Sukanya Samriddhi Yojana Calculator
What is Sukanya Samriddhi Yojana (SSY) Calculator?
The Sukanya Samriddhi Yojana (SSY) Calculator is a financial tool that helps guardians to calculate the investment made for the education and marriage of their girl child. As a part of the Sukanya Samriddhi Yojana (SSY), guardians can open a savings account to secure their future.
How to Calculate Sukanya Samriddhi Yojana?
You can calculate the future value of your Sukanya Samriddhi Yojana investment by using the below the formula:
FV = P (1 + r/n) ^ nt
Where:
- FV = Future Value
- P = Principal amount (annual deposit)
- r = Interest rate
- n = Number of years the money is invested
Here is an example for you to understand better:
- Suppose you invest 50,000 annually in the Sukanya Samriddhi Yojana with an interest rate of 8.2% for 15 years.
- P = Principal amount (annual deposit) = 50,000
- r = Interest rate = 8.2
- n = Number of years the money is invested = 15 years
- FV=50,000 (1+0.082)^15
The future value of your investment after 15 years will be ₹167,550.
How Does the BlinkX Sukanya Samriddhi Yojana Calculator Work?
You can use blinkX Sukanya Samriddhi Yojana calculator by entering the annual contribution, rate of return, and investment duration in the provided fields.
How to Use the Sukanya Samriddhi Yojana Calculator?
To calculate the maturity amount for Sukanya Samriddhi Yojana using the blinkX Sukanya Samriddhi Yojana (SSY) calculator, you can use the below steps:
- Step 1: Enter the amount you plan to contribute yearly.
- Step 2: Provide the expected annual interest rate offered to you.
- Step 3: Choose the number of years until maturity.
Lastly, click on the calculate button to see your maturity amount. Your maturity amount will be displayed on the screen.
Eligibility Criteria for Sukanya Samriddhi Yojana
Below is the eligibility criteria that you must keep in mind while investing in Sukanya Samriddhi Yojana:
- Only a parent or legal guardian of the girl’s child can open an account.
- The girl child must be less than the age of 10 years.
- The maturity tenure of the Sukanya Samriddhi Yojana scheme is until the girl reaches the age of 21 years.
- The minimum investment under Sukanya Samriddhi Yojana scheme is ₹250 per year
- The maximum investment Sukanya Samriddhi Yojana scheme is ₹150000 per year.
- Only one account is allowed for a girl child.
- A family can open only 2 SSY scheme accounts (exceptions for twins and triplets).
What are the Factors on which Sukanya Samriddhi Yojana Calculation Depends?
The key factors that impact the Sukanya Samriddhi Yojana calculation are:
- Yearly Contribution: The future value of the Sukanya Samriddhi Yojana depends on the total amount contributed by you each year. You can contribute the amount as per your finances, the minimum investment starts from ₹250 to a maximum investment of up to ₹150000 per year.
- Rate of Interest: The interest rate on the Sukanya Samriddhi Yojana is decided by the government.
- Duration of Investment: Duration of investment is the time period that you decide to invest in the scheme. For higher returns, you must select a longer duration of investment.
Benefits of a Sukanya Samriddhi Yojana Calculator
You can use the blinkX Sukanya Samriddhi Yojana calculator to enjoy the benefits such as:
- Easy to Calculate: blinkX Sukanya Samriddhi Yojana offers an easy-to-use calculator where you can enter all the details such as investment amount per year, and duration. Within a few seconds, the result will be displayed on the screen.
- Helps in Planning: Using a blinkX Sukanya Samriddhi Yojana helps you to plan for your daughter’s education or marriage in advance which helps in setting your financial goals without any burden.
- Easy to modify: According to your needs and financial requirements, you can modify the input fields such as investment amount, and duration to see the different outcomes.
- Informed Decision-making: using a blinkX Sukanya Samriddhi Yojana aids you in understanding the benefits of investing in Sukanya Samriddhi Yojana as compared to other schemes.
