Sukanya Samriddhi Calculator

The Sukanya Samriddhi Yojana calculator is a financial tool designed to help individuals estimate the future value of investments made in the Sukanya Samriddhi Yojana scheme.

The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme launched by the Government of India as part of its "Beti Bachao, Beti Padhao" (Save the Girl Child, Educate the Girl Child) campaign. It is designed to promote the welfare and financial security of the girl child in India.

Under this scheme, parents or legal guardians can open an account in the name of a girl child under the age of 10 years. The account can be opened at any post office or authorised commercial bank in India. The scheme provides a higher interest rate compared to other government savings schemes, making it an attractive option for long-term savings.

To use the online Sukanya Samriddhi Yojana Calculator by Angel One, you typically need to input the following details:

• Annual Contribution: Enter the amount you plan to invest each year in the SSY account. It should meet the minimum contribution requirement set by the scheme.
• Girl Child's Age: Input the current age of the girl child for whom the SSY account is being opened. Remember that the account can only be opened for a girl child who is under 10 years old.
• Starting Year of Investment: Provide the year in which you plan to start investing in the SSY account.

After entering these details, the SSY Calculator by Angel One will perform the necessary calculations based on the interest rates applicable for different years and compound them. It will then display the estimated maturity amount, which includes both the principal amount invested and the interest earned over the years.

Using the SSY calculator by Angel One can give you an idea of the potential growth of your investment under the Sukanya Samriddhi Yojana scheme, allowing you to make informed decisions and plan your savings accordingly.

However, please note that the calculator provides an estimate, and the actual maturity amount may vary based on the interest rates and any changes in the scheme rules implemented by the government.

1. Accurate Estimation: The Angel One SSY Calculator helps you estimate the maturity amount of your investment accurately. By inputting the relevant details such as annual contribution, girl child's age, and starting year of investment, the calculator performs calculations based on the applicable interest rates and compounding. This enables you to have a clear idea of the potential growth of your investment.


2. Financial Planning: The calculator assists in financial planning by allowing you to assess the impact of different contribution amounts, investment durations, and interest rates on the maturity amount. You can experiment with various scenarios and make informed decisions regarding your savings strategy under the SSY scheme.


3. Time-Saving: The SSY Calculator by Angel One provides quick results within seconds. Instead of manually performing complex calculations, the calculator automates the process, saving you time and effort. It allows you to obtain instant estimates without the need for manual computations.


4. Stay Updated: The online SSY Calculator is often updated with the latest interest rates and scheme changes. This ensures that you have access to the most current information while calculating the maturity amount. It helps you stay informed about any revisions in the scheme rules and adjust your financial planning accordingly.
5. User-Friendly Interface: The Angel One SSY Calculator is designed to be user-friendly, requiring no technical expertise. It typically has simple input fields and clear instructions, making it easy for anyone to use it without facing any complexities or challenges.

Investments made in the Sukanya Samriddhi Yojana (SSY) scheme qualify for deductions under Section 80C of the Income Tax Act. However, the maximum deduction limit is set at Rs. 1.5 lakh.

Furthermore, the interest earned on the SSY account, which is compounded annually, is also exempt from tax under Section 10 of the Income Tax Act.

Additionally, when the SSY account matures or withdrawals are made, the proceeds obtained are exempt from income tax. This implies that the amount received upon maturity or partial withdrawals is not liable to be taxed.