Sukanya Samriddhi Yojana (SSY) Calculator
Calculate SSY (Sukanya Samriddhi Yojana) Total Investment, Total Interest, Maturity Year
What is SSY Calculator?
Sukanya Samriddhi Yojana or SSY is a saving scheme specially for girl children backed by the Government of India. It was launched under the campaign of ‘Beti Bachao, Beti Padao’ back in 2015. Only the parents or the legal guardian of a girl can be eligible to open and operate an SSY account.
Under this scheme, the maximum investment amount can be 1.5 Lakhs in a financial year where the minimum will be Rs 250.
One has to understand that this special saving account can be open before the child attains her 10 years of age, and the maturity period will be 21 years of her age or until the child maries after she turns 18 years.
Why use a SSY Calculator?
An SSY calculator is an online platform to calculate the maturity amount and determine how much savings is there for your child.
As India is still a developing country, an initiative like SSY really provides help towards middle-class population to meet the expanses of their daughter's education and marriage. On the other hand, any investor can claim up to 1.5 Lakhs Rs from his contribution to this scheme under section 80C of IT Act. So calculating all these factors altogether is a hectic process and it can lead to human error.
By using this calculator a user will have a clear picture about the outcome and can properly design his investment based on the result.
Advantages of using SSY Calculator :
There are numbers of reason why one should use a online SSY calculator, here are some,
- Give a proper idea about how much you save for your child.
- Can help to plan the investment.
- Helps to identify tax exempted amount.
- Human error is eliminated.
- Break up modulation helps to understand percentage of total investment and total earned interest.