SSY Calculator
Expected Annual Returns (%)
Total Investment-- Rs. 0.00
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Expected Annual Returns (%)
Total Investment-- Rs. 0.00
Expected Amount-- 0.00
Wealth Amount-- Rs. 0.00
You want to save for your little girl's future, but you're not sure how much you need to set aside each month. Don't worry, we've got you covered. Use our Sukanya Samriddhi account calculator to find out how much you need to invest each month to secure your child's future.
Sukanya Samriddhi account is one of the most popular investment options for parents looking to save for their girl child's education and future. This account offers a high rate of interest, and the best part is that it can be opened by anyone, regardless of their income level.
Use our Sukanya Samriddhi account calculator to see how much you need to save each month to achieve your financial goals. With a little planning and discipline, you can easily secure your girl child's future with a post office Sukanya Samriddhi account.
What Is the Sukanya Samriddhi Account Calculator?
The Sukanya Samriddhi Account Calculator is an online tool that helps you figure out how much money you need to invest with the Sukanya Samriddhi Account scheme. It's a hassle-free way to get an estimate of your maturity value, and it only takes a few minutes to use.
All you need to do is provide some basic information like monthly investment, tenure and interest rate. You'll get a breakdown of your total investment, interest amount gained and total maturity value.
This calculator is a great way to get started on saving for your girl child's future. Use it to see how much you can afford to save each month, and find out if the Sukanya Samriddhi Account is the right investment for you.
How does Sukanya Samriddhi Yojana Calculator work?
The Sukanya Samriddhi Yojana Calculator is simple and easy to use. To calculate the maturity amount, you need to enter the following information
- Deposited amount
- Interest rate
- Number of years
Once you have entered the above information, the calculator will automatically calculate the maturity amount. The maturity amount is calculated based on the compound interest formula, where interest is earned on the deposit amount for the specified number of years.
Benefits of using Sukanya Samriddhi Yojana Calculator
There are several benefits of using the Sukanya Samriddhi Yojana Calculator, including:
- Convenient: The Sukanya Samriddhi Yojana Calculator is available online, and investors can access it from anywhere at any time.
- Accurate: The calculator provides accurate and reliable results, which helps investors to make informed investment decisions.
- Time-saving: The calculator saves time as investors do not have to perform manual calculations to determine the maturity amount.
- Easy to use: The Sukanya Samriddhi Yojana Calculator is simple and easy to use, even for those who are not familiar with finance or mathematics.
Conclusion
When it comes to your child's future, it's important to start planning as early as possible. A post office Sukanya Samriddhi account calculator can help you get a better idea of how much you need to invest each month to reach your goal.
Remember, the earlier you start saving, the more you can potentially save. So don't wait - start planning for your child's future today!
FAQs
Q. Is SSY better than PPF?
You may be wondering whether Sukanya Samriddhi Yojana (SSY) is better than the Public Provident Fund (PPF). The answer is generally ‘yes’, because both schemes comes under tax exempt, but SSY have substantially higher interest rates.
Q. Can a child have 2 SSY account?
You might be wondering if a child can have more than one Sukanya Samriddhi account. Unfortunately, the answer is no. According to the rules provided by the Indian government, one girl child can have only one Sukanya Samriddhi Yojana account in her name.
Altogether, it would make more sense for a family to just open one SSY account for their daughter and then use a Sukanya Samriddhi calculator online or offline in order to maximize their returns.
Q. What is the interest rate of SSY in 2023?
Well, the rate of interest is capped by the government and is reviewed quarterly. As of 2023, it’s 7.6%, but this could change in the future.
It doesn’t hurt to double check the latest changes before investing your money with a SSY Account calculator tool and keep track of your investments. A calculator tool will also help you accurately estimate your returns over time and ensure that you’re on track for financial freedom!
Q. What is the age limit for SSY?
You should open an SSY account for your daughter any time before she turns 10 years of age and keep contributing to it until she attains 21 years of age.
Q. Is it manadatory to deposit every month in SSY?
The answer to that question is: not necessarily. You can deposit money into the account at any time, but it’s encouraged to make regular deposits for a longer period of time for higher returns.
However, a minimum amount of INR. 250 should be contributed in a financial year.
Q. How many deposits can I make in SSY?
In SSY, one of the most convenient advantage is you can make any number of payments in a month or financial year. This helps you to save more and whenever you've excess funds.
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