Sukanya Samriddhi Yojana (SSY) Calculator: Your Child May Have 51 Lakh at Age 21
Reaching financial stability is a goal for most people, but it becomes even more crucial when it comes to securing a future for your children. The Sukanya Samriddhi Yojana (SSY) scheme is one such way to invest for your child’s future. With a high interest rate and a tax exemption of up to Rs. 1.5 lakh, it has become a popular choice among parents.
What is Sukanya Samriddhi Yojana (SSY)?
The Sukanya Samriddhi Yojana (SSY) is a savings scheme that is aimed towards financing the education and marriage of girl children in India. This scheme was launched as part of the ‘Beti Bachao, Beti Padhao’ campaign initiated by the Indian government. It offers high-interest returns along with tax benefits and is primarily designed for the girl child, who is the beneficiary of the account.
How Does the SSY Calculator Work?
The SSY calculator is a tool that helps you determine the amount you would need to invest to meet the desired corpus for your child’s future needs. Additionally, the calculator allows you to calculate the maturity and interest amount on investments made under the Sukanya Samriddhi Yojana (SSY) scheme.
Advantages of Using the SSY Calculator
The SSY calculator is a useful tool for parents who want to plan and invest for their child’s future. Benefits of using the SSY calculator include:
- Helps in determining the investment amount required to achieve the desired corpus
- Helps in calculating the interest earned on the principal
- Helps in knowing the maturity amount that will be received once the scheme tenure ends
How to Use the SSY Calculator?
Using the SSY calculator is a simple and straightforward process. Follow these steps to use the calculator:
- Visit the official website of the SSY scheme
- Select ‘SSY Calculator’ from the list of options
- Enter the amount you wish to invest and the desired tenure period
- Click on ‘Calculate’ to get the details of the maturity amount, interest amount, and investment amount required to achieve the desired corpus
The Sukanya Samriddhi Yojana (SSY) scheme is an excellent investment option for securing the future of a girl child. Parents can utilize the SSY calculator to plan and invest for their child’s future needs in an efficient and hassle-free manner. With competitive interest rates and tax benefits, the SSY scheme is a smart investment choice.