Sukanya Samriddhi Yojana Calculator - SSY Calculator Online 2019

Sukanya Samriddhi Yojana Calculator - SSY Calculator Online 2019

Sukanya Samriddhi Yojana (SSY) is a small deposit scheme for the girl child launched as a part of the ‘Beti Bachao Beti Padhao’ campaign. One of the reasons why this scheme has become popular is due to its tax benefit.
It comes with a maximum tax benefit of Rs 1.5 lakh under section 80C of the Income-tax Act. Further, the interest accrued and maturity amount are exempt from tax.

If you are planning on investing in the scheme, you can use the Sukanya Samriddhi Yojana calculator to calculate the maturity amount at the end of the tenure. You can use the calculator to find out how much you can approximately save via this scheme for the daughter’s higher education and/or marriage.
To use this calculator, one must satisfy the eligibility conditions of the Sukanya Samriddhi scheme. According to the rules, the following people are eligible to open a Sukanya Samriddhi account:

a) Age of girl child should not exceed 10 years
b) She should be a resident citizen of India
c) Account cannot be opened for more than two girl children in a single family

How can an SSY calculator help you? 

The Sukanya Samriddhi Yojana is long-term investment scheme that can generate high ROI. You have to make a minimum contribution each year to keep the account active.

Hence, using a Sukanya Samriddhi Yojana calculator online is beneficial to have an overall assessment of your investments and returns.

How the calculator works
The calculator, based on the amount entered by you, calculates the approximate value that will be received by you at maturity. The scheme will mature after the completion of 21 years from the date of opening of the account.

According to the scheme rules, a depositor is required to make deposits every year till the completion of 15 years from the date of opening of account. Here, the calculator assumes that you have made all the deposits every year of the same amount as selected by you.

Between the 15th year and 21st year, no deposits are required to be made. However, you will be earning interest on the earlier deposits made. The calculator takes into account the interest that will be accrued to you during those years.
How to use Groww’s SSY Calculator Online? 

Just enter the investment amount per year, age of your girl child, and investment starting year.
          
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The calculator will automatically display the maturity year and the amount you receive upon maturity after you enter the details.
Advantages of using Groww Sukanya Samriddhi Yojana Scheme Calculator

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