Sukanya Samriddhi Yojana Calculator Excel Download | SSY Calculator Online, Interest Rates | सुकन्या समृद्धि योजना कैलकुलेटर |
Nowadays so many people are investing to get better benefits, so one of them is Sukanya Samridhi Yojana Calculator, here in this Scheme candidates can click every single details where to invest and what will be the circumstances, they can easily calculate the result which will be given to them. Here we will share all the important details regarding this Scheme, such as benefits, procedure to use or apply, eligibility, features and discuss the calculator for the Sukanya Samriddhi Yojana, pros and cons, pros and cons of the SSY calculator and so many other details too, kindly read this article carefully.
Sukanya Samridhi Yojana Calculator 2023
We all know that investment is becoming one the most common way to earn, even every single person is doing this, children also because they are more smarter them others. On the other hand, you can also say this is another method to save money, so the Government of India has launched this Scheme which is called Sukanya Samridhi Yojana Calculator.By the age of 18, up to fifty percent of the funds can be used for the girl’s higher education. Here all the netizens who are making investment can calculate the actual money which is coming after investment, and the interest rate is set quarterly by the government Indian. So, we need to calculate the most recent calculations for the period from April to June in the year of 2023 the actual annualized interest rate will be 7.60 percent.
Sukanya Samridhi Yojana Calculator Benefits
- There are several benefits to the Sukanya Samriddhi Yojana calculator and that they are:
- It permits you to realize precisely what you’ll get because the adult hood fee whilst the account matures.
- If you’ve got to set it up in an excel sheet then you could installed what you need to make investments within side the contemporary and spot how it’ll have an effect on the adulthood fee when the account matures.
- You may even installation of the calculator to calculate the adulthood fee primarily based totally on month-to-month or every year investments.
- If configured correctly, the Sukanya Samriddhi Yojana calculator 2023 may beextraordinarily accurate.
- It can get rid of the errors which can creep in in case you calculate the adulthood fee manually.
- You can also change the amount quantity you intend on making an investment at any time and nevertheless get the maturity in seconds.
Eligibility of Sukanya Samridhi Yojana Calculator
- By making use of the SSY calculator, every bodywho’sthinking about making an fundingwithinside the SSY scheme can also additionallydecide the sum that they are able tocount on receiving whilstwhen the account reaches its maturity.
- The applicant Girl Childneed to be a citizen of India.
- Age of Girl Child is neededbelow 10 years, Above 10 years girlsaren’t accepted
- Only 2 girl Child of a familymay have this scheme advantage.
Sukanya Samridhi Yojana Calculator Assumptions
- The Sukanya Samriddhi Yojana calculator makes a number of assumptions to perform this calculation such as:
- A person who invests saves the same amount every year. After the 15th year there are no more deposits until the 21st year, so the Sukanya Samriddhi calculator calculates the interest based on the amount of money already deposited.
- During the 21 years that the SSY scheme is in place, the interest rate remains the same: 7.6%.
- Every year on April 1st is paid for the whole year.
- Deposit are only made on the months start
- You have not been able to withdraw money for 21 years.
Sukanya Samridhi Yojana Calculator Example To Understand
- For example, Mr. and Mrs. Malhotra spend money on Sukanya Samriddhi Yojana while their daughter Disha is born.
- They make contributions INR 50,000 everyyear for 14 years.
- They don’t take any cash out of the scheme at the same time as it’s running.
- At the cutting-edgefee of 7.60 percent, the wholefunding of INR 7 lakh could earn a complete of INR 14,14,196 in hobby after 21 years. By the time Nitya is 21, the cost of the funding at its ceasecould be INR 21,14,196.
Sukanya Samridhi Yojana Calculator Working
- It allows you to know exactly what the maturity value will be when the account expands.
- You can also configure the calculator to calculate the maturity value in quarterly or yearly installments.
- When set up correctly, the Sukanya Samriddhi Yojana Calculator can be very accurate.
- The calculator can eliminate errors that can occur when calculating the maturity value manually.
Formula To Calculate Interest in SSY Calculator
This is compound interest formula to calculate interest under SSY Calculator
A = P(r/n+1) ^ nt
- T- Interest that builds up over time.
- P stands for the main amount.
- r is the interest rate.
- n is the number of How many times interest is added to itself account in a particular year.
Lock In Period of Sukanya Samriddhi Yojana
- The Sukanya Samriddhi calculator calculates how much money you will get back based on how much you have invested in the plan. Therefore, you can calculate the amount due based on the time period and use this information to plan for your child’s future. Anyone considering an investment in the SSY program can use the SSY Calculator to determine the amount they can expect to make when the program matures.
- The minimum you can deposit into the account each year is Rs 250. Also, the maximum you can invest in a tax year is Rs 150,000. But after the 15th year, you will not be able to deposit funds into the SSY account until the 21st year.
- The Sukanya Samriddhi Yojana account will continue to earn interest at the rate used for previous investments. Therefore, the final amount will be added to the earned interest at the end of this plan.
How SSC Calculator Helps us
It allows you to know exactly what the maturity value will be when the account expands.
You can also configure the calculator to calculate the maturity value in quarterly or yearly installments.
When set up correctly, the Sukanya Samriddhi Yojana Calculator can be very accurate.
The calculator can eliminate errors that can occur when calculating the maturity value manually.
Disadvantages of Sukanya Samriddhi Calculator
- Even if there are several benefits & advantages of SSY Calculator but there are some also minor Disadvantages if it is setted up wrong way.
- The interest rate stays the same in the calculator, and if it changes, you have to do all the calculations yourself.
- Although the government has set a maximum of Rs.5 lakh for annual investments, calculators do not limit annual investments So if you enter an investment of more than Rs.5 lakh, the calculator will still calculate a maturity value.
- If the calculator isnot configured properly, it can provide inaccurate results.