SUKANYA SAMRIDDHI YOJANA is a small deposit scheme of Government of India under Prime minister Narendra Modi meant specifically for girls and was launched as part of Beti Bachao Beti Padhao campaign. This scheme is intended to meet the cost of education and the marriage of a daughter.
How to calculate the maturity value Sukanya Samriddhi yojana?
Sukanya Samriddhi Yojana (SSY) is a small deposit scheme for girls was launched as part of the campaign ‘Beti Bachao Beti Padhao’. One of the reasons why this scheme has become popular is because of the tax benefits. It comes with a maximum tax benefit of Rs 1.5 lakh under section 80C of the Income Tax Act. Furthermore, the interest and maturity amount exempt from tax.
If you are planning to invest in the scheme, you can use the Samriddhi Sukanya yojanas calculator to calculate the amount due at the end of the tenure. You can use the calculator to determine how much you can save about through this scheme for the education of girls is higher and / or marriage.
Who can use the calculator SSY?
To use this calculator, a person must meet the eligibility conditions Samriddhi Sukanya scheme. According to the rules, the following people are eligible to open an account Sukanya Samriddhi:
a) The age girls should not exceed 10 years
b) He must be a citizen of the Indian population
c) Account shall be opened for more than two girls in single family
How to use the calculator Samriddhi Sukanya
If you meet the eligibility conditions, the calculator will ask you to provide your child’s age / s and the amount you want to invest in a scheme. The minimum amount you can invest is Rs 1, 000 and the maximum is Rs 1.5 lakh in a single financial year. With effect from July 5, 2018, the government has reduced the minimum investment amount of Rs 250.
How the calculator works
Calculator, based on the number entered by you, calculate the approximate value to be received by you at maturity. This scheme will be due upon completion of 21 years from the date of account opening.
According to the rules of the scheme, the depositor is required to make deposits every year until the completion of 15 years from the date of account opening. Here, the calculator assumes that you have made all deposits every year in the same amount as chosen by you.
Between the 15th and the 21st, no deposits required to be made. However, you will get interest from deposits previously made. calculator takes into account the interest that will be received by you during the years.
What calculator show?
Depending on the information provided by you, the calculator will indicate the year in which the account matures, the maturity value, using the interest rate that the maturity value is arrived at. It also shows the break-up of the amount you can invest monthly in the schema.
While arriving at the maturity value, we have assumed an interest rate of 8.1 percent per year over the next 21 years as currently offered Sukanya Samriddhi yojana.
