SSY Calculator: If you are also worried about your daughter’s future, then this news is for you. Actually, today in our news we are going to tell you about such a government scheme. In which you can open an account for your daughter and get Rs 67 lakh at the age of 21…
Sukanya Samriddhi Account (SSA) is a small savings scheme managed by the Government of India. SSA is the most sought-after scheme when it comes to saving for your daughter as it is a tax-free product and offers 8% interest compounded annually in Q1FY24.
A minimum of Rs 250 and a maximum of Rs 1.5 lakh can be deposited in SSA every financial year. Under the Income Tax Act, both the deposited amount and the interest earned are completely tax-free.
Only one SSA account can be opened by the guardian in the name of a girl child below 10 years of age and after 21 years from the date of account opening or the amount of the account can be withdrawn at the time of marriage of the girl child after attaining the age of 18 years. Can.
Parents can give a gift of Rs 67 lakh to their daughter when she turns 21 by opening Sukanya Samriddhi Account (SSA).
How will you be able to add Rs 67 lakh?
SSA Account is a Government of India supported initiative designed to provide financial security and empowerment to the girl child. With a minimum initial deposit of only Rs 250, SSY account can be opened in post offices or any commercial bank branch across the country.
Know when and how much money you will get from SSY Calculator-
1. Deposit Amount: Enter the amount you plan to deposit annually in the SSY account. Remember, the maximum limit is Rs 1.5 lakh per financial year.
2. Age of the girl child : Provide the current age of your daughter, which should be less than 10 years, as SSY account can be opened from birth till this age only.
3. Initial Year of Investment : Specify the year in which you plan to start investing in the SSY account.
Once you enter this information, the SSY calculator tells you the total interest earned and maturity amount at the end of the investment period.
Let us take an example. Suppose you decide to deposit Rs 1,50,000 every year for 15 years in your daughter’s SSY account.
The current interest rate for SSY account is 7.6% per annum. Now, assuming you start investing in the current year, you will get around Rs 66 lakh after the maturity period of 21 years.
