SUKANYA SAMRIDDHI ACCOUNT - EXCEL CALCULATOR

SUKANYA SAMRIDDHI ACCOUNT :

Sukanya Samriddhi Account Yojana is recently launched by Prime Minister Narendra Modi. Sukanya Samriddhi scheme is predominantly launched as a part of “Beti Bachao Beti Padhao campaign”. Sukanya Samriddhi is small deposit scheme for the girl child.

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Sukanya Samriddhi Account – Saving Scheme for Girl Child

• Sukanya Samriddhi Account can be opened at Post office or at designated bank branches.
• This account can be opened for girl child on her name by her parents.
• The age of the girl at the time of opening account should not be more than 10 years.
• For the current financial year government has declared  9.2% interest on this scheme.
• Investment in this scheme will also give income tax benefit under section 80C.
• Minimum deposit amount under this scheme is 1000 Rs/- and maximum is 1.5 Lac per annum.
• Money must be deposited for 14 years.
• The maturity of the account is 21 years from the date of opening of the account or as girl child gets married whichever is earlier.
• Although money deposit is not require from 14 years onwards government shall pay interest on this scheme up to 21 years (maturity).
• 50% withdrawal is allowed for the higher study of girl child after 18 years of age.

For more details please read :- Sukanya Samriddhi Account – Review, Features & Benefits

If you are looking for good returns with zero risk “Sukanya Samriddhi Account” is for you. This scheme offers tax-free maturity returns.

Sukanya Samriddhi Account – Calculator

Sukanya Samriddhi account can help you to create a big corpus for your girl child, which can be helpful for her education or marriage. Let us see what returns this scheme will actually offer to investors.

Example 1:-

Monthly Investment – 12,500 Rs/-

Rate of Interest – 9.2%

Investment Period – 14 years

Maturity Amount – 76.97 Lac

Example 2:-

Yearly Investment lump sum – 1.5 Lac (Starting of year)

Rate of Interest – 9.2%

Investment Period – 14 years

Maturity Amount – 80.06 Lac

Assumptions: -

• Sukanya Samriddhi Account is opened on the birth of girl child. Age -1 Year.
• Interest rate remains constant for 21 years i.e -9.2%
• Yearly contribution is made at the beginning of the financial year in the month of April every year.
• No withdrawal is made from Sukanya Samriddhi Account throughout 21 years
• It is not mandatory to contribute fix amount in this account, although for illustration fixed contribution is taken