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Sukanya Samriddhi Yojana Calculator – Secure Your Daughter’s Future
The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme designed exclusively for the girl child. It encourages parents or guardians to save regularly for their daughter’s future needs like education, marriage, or long-term financial security. With attractive interest rates and tax benefits, SSY offers a safe and rewarding investment option.
How Does the Sukanya Samriddhi Yojana Work?
- An account can be opened anytime after the birth of a girl child until she turns 10 years old.
- Parents or guardians deposit money annually for 15 years; the account matures after 21 years from opening.
- The scheme currently offers an interest rate of 8.2% per annum, compounded yearly.
- Deposits qualify for tax deductions under Section 80C, and the maturity amount is tax-free.
Understanding the Sukanya Samriddhi Yojana Calculator
Our SSY calculator helps estimate your savings growth over the scheme’s 21-year period by considering:
- Annual Contribution (P): The yearly amount deposited into the SSY account.
- Interest Rate (r): The prevailing annual interest rate (currently 8.2%).
- Investment Duration: Contributions are made for 15 years; interest accrues for 21 years.
- Child’s Age at Account Opening: Influences the maturity timeline.
How the SSY Calculator Works
The calculator applies compound interest on each annual deposit separately for the number of years it remains in the account. Early deposits earn interest longer (up to 21 years), while later deposits earn less time.
Example: Projected Returns Using the Sukanya Samriddhi Calculator
| Annual Deposit | Starting Age | Total Investment | Interest Earned | Maturity Amount |
|---|---|---|---|---|
| ₹50,000 | 5 | ₹7.5 Lakhs | ₹10.7 Lakhs | ₹18.2 Lakhs |
Why Use the Sukanya Samriddhi Yojana Calculator?
- Plan Effectively: Forecast the maturity amount to fund your daughter’s higher education or marriage.
- Tax Benefits: Understand tax savings under Section 80C and tax-free returns.
- Adjust Contributions: Visualize how varying your annual deposits impact final savings.
- Simplified Calculations: No need for manual math; the calculator does the heavy lifting.
Additional Benefits of Sukanya Samriddhi Yojana
- Partial Withdrawal: Up to 50% can be withdrawn after the girl turns 18 for education or marriage expenses.
- Account Transferability: The account can be transferred across banks or post offices anywhere in India.
- Safe Investment: Backed by the Government of India, ensuring principal safety and steady returns.
The Sukanya Samriddhi Yojana calculator is a valuable tool that empowers parents to secure their daughter’s financial future with confidence. By estimating maturity amounts and understanding tax benefits, families can plan smartly for long-term goals.
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