Sukanya Samriddhi Yojana Calculator: Calculate Maturity Amount Easily

Key takeaways: 
 

• Sukanya Samriddhi Yojana is a savings scheme which is a part of beti bachao, beti padhao government scheme. 
• Under this scheme, guardians can open a savings account for their girl child with any authorised bank account or branch of India Post. 
• The Sukanya Samriddhi Yojana calculator helps you to estimate the returns you will get on the invested amount. 

Bonus tip: 

Do you know? In the Sukanya Samriddhi Yojana, guardians can invest between ₹250 to ₹1,50,000 annually for 15 years. 

The Sukanya Samriddhi Yojana is a safest savings scheme for the secured future of girl child. The scheme is backed up by the government and it helps guardians to create and save a good amount for their girl child’s secured future. 

Think of the Sukanya Samriddhi Yojana calculator as a future planning mirror. Imagine you are growing a tree in which:

• Water given to the plant is the money that you invest every year
• Sunlight is the interest earned on that investment
• Full grown tree with fruits is the maturity amount

In this the Sukanya Samriddhi Yojana calculator will help you to know how big that tree will grow with all the other factors. 

For example, I am Neha and my daughter is 2 years old. I opened the Sukanya Samriddhi Yojana account to make an investment for her future. Below are my investment details: 

By using the Sukanya Samriddhi Yojana calculator, I was able to calculate the total invested amount as well as the maturity amount instantly. 

What is Sukanya Samriddhi Yojana 

The Sukanya Samriddhi Yojana is a government backed savings scheme introduced in 2015 for guardians to make investments for their girl child’s secured future. This is one of the most trusted schemes for a safe and secured future for a girl child. The scheme is launched under the “beti bachao, beti padhao’ scheme for encouraging parents to invest for their daughters from an early age. 

Under this scheme, a savings account can be opened in the name of a girl child of age below 10 years and can invest  between ₹250 to ₹1,50,000 annually. The savings account matures after 21 years which ensures that a long term investment is made. 

The Sukanya Samriddhi Yojana Calculator 

The Sukanya Samriddhi Yojana calculator helps you to estimate the maturity amount based on the annual investment made to the scheme along with the interest rate applicable. 

For example, investing ₹1,50,000 annually can turn into a maturity amount of ₹69,27,578 over the period of time. 

To use the Sukanya Samriddhi Yojana calculator, you need to enter a few basic details of your investment like the yearly investment, girl’s age and start year. By providing these details to the calculator, the calculator will help you estimate the total investment amount, total interest, maturity year and value. 

Who can use the Sukanya Samriddhi Yojana calculator 

Below are the key conditions to be eligible for using the Sukanya Samriddhi Yojana calculator:

 

• The girl should be an Indian citizen. 
• The girl’s age should not exceed 10 years. 
• In case there are two girls in the family, guardians can open two accounts for them. 

Along with the above conditions, documents like girl child’s birth certificate, valid address proof, personal details of both account holder and the girl child. 

How does the Sukanya Samriddhi Yojana calculator work?

To keep the scheme status active, it is important that for the first 14 years, you at least make one investment annually; the maturity period of the investment is 21 years. 

Below is the formula used by the calculator: 

A= P(1 + r/n) nt 

Understand this with the breakdown of the formula as: 

A = total amount with interest

P = Initial amount 

r = interest rate 

n = number of times interest is compounded 

t = number of years

For example, Rahul opened a Sukanya Samriddhi Yojana savings account for his newborn daughter. He made an annual investment of ₹30,000. 

The calculator used the “A= P(1 + r/n) nt” formula to estimate the total investment and maturity amount. 

Conclusion: 

Overall, the Sukanya Samriddhi Yojana is a government scheme introduced to create a safe and secured future for girls. The scheme encourages families to invest for their daughters.The Sukanya Samriddhi Yojana account can be opened for girls below the age of 10 years. 

The Sukanya Samriddhi Yojana calculator helps you to estimate the maturity amount based on the annual investment made to the scheme along with the interest rate applicable. 

FAQs: 

Who is eligible to open the Sukanya Samriddhi Yojana account? 

The Sukanya Samriddhi Yojana account can be opened for girls below the age of 10 years. 

Is Sukanya Samriddhi Yojana beneficial? 

This is one of the most trusted schemes for a safe and secured future for a girl child. The scheme is launched under the “beti bachao, beti padhao’ scheme for encouraging parents to invest for their daughters from an early age. 

I am 29 years old and my salary is 29 LPA with ₹9,00,000 annual expenses. Where should I invest to secure my newborn daughter’s future?

You can invest in the Sukanya Samriddhi Yojana. The scheme is launched under the “beti bachao, beti padhao’ scheme for encouraging parents to invest for their daughters from an early age. 

What is Sukanya Samriddhi Yojana? 

The Sukanya Samriddhi Yojana is aimed at the betterment of girl children in the Indian family. It was launched in 2015 under “beti bachao, beti padhao” yojna. 

What is the Sukanya Samriddhi Yojana calculator? 

The Sukanya Samriddhi Yojana calculator helps you to estimate the maturity amount based on the annual investment made to the scheme along with the interest rate applicable.