Sukanya Samriddhi Yojana Calculator Post Office 2024: You can use the Post Office Sukanya Samriddhi Yojana (SSY) Calculator, a straightforward and user-friendly financial tool, to determine how much you would earn as maturity from your investment in the plan.
The Government of India introduced the small savings programme Sukanya Samriddhi Yojana in 2015 as a part of the Beti Bachao Beti Padhao initiative. The programme aims to incentivize parents to save aside money for their daughter’s future marriage and education.
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Contents
Key Features for Using Sukanya Samriddhi Yojana Post Office Calculator
The Sukanya Samriddhi scheme has specific qualifying requirements set by the government for investors. Among these requirements are:
| Particulars | Details | |
| Who can Apply | Only parents or the legal guardians of the girl child | |
| Interest Rates | 8.2% per annum for the financial year Q4 2023-24 | |
| Age Criteria | Girl child of less than 10 years of age | |
| Citizenship | The girl child must be a citizen of India | |
| No. of SSA Accounts | Maximum of 2 SSA accounts per family (Except in case of second girl child as twins or triplets). | |
| Number of Accounts | Family Composition | Maximum Number of Accounts Allowed |
| Single girl child | 1 | |
| Two girl child | 2 | |
| Single girl child + Twins | 3 | |
| Single girl child + Triplets | 4 | |
| Contribution Period | Maximum 15 years | |
| Maturity Period | Earlier of: 21 years or till the girl child’s marriage after she attains the age of 18. | |
| Minimum Deposit Amount | ₹ 250 | |
| Maximum Deposit Amount | ₹ 1.5 lakhs | |
| Taxability | Earlier of 21 years or till the girl child’s marriage after she attains the age of 18. | |
| Online Account Opening | Not available; standing instructions can be set after account opening. | |
Working of Sukanya Samriddhi Yojana Calculator – Post Office
You can use the Sukanya Samriddhi Yojana (SSY) Calculator, an online tool, to see how much of your investment in the SSY plan will mature. The following variables are considered by the calculator:
- Investment amount
- Interest rate
- Tenure
A = P(1+r/n)^nt
Terms used in Post Office SSY Calculator
- A: Is the final amount to be received by the girl child after the maturity of the scheme
- P: Amount to be invested every year
- R: The rate of interest
- T: The number of years for which the amount is being invested. In the case of the SSY scheme, it is for 21 years.
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Steps to Use Sukanya Samriddhi Yojana Calculator Post Office – 2024
- Step 1: First, use the Post Office SSY Calculator that is accessible via this website.
- Step 2: Type in the following data:
- Investment amount
- Interest rate
- Tenure
- Step 3: Select “Calculate” from the menu.
- Step 4: The maturity amount will be shown by the calculator.
Illustration:
If you make an investment under the following guidelines:
- Annual Investment Amount = Rs. 1,50,000
- You pay for = 15 years
- SSY current interest rate = 8.2%
- Maturity period = 21 years
The maturity amount after 21 years of investment = Rs. 69.28 lakhs.
Key Advantages of Using Post Office Sukanya Samriddhi Yojana Calculator
The following is a list of some of the many benefits of using the Post Office Sukanya Samriddhi Yojana Calculator:
- Simple to use: Anyone can use the SSY calculator, which is accessible to all users.
- Accuracy: It guarantees exact computations using the most recent regulations and interest rates.
- Planning: By examining several investment possibilities, the calculator facilitates efficient financial planning.
- No cost: It costs nothing to utilise the Post Office Sukanya Samriddhi Yojana Calculator.
- Accurate: The findings produced by the SSY calculator are trustworthy and accurate.
- Time-saving: You can save time and effort by using the calculator.
- Making decisions: The Post Office Sukanya Samriddhi Yojana Calculator facilitates the process of making well-informed choices on SSY investments.
- Comparison: Enables more informed decision-making by comparing with alternative investment possibilities.
- Modifications: Permits evaluation of the effects of altering investment parameters.
- Gains a better understanding of the benefits of the SSY system, particularly compound interest.
Points to Consider Before Using the Sukanya Samriddhi Calculator
Please take into account the following when calculating the final maturity amount using the SSY Calculator:
- Consistent Investment: The calculator makes the assumption that, during the duration of the plan, the same sum will be invested year.
- Investment Period: The first fifteen years are spent investing, and the last six years are devoted to interest gains alone.
- Constant Interest Rate: The interest rate stays the same as it did at the moment of investment for the duration of the plan.
- Annual Contributions: Annual contributions are made.
- No Withdrawals: Throughout the scheme’s whole life, there are no withdrawals.
Summing It Up
If you want to effectively plan and manage your investments under the scheme, the Post Office Sukanya Samriddhi Yojana Calculator is a useful tool. It gives you the ability to make well-informed decisions and ensure your daughters have a bright future thanks to its easy-to-use interface and accurate calculations.
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FAQs
Q. How is the Sukanya Samriddhi Yojana calculated at the postal office?
Ans: To calculate your expected profits from the SSY programme, use the Policybazaar Post Office Sukanya Samriddhi Yojana. The Sukanya Calculator requires three inputs: the girl’s age, the investment amount, and the current year.
Q. Why is using an SSY calculator recommended?
Ans: By displaying the possible returns on your investment for your daughter’s future, the calculator assists you in better managing your funds.
Q. What does SSY 5,000 a month mean?
Ans: You will invest Rs 60,000 a year if you put in Rs 5,000 a month. This means that a total of Rs 9,00,000 will be invested during a 15-year period. Interest would be earned of Rs 16,46,062. A sum of Rs 25,46,062 will be available upon maturity. October 29, 2023
Q. What is one thousand sukanya a month?
Ans: Monthly deposits are not required in any particular way. You can invest in smaller amounts throughout the year as long as the total adds up to at least ₹250, but SSY requires a minimum of ₹250 annually. Thus, ₹1000 a month, or ₹12,000 a year, would be a reasonable donation.
@MAN