Sukanya Samriddhi Yojana (SSY) Calculator: Estimate Returns and Plan Your Daughter’s Future

To benefit from the SSY calculator, the first step is to ensure that the eligibility criteria of the scheme are fulfilled. The scheme allows legal guardians of girl children to open an SSY account if the following conditions are met:

1. The girl must be an Indian resident.
2. The girl should be no older than 10 years of age.
3. A family can open up to two accounts for two girl children.

In addition, legal guardians must submit the following documents to initiate deposits in the Sukanya Samriddhi Yojana scheme calculator:

1. A duly filled scheme opening document containing the basic personal details of the account holder and the girl child for whom the account is being opened.
2. Birth certificate of the girl child.
3. Depositor’s identification documents and proof of valid address.
4. A medical certificate in the case of the birth of multiple children under a single birth order.
5. Any additional documents requested by the relevant authority.

Individuals who fulfil the aforementioned prerequisites and possess the necessary supporting documents are eligible for the scheme. They can proceed to use the Sukanya Samriddhi Yojana calculator available online.

Investing in the name of a girl child is a common practice among parents who aim to cover their daughter’s education and marriage expenses. Among various investment avenues available, Sukanya Samriddhi Yojana (SSY) has gained significant popularity due to its attractive interest rate and tax benefits. About Sukanya Samriddhi Yojana, individuals can utilise Section 80C of the Income Tax Act to claim tax exemption of up to ₹1.5 lakh on the amount contributed to an SSY account.

• Tax-Free: Furthermore, the interest income and maturity amount are also tax-exempt. To simplify the process of calculating the maturity amount, parents can rely on the Sukanya Scheme Calculator or other tools like the SSY calculator post office and the Sukanya Samriddhi Yojana calculator post office, which are specifically tailored for easy and accurate estimations.
• Elimination of Complex Calculations: This tool eliminates cumbersome manual calculations prone to errors and enables accurate estimations for multiple iterations. Whether you use an SSY calculator, post office Sukanya Samriddhi account calculator, or the India Post Sukanya Samriddhi Yojana calculator, it helps you achieve your desired corpus.
• User-Friendly Interface: The calculator is user-friendly, free to use, and provides a comprehensive assessment of investments and returns. It offers benefits such as indicating the year of maturity and displaying the amount to be received upon maturity. You can explore different options, including the post office scheme for girl child calculator, the Sukanya Yojana calculator, and the Sukanya return calculator to plan your finances effectively. The calculator simplifies the projection of returns for those investing a fixed amount, such as ₹12,000 per year in Sukanya Samriddhi Yojana.

It’s worth mentioning that individuals need to make at least one contribution per year to keep the Sukanya Samriddhi Yojana (SSY) scheme active until the completion of 14 years, as the maturity tenure is 21 years.

During the years between year 1 and year 21, individuals have the option to skip making contributions to their SSY account if they choose to do so. However, the previous investments will continue earning interest at the prevailing rate. The final amount is calculated based on the net contribution made along with the accumulated interest.

To calculate the results, the Sukanya Yojana calculator utilises the following formula:

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

where: 

The variables in the following Sukanya Samriddhi Yojana Post Office calculator formula are: 

Suppose an individual invests ₹1,00,000 each year in a sukanya samriddhi yojana scheme for 21 years at a post office sukanya samriddhi yojana calculator of 12%, then at maturity, the girl will receive ₹10,80,385. Thus, with the help of an SSY calculator online, you can easily withdraw the amount in full. 

Here is the calculation: 

To leverage the power of Sukanya Samriddhi Yojana interest rate calculator, you need to understand how the calculation of Sukanya Samriddhi Yojana works. Follow this step-by-step guide for more:

Step-1: Open the Sukanya Calculator on smallcase. 

Step-2: Enter the following details: starting year, yearly investment amount, and  input the birth month and year of the girl child. 

Step-3: After entering the details, the Sukanya Samriddhi Scheme calculator or online SSY calculator on smallcase will display the maturity value and total interest at the end of the investment period. 

The scheme is designed to reach maturity 21 years from the date of opening the account. During the period between the 15th and 21st years, no further investments are allowed. Nevertheless, the account continues to accumulate interest on the previous deposits made during those years.

Under the old tax regime, investments in the Sukanya Samriddhi Yojana (SSY) qualify for a tax deduction of up to Rs. 1,50,000 per year under Section 80C of the Income Tax Act. Both the interest earned and the maturity amount from SSY are exempt from tax.

Example: Suppose your annual income is Rs. 10,00,000, and you invest Rs. 1,50,000 in Sukanya Samriddhi Yojana. Here’s how it impacts your tax:

1. Annual Income: Rs. 10,00,000
2. Standard Deduction: Rs. 50,000
3. Section 80C Deduction (SSY Investment): Rs. 1,50,000
4. Taxable Income After Deductions: Rs. 8,00,000
5. Tax Payable: Rs. 72,800

Without investing in SSY, your tax liability would increase to Rs. 1,06,600, resulting in higher tax payments.

Using the smallcase Sukanya Yojana calculator provides you with the following advantages:

• The calculator of Sukanya Samriddhi Yojana is available for free and can generate accurate results for multiple iterations.
• The Sukanya Samriddhi Scheme calculator provides quick output within seconds.
• The SSY scheme calculator tool is conveniently accessible on smallcase’s website, eliminating the need to download any additional software like the post office Sukanya Yojana calculator.
• No sign-up or login is required to use the calculator, and it only requires input fields without asking for any personal user information.
• There are no usage restrictions, allowing you to utilise the SSY calculator as many times as needed, including comparisons with the PNB Sukanya Samriddhi Yojana calculator or post office SSY calculator.
• The SSY calculator online calculations are automatically based on the current SSY interest rate, ensuring higher accuracy without the need for manual entry.
• The smallcase Sukanya Samriddhi Yojana return calculator is regularly updated to reflect any changes implemented in the scheme that may impact the corpus calculation.
• The Sukanya Samriddhi Yojana calculator helps you determine a suitable annual investment amount. Opening an SSY account is a secure method to safeguard your child’s future against expenses like higher education.

The Sukanya Samriddhi Yojana calculator helps you determine a suitable annual investment amount. Opening an SSY account is a secure method to safeguard your child’s future against expenses like higher education.

After attaining maturity, the entire accumulated corpus can be accessed by the young individual. This can be accomplished once the following documents are presented:

1. Application form for withdrawal
2. Identification proof and valid proof of address
3. Citizenship documents

The withdrawn corpus can be utilized to cover the expenses associated with the girl’s higher education, given that she has completed 10th Standard and turned 18 years old. The funds can only be utilised for fees and admission charges. In order to demonstrate that the funds are being used for educational purposes, depositors must submit university admission documents along with fee receipts.

In the event of early withdrawal for marriage expenses, it is permissible if the girl is 18 years of age or older. The girl will need to provide an affidavit affirming her status as an adult as a prerequisite for this withdrawal.