FINANCIAL CALCULATORS
Atal Pension Yojana (APY) Calculator
Calculate your Atal Pension Yojana benefits and monthly contributions.
What is the Atal Pension Yojana (APY) Calculator & How does it work?
The Atal Pension Yojana (APY) is a government scheme in India aimed at providing pension benefits to low-income individuals. It allows participants to invest a fixed amount every month, which grows over time through interest, and provides a monthly pension after retirement.
The calculation of the final pension depends on the monthly investment amount, the rate of interest, and the duration for which the investment is made. The formula to calculate the future value (FV) of an annuity, which is a series of equal payments made at regular intervals, can be used here.
FV = P times frac{(1 + r)^n – 1}{r}
FV = Future Value
P = Monthly Investment Amount
r = Monthly Interest Rate (annual rate divided by 12)
n = Total number of payments (years multiplied by 12)
P = Monthly Investment Amount
r = Monthly Interest Rate (annual rate divided by 12)
n = Total number of payments (years multiplied by 12)
Parameters
Result—
Frequently Asked Questions
How much should I invest monthly in APY?
The minimum investment amount for APY is ₹1,000 per month.
What is the interest rate for Atal Pension Yojana?
The interest rate for APY is 8% per annum, compounded annually.
How long do I need to invest in APY to get a pension?
You can start receiving the pension after completing 360 months of contributions.
Can I withdraw money from my APY account before retirement?
No, you cannot withdraw money from your APY account until you complete 360 months of contributions.
How is the pension amount calculated in APY?
The monthly pension is calculated based on the final corpus accumulated and is paid for a maximum of 120 months after retirement.
Is there an upper limit to how much I can invest in APY?
Yes, the maximum amount you can invest per month under APY is ₹10,000.
What documents are required to open an APY account?
You need a valid Aadhaar card and a bank account linked with your Aadhaar for opening an APY account.
Results are for informational purposes only and do not constitute professional advice.