Sukanya Samriddhi Yojana is a scheme of Government of India. Which has been started for girls as a part of ‘Beti Bachao Beti Padhao’ campaign. This scheme is a small deposit scheme and offers huge tax benefits, which is why this scheme has become popular among Indian citizens. 1.5 lakh is applicable as tax benefit on Sukanya Samriddhi Yojana. Friends today we will get information about Sukanya Samriddhi Scheme Calculator through this article.
Sukanya Samriddhi Scheme Calculator
Government of India launched Sukanya Samriddhi Yojana to enhance the welfare of the girl child. Established in 2015 under the Beti Bachao Beti Padhao campaign, it is a small savings scheme. Along with covering a range of girl child expenses, the scheme also guarantees a large amount of compensation as well as tax exemption on accrued interest and maturity amount. And, this is where the Sukanya Samriddhi Yojana Calculator comes in handy.
Sukanya Samriddhi Yojana Eligibility
Once the investor has determined all the eligibility for Sukanya Samriddhi Yojana. In the SSY (Sukanya Samriddhi Yojana) calculator the girl’s age and investment amount have to be mentioned. An amount ranging from Rs.250- Rs.1.5 lakh can be invested in this scheme. Before July 2018, the minimum contribution was Rs. 1000, however now the Government of India has reduced the minimum contribution amount to Rs. 250 is kept.
Benefits of Sukanya Samriddhi Yojana Calculator
Several benefits of SSY Interest Calculator (Sukanya Samriddhi Yojana Calculator) are as follows:
- It helps in determining the exact value that will be realized after maturity.
- If you maintain records in excel format, you can easily plan your investment. And know the impact it will have on the maturity value.
- The calculator can be set to display the maturity value based on monthly or yearly investment.
- If all the details are correct, the Sukanya Samriddhi Interest Calculator can show the exact maturity value.
- If Sukanya Samriddhi Yojana is calculated manually, therefore there are minimal chances of errors in calculation of maturity value
- You can change the investment amount at any time, and get an accurate idea of the maturity value with new investment plans.
Limitations of Sukanya Samriddhi Account Calculator
Although the Sukanya Samriddhi Account Calculator has many advantages and disadvantages, it also has some limitations. These are as follows:
- If the calculator is not configured or configured correctly, it may provide values that are incorrect.
- The calculator does not limit the investment amount. 1.5 lakh is the limit as per government guidelines. But even if you add more value than the limit it will calculate the maturity level.
- Interest rate needs to be changed every time. Because it is configured manually.
Maturity Amount in SSY
SSY Calculator (Sukanya Samriddhi Yojana Calculator) will determine the amount to be received by the girl at the time of maturity based on the given details. An important thing to note here is that the maturity of the scheme (Sukanya Samriddhi Yojana) is 21 years. However, it has been made mandatory to invest in this scheme at least once a year for 14 years.
It is assumed that only one deposit is made every year. There is no need to add any deposit to the scheme from 15 years to 21 years. However, interest is paid to the person during this period. This is also taken into account by the calculator while calculating the final amount received after maturity.
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