Sukanya Samriddhi Yojana Calculator Excel Download | सुकन्या समृद्धि योजना कैलकुलेटर | Sukanya Samriddhi Yojana Calculator Online | SSY Calculator Interest Rates

Investors considering putting their money into the Sukanya Samriddhi Yojana (SSY) can use the SSY calculator to determine the expected maturity value at the end of the investment term. In the following article, we will provide a comprehensive guide on using the SSY calculator and calculating the maturity value after 21 years.

We will also cover the advantages and drawbacks of using the SSY calculator and the eligibility requirements and necessary documents for the SSY plan. This information will be helpful for individuals who are interested in investing in the SSY scheme and want to make informed decisions based on their financial goals and risk tolerance.

## Sukanya Samriddhi Yojana Calculator

- Sukanya Samriddhi Yojana, also known as SSY, is a small savings scheme launched by the Government of India in 2015 under the “Beti Bachao, Beti Padhao” campaign, which is considered to be one of the most successful campaigns run by the current government. The SSY account can be opened at post offices and public and private sector banks. The government of India determines the interest rate every quarter, with the current interest rate from April to June 2022 being 7.60 percent.
- The minimum and maximum annual investment amounts for SSY are INR 250 and INR 1.5 lakh, respectively. The account holder is required to contribute a minimum of INR 250 each year for 15 years to maintain the account. Annual returns are credited to the history and can be withdrawn when the girl reaches age 21 or gets married, whichever happens first.
- When the girl reaches the age of 18, up to 50 percent of the funds can be withdrawn for her higher education. For the subsequent three years, only the remaining balance will accrue interest. Premature withdrawal of funds is only permitted in case of the child’s death or if the child requires life-threatening medical care. Additionally, the SSY account will not accrue interest after the scheme expires.

### Sukanya Samriddhi Yojana Calculator Benefits

- SSY is a savings plan for the girl child launched by the Government of India in 2015.
- The interest rate for the April to June 2022 period is 7.60 percent.
- The minimum and maximum annual investment amounts are 250 and 1.5 lakh INR.
- You must maintain the account for at least 15 years and invest a minimum of INR 250 annually.
- The account will get the annual returns; you can take the money when the girl turns 21 or is married.
- You can also take up to 50% of the funds for the girl’s education at 18, but only the balance amount will gain interest for the next three years.
- Premature withdrawal is only allowed in case of the infant’s death or life-threatening medical conditions.
- The SSY calculator is a helpful tool for knowing the exact maturity value of the account.
- It can eliminate errors in manual calculations and is easy to use online.
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#### Sukanya Samriddhi Yojana Calculator Eligibility

By using the SSY calculator, anyone who is considering investing in an SSY plan can determine the amount they can expect to receive when the plan expires. For anyone to use the SSY calculator, they must meet the requirements set out in the program’s eligibility criteria.

- Applicant girls must be Indian citizens.
- Ages over 10 are not accepted.
- Only 2 girls can benefit from a family.

#### Sukanya Samriddhi Yojana Calculator: SSY Calculator Assumptions

The Sukanya Samriddh SSCi Calculator calculates how much you will get back based on the amount you put into the scheme. Therefore, you can calculate the amount due based on the time and use that information to plan your child’s future. **Rashtriya Puraskar Portal**

The Sukanya Samriddhi Yojana Calculator makes many assumptions for this calculation, such as:

- An investor deposits the same amount every year.
- After the 15th year, there is no deposit until the 21st year. Therefore, the Sukanya Samriddhi calculator calculates the interest based on the funds already invested.
- During the 21 years of the SSY program, the interest rate has remained the same: 7.6%.
- On April 1st of each year, make a full-year deposit.
- The first day of each month is the time to deposit.
- In 21 years, you cannot withdraw any money.

### SSY Calculator Example to Understand

The calculator should ask for the girl’s age and the amount to be invested. The minimum amount you can invest in the scheme is Rs 250 and up to Rs 150,000.

**For example**, the Srinaths invested in Sukanya Samriddhi Yojana when their daughter Nitya was born.

They contribute INR 50,000 per year for 14 years. They don’t take any money out of the plan while it’s running.

At the current interest rate of 7.60%, a total investment of INR 700,000 will earn a total interest of INR 14,14,196 after 21 years. By the time Nitya turns 21, the investment will be worth Rs 21,14,196.

#### SSY Calculator Working

- The calculator shows that your daughter in the program is no less than 2015.
- An annual investment of at least Rs 250 must be shown. Up to Rs 150,000. You can choose the amount you pay each year.
- That’s it, Maturity Completion Investments will appear on the screen.
- For example, if one chooses 2015, an investment of Rs 105,000 will yield 65,93,071 in 2036.

#### Formula to Calculate the Interest

Below, you can see the formula: This is the compound interest formula for calculating interest

**A = P(r/n+1) ^ nt**

Here,

- T – Interest accumulated over time.
- P represents the main amount.
- r is the interest rate.
- n is the number of times interest is added to itself in a given year.
- It shows how many years have passed.

Let’s look at an example to explain how this formula works:

Suppose Mrs. Sharma puts rupees. 50,000 people enter Sukanya Samriddhi Yojana every year. She kept the money for 14 years. She also did not withdraw any money during the program’s 21 years.

#### Sukanya Samriddhi Yojana Account Providers

- Axis Bank
- State Bank Of India (SBI)
- Central Bank Of India (CBI)
- Bank Of Maharashtra (BOM)
- Bank Of India (BOI)
- Bank Of Baroda (BOB)
- Punjab National Bank (PNB)
- Union Bank of India
- Vijaya Bank
- Indian Overseas Bank (IOB)
- Indian bank
- IDBI Bank
- ICICI Bank
- UCO Bank
- Punjab And Sind Bank (PSB)
- Dena Bank
- Canara Bank

SSY application forms can also be obtained from post offices.

#### Lock-in Period of Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana has a 21-year commitment period. Additionally, those who put in the funds must invest at least once a year for 14 years to keep the account active. The minimum amount you can deposit into your account is Rs 250 per year. Also, up to Rs. 1,50,000 can be invested in a financial year.

But after the 15th year, you can choose not to deposit any more funds into the SSY account until the 21st year. The Sukanya Samriddhi Yojana Account will continue to earn interest at the rate previously used for investments. Therefore, the final amount at the end of the program will be added to the interest earned.

#### How SSC Calculator Helps

The SSC calculator is only for those who want to invest in this program. It can help you determine how much your girl will receive at the end of the program term.

So, this calculator saves potential investors from doing a lot of math.

This calculator is free to use and can be found online for the convenience of investors.

#### Disadvantages of the Sukanya Samriddhi Yojana Calculator

Although the Sukanya Samriddhi Yojana Calculator is very simple and useful, some factors work against it.

- If set incorrectly, inaccurate results may be returned.
- Even if the government has set a maximum of Rs. For an annual investment of 150,000, the calculator does not limit the annual investment; therefore, if you enter an investment of more than Rs. 150,000, the calculator will still calculate the expiration value.
- The interest rate in the calculator remains the same, if it changes then you have to do all the calculations yourself.

Calculators assume a lot of things, and if you don’t understand those assumptions, then you have a hard time calculating.