We have designed the excel based Sukanya Samriddhi Yojana Calculator which calculates the maturity amount and return on investment for your investment. The scheme was launched in 2015 and since then has become is very popular deposit scheme for girl child especially focusing on their higher education and marriage.
Below are some basic rules for SSY Account:
Download the excel based Sukanya Samriddhi Yojana calculator to estimate the amount you can expect at the time of maturity. The maturity amount would give you a rough idea as the interest rates change every quarter.
Small saving scheme sponsored by Government of India like Sukanya Samriddhi Account, PPF, Senior Citizens’ Savings Scheme are quite popular and rightly so because of the safety, higher interest rate offered among other things. We have built calculator for each of them where you can check the maturity amount, loan eligibility, partial withdrawal and more. Click on the links to get the relevant calculator
Sukanya Samriddhi Yojana Calculator
Senior Citizens’ Savings Scheme Calculator
Post Office Fixed Deposit (Time Deposit) Calculator
The Sukanya Samriddhi Account Calculator is easy to use. The calculator looks like in the picture below. You can only input orange cells. All you need is to fill up the SSY account opening year and annual contribution.
In case the yearly contribution varies over time, you can edit that too. The interest rate for Sukanya Samriddhi Yojana is revised every quarter. I would recommend taking average for a year and put it in “Average Annual Interest Rate”. This will give you approximate value of the maturity amount. As shown in the example below, if you deposit Rs 1.5 lakhs every year for 14 years, you can expect to get Rs 72 lakhs at maturity (assuming 8.5% interest every year)
Following are the assumptions for the calculator:
Do you know how much tax you need to pay for the year? Have you taken benefit of all tax saving rules and investments? Should you use the “NEW” tax regime or continue with the old one? In case you have all these questions just Download the Free Excel Income Tax Calculator for FY 2021-22 (AY 2022-23) and get your answers.
The Sukanya Samriddhi Yojana Account can be opened for a girl child under 10 years of age by their parents or legal guardian. The account can only be opened for 2 girl children. Third account can be opened in exceptional cases where the depositor was blessed with 3 girl children at the first birth or twin girl children at the second birth.
One girl child can have only one account. Also any parents can only open maximum two accounts for each girl.
Download the Sukanya Samriddhi Yojana Account calculator. You need to just input your annual contribution amount and it gives the maturity amount. You can also edit contribution and interest rate for each year to suit your situation.
The Sukanya Samriddhi Yojana Account matures at 21 years from date of opening. The investor has to invest for first 14 years and can withdraw after 21 years.
The investment in Sukanya Samriddhi Yojana is eligible for tax deduction under section 80C of Income Tax Act.
The minimum deposit amount is Rs 250 for a year and the maximum limit is Rs 1.5 lakhs each year.
The amount received by the girl child at the time of maturity is completely tax free.
The interest rate is 7.6% for the month of April to June 2020. Do remember that the interest rates is revised every quarter by Government of India.
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Thanks for the information.. I would like Sushil Finance to make this a part of their excellent the financialy well being.. program. It will surely create awareness.
i would like to go forward about .“Sukanya Samriddhi Yojana pls clarity whether PLI OR “Sukanya Samriddhi Yojana is best for saving girl children
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