Sukanya Samriddhi Yojana Calculator 2022 ,Get 72 lakhs on Maturity

Sukanya Samriddhi Yojana Calculator 2022

The Excel-based Sukanya Samriddhi Yojana Calculator calculates your maturity amount and return of investment. This deposit scheme . Which was first launch in 2015, has been very popular with girl children. It focuses on higher education and marriage.

Here are the basics of an SSY account:

  • Sukanya Samriddhi Accounts can be open at any post office or designate branches of authorize bank.
  • This account is only open to girl children under 10 years old (as of the account opening date).
  • Only 2 girls can open the account. A third account may be open in rare cases, where the depositor is blessed with three or more girl children.
  • Sukanya Samriddhi accounts can only be open by Indian residents.
  • This scheme allows you to receive an income tax credit under section 80C for investments made in it.
  • For the study of a girl child, partial withdrawals up to 50% are allow after 18 years.

More Suggestion : What Is Tinkathia System During British Rule In India?

Sukanya Samriddhi Yojana – Investment Rules

  • The account must be open within 14 years. The account matures 21 years after account opening, or when the girl marries.
  • Maximum deposit limit per account per financial year is Rs 1.5 Lakh
  • To keep your account active, you must deposit at least Rs 250 per annum
  • Every quarter , the Government of India declares the interest rate
  • Annual compounding of interest
  • Only the lowest balance between the close of tenth and end of each month will be taken into account for calculation of interest. To get interest in a month, you must deposit money before the 10th of each month.

Sukanya Samriddhi Yojana Calculator

To estimate how much you can expect to receive at maturity, download the Excel-based Sukanya Samriddhi Yojana Calculator. As interest rates change each quarter, the maturity amount will give you an idea of what to expect at maturity.

Sukanya Samriddhi Account (PPF), Senior Citizens’ Savings Program, and PPF are small savings schemes sponsor by the Government of India. They are very popular, due to their safety, higher interest rates, and other benefits. You can use our calculator to check the maturity amount, eligibility for loan, partial withdrawal, and many other details. To access the calculator, click on the links.

How does Sukanya Samriddhi Yojana Calculator work?

Also, It is very easy to use the Sukanya Samriddhi Account Calculator. As you can see, the calculator looks as in the image below. Only orange cells can be enter. You only need to complete the SSY account opening and annual contribution.

Sukanya Samriddhi Yojana (SSY): Tax benefits, Interest rate, Eligibility & Benefits

So, You can also edit the annual contribution in case it changes over time. Every quarter, the interest rate for Sukanya Sanghi Yojana gets revise. I recommend that you take the . Average annual interest rate for one year and place it in “Average Yearly Interest Rate”. Therefore, This will give an approximate value for the maturity amount. The example below shows that if you make Rs 1.5 lakhs each year for 14 years, then you can expect to receive Rs 72 lakhs upon maturity (assuming 8.5% annual interest).

These are the assumptions that will be used to calculate the calculator.

  • This amount is deposit at the beginning of each financial year.
  • This example is worth 1.5 lakhs per year. However, it can be modified in the calculator.
  • The contribution is valid for 14 years, and it will be refund after 21 years.
  • The interest rate for future years is 8.5% (can be modifier in the calculator).


Related Articles

Leave a Reply

Your email address will not be published.

Back to top button