he takes it over at 18.
- Deposit ₹500 to ₹1,50,000 a financial year, across the guardian's and the minor's PPF together.
- Interest at the PPF rate, 7.1% for Oct–Dec 2026, compounded yearly and tax-free.
- Matures after 15 years; extendable in 5-year blocks. Partial withdrawals from the 7th financial year.
- Open at any post office or authorised bank. See the PPF calculator for an adult's account.
Frequently asked questions
What is the Ponmagan scheme?
Ponmagan Podhuvaippu Nidhi (Podhu Vaippu Nidhi is Tamil for Public Provident Fund) is the name used by post offices in Tamil Nadu for PPF accounts opened for boys. It is not a separate scheme with its own rules: the account is a PPF account opened by a parent or guardian in the boy's name.
What is the Ponmagan scheme interest rate?
The PPF rate, currently 7.1% a year for October–December 2026, compounded yearly. The Ministry of Finance sets it every quarter for all small savings schemes. Rates of 9.7% or 7.6% quoted on some websites are not the current PPF rate and may be outdated.
How much can I deposit in a Ponmagan account?
₹500 to ₹1,50,000 each financial year, in one go or in parts. The ₹1,50,000 limit covers the guardian's own PPF and any PPF opened for a minor, taken together.
When does a Ponmagan account mature?
After 15 full financial years, like any PPF account. It can then be extended in blocks of 5 years. A boy who is 5 at opening would be about 20 at maturity, or 25 with one extension.
Can it be opened outside Tamil Nadu?
The Ponmagan name is used in Tamil Nadu, but a PPF account for a minor can be opened at any post office or authorised bank branch in India by a parent or guardian. The rules and the rate are the same.
Is the Ponmagan scheme tax-free?
Yes. As a PPF account it has exempt-exempt-exempt status: interest and maturity are tax-free, and in the old tax regime deposits qualify for the deduction under Section 123 (earlier 80C), within the overall ₹1,50,000 limit.
How does it compare with Sukanya Samriddhi?
Sukanya Samriddhi is only for girls up to age 10 and currently pays 8.2%, against 7.1% on PPF. SSY takes deposits for 15 years and matures after 21; PPF matures after 15 and can be extended.