Sukanya Samriddhi Yojana Calculator

he Sukanya Samriddhi Yojana is a savings scheme launched in 2015 exclusively to help parents and guardians save up for the future of girl children in India. In this scheme, annual contributions are made for 15 years.

During this tenure, interest is paid on the amount invested. At maturity, the account holder can withdraw the accumulated corpus. A Sukanya Samriddhi Yojana calculator helps users estimate how much this maturity value could be.

Any user who intends to open an account under the Sukanya Samriddhi Yojana scheme can benefit from using the Research 360 SSY calculator. Typically, these are parents of girl children who are eligible for an SSY account under the scheme.

The eligibility criteria for the Sukanya Samriddhi Yojana are as follows.

• The parent or guardian of a girl child who is below the age of 10 (on the date of account opening) can apply under this scheme.
• Each girl child is eligible for one account only.
• IEach family is eligible for two SSY accounts only (i.e. one account per girl child, up to two children).
• Exceptions are allowed if a family has triplet daughters in the first birth or one daughter followed by twin daughters.

A Sukanya Samriddhi Yojana calculator primarily helps by offering some clarity about how investments in the scheme may grow over time. Parents of girl children start saving up for their daughters’ futures right from the day their children are born

Investments for girl children must be sufficient to cover various long-term big-ticket expenses like their education and marriage. So, parents and guardians of girl children can benefit from the Sukanya Samriddhi Yojana calculator by understanding how much an investment made today could grow over the next 21 years.

It also helps them plan their SSY investments smartly. For instance, if a parent wants to accumulate a corpus of Rs. 10 lakhs for their daughter’s higher education, they can use the SSY calculator to estimate how much to invest now to potentially obtain this corpus at the desired time.

Furthermore, by using this calculator, parents or guardians can also estimate the ideal investment amount and factor this into their tax planning exercise. This is because the Sukanya Samriddhi Yojana scheme also offers tax benefits for investors under section 80C of the Income Tax Act, 1961. So, the bottom line is that the calculator can be useful for investment planning, securing the future of girl children and also tax planning for the parents or guardians

The Sukanya Samriddhi Yojana calculator works on the principle of the future value of money. Once you submit the important details like the investment amount, year of investment and the age of the girl child, the calculator estimates the investment tenure and uses the prevailing Sukanya Samriddhi Yojana interest rate to find the maturity value of the amount invested

To find the final corpus amount, the Research 360 SSY calculator uses this formula:

A = P (1 + r/n)^nt

Here, A is the final maturity value, P is the initial investment amount, r is the SSY interest, n is the frequency of compounding and t is the investment period.

To use the Research 360 Sukanya Samriddhi Yojana calculator to your advantage, follow the steps outlined here:

• Step 1: Enter the annual investment amount.
• Step 2: Enter the age of the girl child.
• Step 3: Enter the year in which you wish to start investing in the scheme.
• Step 4: Submit all these details online.

The Sukanya Samriddhi Yojana calculator then uses the details provided to find the year of maturity, the total interest you will earn by that time and the maturity value.

If you have a daughter in your family and want to invest in their future, the Sukanya Samriddhi Yojana calculator can be an indispensable tool in your investment planning. Check out the top advantages of using this online calculator.

• Long-Term Financial Projections

  The Research 360 SSY calculator offers a clear picture of the maturity value and total interest earned over the investment period. This long-term projection helps parents plan effectively for their daughters’ futures after understanding the potential of their investment over 21 years.

• Customisable Analysis

  By allowing users to input the annual investment amount and the start year, the SSY calculator offers personalised results. Parents can experiment with different contribution levels and investment tenures to see how they may affect the final maturity value

• Ease of Use

  The Sukanya Samriddhi Yojana calculator is very easy to use, even for beginners. You simply need to enter some readily available information like the girl child’s age, the start year and the investment amount. This user-friendly interface is another advantage for interested investors.

• Free Calculation

  The Sukanya Samriddhi Yojana calculator on the Research 360 platform is available free of cost for everybody. All users can compute the SSY maturity value using this online tool without paying any additional charges whatsoever.

The primary aim of the Sukanya Samriddhi Yojana is to benefit girl children. So, the amount accumulated should be used for the benefit of the girl child for whom the account was opened. One of the best use cases is to further the education of the child. The scheme permits withdrawal of up to 50% of the corpus if the account holder has passed tenth grade or has

attained 18 years of age (whichever occurs first). These funds should be used for the girl child’s higher education.

Furthermore, the Sukanya Samriddhi Yojana also allows for withdrawal before the completion of 21 years if the account holder is to be married. In this case, the corpus should be used to fund the intended marriage.