In India, there are various schemes in place to make sure that the girl child is aware of her financial needs and receives all the focus that she needs. One of the most talked about schemes is Sukanya Samriddhi Yojana. The Sukanya Samriddhi scheme was launched as one of the schemes to remove social inequalities and educate the girl child. Sukanya Samriddhi Yojana was launched as part of the 'Beti Bachao Beti Padhao' campaign that aims to educate the girl child. SSY is a low-risk, tax-free investment option compared to other small savings schemes, giving the investor stability and peace of mind.

Ever since the announcement of the Sukanya Samriddhi Yojana (SSY), investing in this scheme has been really tempting. Even after this most people are confused about the amount they will receive at the maturity of the scheme. But to the rescue, there are many brokers, banks, and websites offering SSY Calculators that help calculate the amount an individual may receive at the time of maturity. Here you will find the basic details about the schemes along with the benefits you can get by using SSY Calculator.

Sukanya Samriddhi Yojana (SSY)

Sukanya Samriddhi Account is a scheme launched by the Government of India to help parents save for their daughter's futures. The scheme comes with an income tax benefit under section 80C and returns are tax-free as well. A minimum contribution of Rs 250 is mandatory in each financial year (and in multiples of Rs 100 thereafter). The maximum investment allowed per annum under SSY is Rs 1.5 lakh up to the end of the 15th year from the opening of the account. The maturity period of this scheme is 21 years.

The yearly interest rate applicable on balances in the Sukanya Samriddhi Yojana Scheme is not taxable if the requisite conditions are met.

Eligibilities for Sukanya Samriddhi Yojana Account

• The girl has to be an Indian Resident with a maximum age limit of 10 years

• A guardian can open an account for a girl child under 10 years of age.

• You can open a Sukanya Samriddhi Yojana account for only two girls in the same family.

What is Sukanya Samriddhi Yojana Calculator

Are you planning to invest in the Sukanya Samriddhi Yojana? If your answer is yes, the SSY calculator provides you with an easy way to find out the amount you will receive at maturity by entering some basic details. The Sukanya Samriddhi Yojana calculator is a very useful tool for investors who want to know the SSY amount they will receive at maturity. To use the calculator, you must meet the eligibility criteria of the scheme and also enter details like investment sum and age at which you wish to receive maturity proceeds. All these details must be entered correctly in order for you to get an accurate SSY payout.

Advantages of Sukanya Samriddhi Yojana Calculator

Determine the Maturity Amount: Sukanya Samriddhi Yojana Calculator is a smart tool that allows you to know exactly what you will get as the maturity value when the account matures. You just need to enter the age, amount invested, and rate of interest on which you want to calculate Sukanya Samriddhi Account returns with simple steps.

Customization: With the Sukanya Samriddhi Calculator, you can calculate the maturity value based on monthly or yearly investments. You can even set up the calculator to adjust your contribution amount depending on your income. The calculator also calculates the balance that will be available for withdrawals at different ages - 18 years old and 21 years old.

Accuracy: For those that know the basics, the Sukanya Samriddhi Yojana calculator is a quick, easy and accurate way to determine the correct amount of savings needed for their child’s future. Designed to be extremely accurate, it can help you determine the optimum amount of money to deposit in your daughter’s account over a given period of time along with the expected amount you will receive at the time of maturity.

Eliminate Loopholes: Manual calculation of the maturity amount in Sukanya Samriddhi Yojana is very time-consuming and cumbersome. One can use an online calculator to easily calculate the maturity value. It can eliminate the mistakes that can creep in if you calculate the maturity value manually. Also, it will save you time as you do not have to type the data manually, from your account statement.