Sukanya Samruddhi Yojana (SSY) Calculator Online

A Sukanya Samruddhi Yojana (SSY) Calculator is an essential tool for parents looking to estimate the maturity value of their investments in the SSY scheme. By inputting variables such as the annual contribution, interest rate, and investment period, you can get an accurate projection of your investment's future value. This helps in making informed decisions and securing your daughter's financial future.

What is Sukanya Samruddhi Yojana (SSY)?

The Sukanya Samruddhi Yojana (SSY) is a savings scheme launched by the Government of India as part of the 'Beti Bachao Beti Padhao' campaign. It is designed to encourage parents to save for their daughters' education and marriage expenses. The scheme offers attractive interest rates, tax benefits, and ensures the financial security of the girl child.

How to Use the Sukanya Samruddhi Yojana Calculator?

Using the Sukanya Samruddhi Yojana Calculator on Credyfi is simple and straightforward. Follow these steps:

• Enter the Annual Contribution:

  Input the total amount you plan to invest annually in the SSY.

• Enter the Interest Rate:

  Provide the annual interest rate for the SSY.

• Enter the Investment Duration:

  Specify the duration of the investment in years (up to 21 years).

• Calculate:

  Click on the calculate button to get your estimated maturity amount.

Example Calculation

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Calculation Formula

The formula to calculate the maturity amount of an SSY investment is:

Where:

• P = Annual contribution
• r = Annual interest rate
• n = Number of times interest is compounded per year
• t = Number of years

Benefits of Using an SSY Calculator

• Financial Planning

  An SSY Calculator is an essential tool for financial planning. By projecting the future value of your SSY investment, you can set realistic financial goals for your daughter's education and marriage.

• Compare Investment Options

  The calculator allows you to compare the SSY with other savings schemes by inputting various interest rates and investment durations. This helps you choose the best investment based on your financial goals.

• Quick and Accurate Results

  Manual calculations can be time-consuming and prone to errors. An SSY Calculator provides quick and accurate results, ensuring you have reliable information to make informed decisions.

Features of Sukanya Samruddhi Yojana (SSY)

• Attractive Interest Rates

  An SSY Calculator is an essential tool for financial planning. By projecting the future value of your SSY investment, you can set realistic financial goals for your daughter's education and marriage.

• Tax Benefits

  Investments in SSY are eligible for tax deductionseligible for tax deductions under Section 80C of the Income Tax Act. Additionally, the interest earned and the maturity amount are tax-free.

• Flexible Contribution

  Parents can make flexible contributions to the SSY account, with a minimum of ₹250 and a maximum of ₹1,50,000 per financial year.

• Long-term Investment

  The SSY scheme has a long-term investment horizon of 21 years, ensuring substantial growth of the investment through compounding.

• Secure Investment

  As a government-backed scheme, SSY ensures the safety and security of your investment, making it a reliable option for parents.

• Partial Withdrawal Facility

  Partial withdrawals are allowed from the SSY account after the girl child turns 18, helping in meeting education or marriage expenses.

How to Open an SSY Account?

• Visit a Bank or Post Office

  SSY accounts can be opened at designated bank branches and post offices. Fill out the application form and submit it along with the required documents and the initial deposit.

• Required Documents

  To open an SSY account, you need to provide:
  • Birth certificate of the girl child
  • Proof of identity (Aadhaar, PAN card, Passport, etc.)
  • Proof of address (Utility bills, Aadhaar, Passport, etc.)
  • Recent passport-sized photographs

• Modes of Payment

  You can make contributions to your SSY account through cash, cheque, demand draft, or digital payments via net banking or mobile banking apps.

Conclusion

A Sukanya Samruddhi Yojana (SSY) Calculator is an indispensable tool for parents looking to invest in their daughters' future. By providing accurate projections of future returns, it helps in effective financial planning and informed decision-making. Use our SSY Calculator on Credyfi to estimate your investment’s future value and maximize your returns. Whether you are planning for your daughter's education or marriage, understanding how your investments grow can significantly impact your financial success. Start planning your investments today and secure your daughter's future with confidence.