Sukanya Samriddhi Yojana Calculator
Sukanya Calculator helps you calculate the interest and amount maturity.
Sukanya Samriddhi Calculator helps you calculate interest and maturity amount on your Sukanya Samriddhi Account. The tool takes your periodic contributions in Sukanya Samriddhi Account and tenure as 21 years and calculates the final amount and interest earned on your investments.
What is Sukanya Samriddhi Yojana?
Sukanya Samridhi yojana is a popular saving scheme started by government of India under the stewardship of Prime Minister Narendra Modi. Sukanya Samriddhi ( meaning Girls Prosperity) accounts are accounts available to save for a girl child . The money saved under the scheme is to provide for girl child’s education and marriage .The maturity period of the account is 21 years from the date of opening through partial withdrawals can be made once your child attains 18 years.Criteria for opening up the Samridhhi account are as follows
- It can only be opened for a girl child
- The account can only be opened by an Indian citizen /NRI or OIC card holder
- Account can be opened for a girl child before she turns 10
Key things you should know about Sukanya Samriddhi Account (SSA)
- Current Interest Rate: 8.6%
- Minimum Savings: ₹1000 per year
- Scheme Duration: 21 years
- Number of Accounts per girl child: 1
- Lock-in Period: 18 years, After that as well only partial withdrawl is possible.
- Tax Saving: ₹1.5Lacs under 80c
- Tax Treatment: It enjoys benefits under section 80/C
Benefits of Sukanya Samriddhi Calculator
- It calculates the exact value of your maturity amount and thus helps in planning your investment
- It gives you an idea of how much your money has grown by calculating and showing the interest earned for the period you had invested in this account
- You can always input different yearly deposit amounts and quickly visiualize how much your money will grow to
- It provides nice graphs and table to show how your money grown along time axis.
- No need to sit with those boring excels, apply formulas and get your data
FAQs About Sukanya Samriddhi Account (SSA)
- Does the interest rate remain fixed or it changes?
Interest rates on Sukanya Samriddhi yojana are reviewed every quarter and can change every quarter.
- How many Sukanya Samridhi accounts can i open?
You can open one account per girl child.
- At the end of the tenure who will get the credit of the money?
The money will be credited to the girl's account at the end of the term
- Which is better Sukanya Samridhi or PPF account ?
Sukanya Samridhi and PPF are fixed return schemes and are eligible for tax benefits under section 80 C. Currently SUkanya Samridhi account has higher interest rate than PPF so from interest point a view Sukanya Samridhi is better
How to calculate Sukanya Samriddhi Yojana Account interest and maturity amount ?
Just put in the investment amount that you put per year in the following form and it will give you year by year interest and maturity amount !!