Sukanya Samriddhi Yojana Calculator

The Sukanya Samriddhi Yojana calculator is an online tool that helps legal guardians to calculate their returns on the investments made towards the SSY account for a specific period. The Indian government reviews the SSY’s interest rate quarterly and changes it based on economic and other domestic factors. Hence, legal guardians planning to save over time for their girl child must plan the overall investment wisely. With the Sukanya Samriddhi Yojana calculator Economic Times, users can easily plan their savings to maximize returns.

The SSY calculator determines the amount you will get as returns based on the SSY interest rate and the maturity period. Since the SSY calculator calculates the final returns at maturity, it helps legal guardians know how much they have to invest annually at the current interest rate. 
 

The Sukanya Samriddhi Yojana calculator is an innovative online tool with unique features to help legal guardians plan their investments and accumulate adequate funds at maturity. You can use the Sukanya Samriddhi calculator in various ways to estimate the returns. The Sukanya Samriddhi Yojana return calculator helps parents project the returns on their investments for their daughter's future. 

Here are some of the advantages of the Sukanya Samriddhi scheme calculator: 
 

●  You can use the calculator to know the exact amount you will get at maturity based on the current interest rate and monthly or yearly investment. 

●  The online calculator can help to calculate how much you should invest monthly or yearly to get a specific amount at the time of maturity. 

●  The Sukanya Samriddhi account calculator is an online tool that you can access easily through a laptop, tablet, or mobile phone anywhere and anytime to calculate returns. 

●  The calculator is a free and unlimited tool to calculate the returns on your Sukanya Samriddhi Yojana account.
 

The prerequisite to using the Sukanya Samriddhi account calculator is to open the Sukanya Samriddhi Yojana account by a legal guardian for a girl child. Legal guardians can only open the Sukanya Samriddhi Yojana account for their girl children if they and the girl child fulfil the following criteria: 

●  The girl child, for whom the legal guardians are opening the account, must be an Indian citizen. 

●  The legal guardian can only open the Sukanya Samriddhi Yojana account for a girl child below the age of 10. 

●  The legal guardians can only open the Sukanya Samriddhi Yojana account for a maximum of two girl children from the same family. 

●  The legal guardians should have all the necessary documents, such as the girl child’s birth certificate, depositor’s identification documents, and a medical certificate in case of multiple children’s birth under a single birth, etc. 
 

The Sukanya Samriddhi Yojana account’s interest rate varies based on diverse economic factors. Thus, it becomes difficult to pinpoint how much the SSY account will give as returns at maturity. 

Most legal guardians open the account right from the girl child’s birth and invest in the account until maximum maturity, which is 21 years. Therefore, you must know how to use the Sukanya calculator to calculate the overall returns at maturity and set an ideal monthly or annual investment account. By using the Sukanya Samriddhi Yojana return calculator, users can make informed decisions to optimize their savings.

The Sukanya calculator uses the following formula to calculate returns on the invested amount: 

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

Here, 

A = Compound Interest, 
P = Principal Amount,
r = Current Rate of Interest,  
n = The number of times the interest compounds in a year,
t = The number of years.

While using the calculator, you must ensure that you know all but one of the factors mentioned above to calculate the missing factor. 
 

5paisa’s Sukanya Samriddhi Yojana calculator, or the SSY calculator, allows you to easily and accurately calculate returns on the investments made in the Sukanya Samriddhi Yojana account over a specific period. If you want to calculate returns on the Sukanya Samriddhi Yojana account, here is how you can effectively use the 5paisa’s Sukanya Samriddhi Yojana calculator. The monthly Sukanya Samriddhi Yojana calculator allows parents to calculate their monthly contributions toward their daughter's future savings.

Step 1: Visit 5paisa’s website and navigate to the Sukanya Samriddhi Yojana calculator page. Use the sliders available on the calculator page to fill in the details of all the factors necessary to calculate returns at maturity. 

Step 2: Use the slider for the “Yearly Investment” to set how much you are planning or investing as the yearly amount in your Sukanya Samriddhi Yojana account. 

Step 3: Use the slider for the “Girl’s age” to set how old the girl’s child is. Remember that the girl’s child should be below the age of 10 while opening the Sukanya Samriddhi Yojana account. 

Step 4: Select the “Start Period” by using the slider to set the year from which you have started to invest in the Sukanya Samriddhi Yojana account. The slider automatically positions itself at the current year (if not set at a previous year) and shows returns for 21 years (the maturity period). 

Step 5: Once you put all the factors using the slider, the Sukanya Samriddhi Yojana calculator will show details such as total investment, interest, maturity year, and the final maturity value. 
 

5paisa has designed its monthly Sukanya Samriddhi Yojana calculator to be user-friendly with numerous industry-best features to help in calculating the returns on the Sukanya Samriddhi Yojana account. When you use the 5paisa’s Sukanya Samriddhi calculator, you get the following features and benefits: 

●  Free Of Cost: The 5paisa’s Sukyanya Samriddhi Yojana calculator is entirely free of cost and does not charge anything to the user for calculating returns. 

●  Quick Results: The calculator designed by 5paisa uses advanced algorithms to offer returns within seconds. All you have to do is use the sliders to set the factors, and the calculator presents results in real time. 

●  Accuracy: Owing to the advanced algorithms used by 5paisa for the calculator, the quick results are accurate to allow the user to understand the return potential without any mistakes. 

●  Ease: Almost all websites ask for personal information to sign up or log in to access the available tools. However, 5paisa’s Sukanya Samriddhi Yojana calculator does not ask you to provide personal information to create an account before accessing the calculator. 

●  Regular Updates: The Indian government reviews and updates the interest rates and other factors for the SSY. 5paisa’s calculator ensures that the calculative factors, such as the interest rates, are regularly updated to provide the most accurate results. 

●  Flexibility: 5paisa has designed the calculator to work across mobile, PC, tablet, or laptop for easier access anytime and anywhere.
 

You must first be qualified for the Sukanya Samriddhi Yojana Scheme in order to utilize the Sukanya calculator. The eligibility requirements for the scheme are as follows:

-Only accounts opened in the girl's name under the Sukanya Samriddhi scheme may be opened by a parent or legal guardian.

-The girl child has to live in India till her SSA account matures.

-Under the program, families with two girls may open a maximum of two accounts.

-If the second girl child is a twin, the parents are able to register a third account.

-The girl child's age during account opening shall not exceed ten years old.

-Once the girl kid reaches the age of 18, the SSY account starts to operate.

-For 15 years, contributions between ₹250 and ₹1.5 lakhs must be made every year to maintain the account's activity.

Once your account has been opened under this plan, you can access the Sukanya Samriddhi Yojana online calculator. The Sukanya Samriddhi return calculator is an essential tool for estimating the returns on your investment in the scheme.
 

When the girl kid reaches adulthood, she can withdraw the full corpus. After the following documents are generated, this can be completed:

1. Application for withdrawal

2. A legitimate address and confirmation of ID Evidence

3. The Citizenship Record

If the girl child has completed her 10th grade and turned 18 years old, the withdrew corpus may be used to cover her college costs. The money is solely available to cover the cost of the fee and admission. In order to demonstrate that the funds are being used for educational purposes, the depositors must provide proof of university admission and fee receipts.

Early withdrawal to cover wedding costs is permitted as long as the girl is at least eighteen. The youngster will have to present an affidavit attesting to her status as a major. By using the Sukanya Samriddhi return calculator, you can plan for your daughter's future with greater financial clarity.