Invested amount | ₹ |
Total interest | ₹ |
Maturity value | ₹ |
PPF accounts are one of the many savings schemes offered by the Andhra Bank. Being a nationalized bank, one can apply for this scheme in any one of its branches. A PPF account in Andhra Bank provides loan benefits, nomination facility, and tax exemptions to the depositors. One can make use of the Andhra Bank PPF Calculator to calculate the return on their PPF account upon maturity. Though a PPF account can’t be opened online in this bank, the offline process of applying is simple and quick.
The Public Provident Fund PPF scheme is an efficient investment scheme that allows investors to maintain a retirement corpus by contributing towards the account either by making monthly or lump-sum payments. PPF scheme comes with a mandatory lock-in period of 15 years during which the investors cannot close their accounts. PPF has become one of the most preferred investment options nowadays owing to the attractive interest rate that it offers, along with the tax benefits under section 80C of the Income Tax Act. Furthermore, depositors are also provided with the facilities of loans, an extension of account in blocks of 5 years after maturity, etc. With the help of PPF calculator of Andhra Bank, one can easily calculate the year-wise PPF returns with ease.
It’s a handy tool that can help you in performing the most complicated PPF related calculations in a fraction of seconds. With the help of this PPF calculator, you can easily calculate the year-wise PPF returns you can earn by contributing to your PPF account over a fixed time period and with a specific frequency.
The PPF interest is calculated on a monthly basis based on the pre-determined rate of interest decided by the government. However, the interest is credited to the account at the end of the financial year.
PPF Calculation Formula for Andhra Bank
PPF returns are calculated with the help of following formula:
F = P [({(1+i) ^n}-1)/i]
The variables used in the formula represents the following–
The PPF account calculator for Andhra Bank provides an estimate of interest earned, maturity value for a given amount invested and investment period. This estimation of the returns earned at the end of the investment period helps you know whether the investment option chosen matched with your financial goal or not.
Steps to use the Calculator are as follows: