Sukanya Samriddhi Yojana is a savings scheme launched by the Government of India as part of the “Beti Bachao Beti Padhao” campaign. It aims to encourage financial security and education for girl child in India. This tax-free savings plan offers a high-interest rate and is specifically designed for parents or guardians of girl child to build a financial corpus for their future. The SSY Calculator helps in estimating the maturity amount based on your annual contributions and plan your Childs future effectively.
Latest Sukanya Samriddhi Yojana (SSY) Interest Rate = 8.2%
Sukanya Samriddhi Yojana Calculator
Key Features and Benefits of Sukanya Samriddhi Yojana :
Eligibility
- The account can be opened by the parents or guardians of a girl child aged 10 years or younger.
- A girl can have only one account under this scheme.
- Minimum yearly deposit: ₹250.
- Maximum yearly deposit: ₹1.5 lakh.
- Contributions are required for up to 15 years from the account opening date.
Investment and Contribution
Interest Rates
- Currently, the scheme offers a competitive interest rate of 8.2% per annum, compounded annually.
- The interest rate is reviewed quarterly by the Government of India.
- The account matures 21 years from the date of opening.
- Partial withdrawal of up to 50% of the balance is allowed for higher education after the girl reaches 18 years.
Tenure for Investment
Tax Benefits
- Contributions under SSY are eligible for tax deductions under Section 80C of the Income Tax Act.
- The maturity amount and interest earned are entirely tax-free
- The scheme offers guaranteed returns, making it a safe and secure investment option for families.
- It is backed by the Government of India, providing financial assurance.
Security of your Investment
Purpose and Utilization
The accumulated funds can be used for the girl’s education or marriage, helping families achieve long-term financial goals.
How the SSY Calculator Helps:
The SSY Calculator is a user-friendly tool to:
- Estimate the maturity amount based on your annual contributions.
- Visualize the total investment, interest earned, and maturity corpus.
- Plan finances effectively for the girl child’s future.
By using the calculator, you can explore different contribution scenarios and see how they impact the maturity amount, ensuring you make informed decisions.