Andhra Bank PPF Calculator

PPF Maturity Amount

Andhra Bank PPF Account is one of those savings options that gives you a good return with less risk. It comes with the tax benefits under the IT section 80(C). The interest earned is also totally exempt from income tax and the amount outstanding to the credit is fully exempt from Wealth Tax.  The PPF accounts are saving plans meant to help secure your money. However, calculating the interest rates and returns on your PPF account can be quite challenging. To make it easier for you, you can always use the Andhra Bank PPF account calculator.

What is Andhra Bank PPF Account?

The Andhra Bank PPF (Public Provident Fund) account is a government-imposed investment scheme aimed at providing long-term savings for people. Managed by Andhra Bank, this account offers alluring interest rates and tax benefits, making it a popular decision for people hoping to secure their monetary future. The PPF account has a lock-in time of 15 years, during which investors can make regular contributions and accumulate wealth. Moreover, the funds stored in the Andhra Bank PPF account are exempt from income tax under Section 80C of the Income Tax Act, making it an efficient tax-saving instrument. Generally speaking, the Andhra Bank PPF account serves as a protected and solid choice for people looking for stable returns and tax benefits over the long term.

How Does Andhra Bank PPF Calculator Work?

The Andhra Bank PPF calculator is a device designed to help people assess the development measure of their Public Provident Fund (PPF) investments. It works by considering different parameters, for example, the initial deposit, annual contributions, prevailing interest rates and the investment duration. 

Here's how the Andhra Bank PPF calculator typically works:

1. Input Parameters 

Users need to input specific details into the calculator, including the initial deposit amount, annual contribution amount, and the duration of the investment in years.

2. Interest Rate

The calculator considers the prevailing interest rate offered by Andhra Bank on PPF accounts. This interest rate is set by the government and is subject to change periodically.

3. Compounding Frequency

Depending on the calculator, users may need to specify how often the interest is compounded. In most cases, PPF interest is compounded annually.

4. Calculation

The calculator applies the compound interest formula to the input parameters to compute the maturity amount of the PPF investment. The formula takes into account the principal amount, interest rate, compounding frequency, and duration of the investment.

5. Maturity Amount

Once the calculations are complete, the calculator provides an estimate of the maturity amount that the investor can expect to receive at the end of the investment period.

What is the Andhra Bank PPF Calculator Formula?

The formula used by Andhra Bank PPF calculators to compute the maturity amount of PPF investments is based on the compound interest formula:

M = P * [(1 + r/n)^(nt) - 1]


  • M = Maturity amount
  • P = Principal amount (initial deposit)
  • r = Annual interest rate (as a decimal)
  • n = Number of times interest is compounded per year
  • t = Number of years

Example of Andhra Bank PPF Calculation

Suppose an individual opens a PPF account with Andhra Bank and makes an initial deposit of Rs. 50,000. The annual contribution is Rs. 10,000, and the prevailing interest rate is 7.5% compounded annually. Using the PPF calculator formula, the maturity amount after 15 years can be calculated.

= 50,000 [(((1+0.075)^15) - 1)/0.075]

= 50,000 * [(2.9957 - 1)/0.075]

= 50,000 * 26.6093

= Rs. 13,30,465

How to Use the Andhra Bank PPF Calculator?

It is easy to calculate the maturity amount of Andhra Bank PPF Account: The steps to take are as follows: 

  • Enter the investment amount in the PPF calculator. 
  • Now, the applicable rate of interest on the PPF account. 
  • Decide how many years you want to stay invested. The highest term of a PPF account is 15 years. However, it may be increased after completion in amounts of 5 years. 
  • Press the "Calculate" (or similar) button after adding all relevant information. 
  • The calculator shows the maturity amount, interest received, and other important information on your PPF account.

You can also use the PPF Calculator of ClearTax to easily calculate the returns of your investment in a PPF account. 

It's important to remember that certain calculators may have additional functions, such as analysing different investment situations or determining the monthly or yearly investment needed to achieve a particular maturity amount. 

Benefits of Using the Andhra Bank PPF Calculator

Using an Andhra Bank PPF (Public Provident Fund) calculator offers several benefits for individuals planning their long-term savings and investments. Here are some key advantages:

1. Accuracy 

PPF calculators provide accurate estimates of the maturity amount of your PPF investment. By considering factors such as the initial deposit, annual contributions, prevailing interest rates, and compounding frequency, these calculators offer reliable projections of future returns.

2. Financial Planning 

PPF calculators help individuals plan their finances effectively by allowing them to visualise the growth of their investments over time. By inputting different scenarios and adjusting variables such as contribution amounts and investment durations, users can create comprehensive financial plans aligned with their goals.

3. Informed Decision-Making 

By using a PPF calculator, individuals gain insights into the potential returns of their PPF investments. This information empowers them to make informed decisions about their savings and investment strategies, ensuring that their financial goals are realistic and achievable.

4. Comparative Analysis

PPF calculators enable users to compare the returns of PPF investments with other savings options or investment avenues. By evaluating different scenarios and comparing outcomes, individuals can determine which investment strategy best aligns with their risk tolerance and financial objectives.

5. Goal Setting

PPF calculators facilitate goal setting by providing clear projections of the future value of investments. Whether saving for retirement, education, or any other long-term goal, individuals can use PPF calculators to set specific targets and track their progress over time.

6. Convenience

Online PPF calculators offered by Andhra Bank and other financial institutions are easily accessible and user-friendly. Individuals can perform calculations from the comfort of their homes or offices, eliminating the need for manual calculations or complex spreadsheets.

Andhra Bank PPF Interest Rate 2024

The Public Provident Fund scheme offers a great interest rate on the invested amount. The current interest rate is 7.1%  per annum. The minimum investment amount is Rs.500, and the maximum investment amount is Rs 1.5 lakh per annum.It is important to remember that the Ministry of Finance sets the interest rate for PPF accounts, which Indian banks and post offices keep.  

Eligibility Criteria for Opening an Andhra Bank PPF Account

To open a PPF account with Andhra Bank, individuals must meet the following eligibility criteria:

  • Must be a resident of India
  • Must be 18 years of age or older
  • Can open an account individually or on behalf of a minor
  • Non-resident Indians (NRIs) are not eligible to open a PPF account with Andhra Bank
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