Andhra Bank Sukanya Samriddhi Yojana Calculator

How Does The Andhra Bank Sukanya Samriddhi Yojana Calculator Work?

The Andhra Bank Sukanya Samriddhi Yojana Calculator uses the compound interest formula. Compound interest is the method of calculating returns on both the original amount invested and accumulated earnings over time. The tool applies the formula to the following details submitted by a user to provide the expected amount at maturity:

• Annual contribution
• Daughter’s age
• Starting year

The Compound Interest formula used by the calculator is given below:

A = P(1 + r/n)^(nt)

The variables in the formula are defined in the table below:

Investment

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How To Use The Andhra Bank Sukanya Samriddhi Yojana Calculator?

Andhra Bank does not offer a calculator for the Sukanya Samriddhi Yojana. However, you can use Policybazaar’s SSY calculator to plan your investment in the scheme.

Here are the steps to follow for using the SSY calculator:

• Step 1: Scroll to Policybazaar’s SSY calculator available on this page above
• Step 2: Enter your investment details such as annual contribution, daughter’s age and starting year in the calculator.
• Step 3: The calculator auto-applies the current SSY interest rate and provides the following results:
• Maturity amount after 21 years
• Maturity year for your scheme
• Total interest earned over the period of investment

Andhra Bank Sukanya Samriddhi Yojana Calculator Illustrations

Here are some investment scenarios illustrated with the help of Policybazaar’s Andhra Bank SSY Calculator.

Example 1:

• Annual deposits: ₹40,000
• Girl’s age: 4 years
• Starting year: 2026

When you enter the above values in the SSY calculator, the tool applies the current SSY interest rate and gives the following outputs:

• Total investment: ₹6,00,00
• Interest earned: ₹13,15,232
• Maturity amount: ₹19,15,232
• Maturity year: 2047

Example 2:

• Annual deposits: ₹50,000
• Girl’s age: 3 years
• Starting year: 2028

After considering the above inputs and applying the current SSY interest rate of 8.2%, the SSY calculator will display the following results:

• Total investment: ₹ 7,50,000
• Interest earned: ₹ 16,44,040
• Maturity amount: ₹ 23,94,040
• Maturity year: 2049

Benefits Of Andhra Bank Sukanya Samriddhi Yojana Calculator By Policybazaar

Here are some benefits of using Policybazaar’s SSY calculator for your financial planning:

• You can get quick estimates for your planned investment amount.
• The SSY calculator is free to use and easily accessible online.
• The tool saves you from manual errors, helping you make data-backed investment decisions.
• A simple and user-friendly interface makes it accessible to a wide range of users.