SSY calculator: Sukanya Samriddhi Yojana (SSY) is among the government-backed small saving schemes in India. This woman youngster scheme was launched in 2015 authorising dad and mom of a lady (aged as much as 10 years) to open a Sukanya Samriddhi account in any authorised financial institution or submit workplace. SSY scheme provides highest tax-free return with EEE (exempt-exempt-exempt) standing. One can deposit as much as ₹1.5 lakh in a single SSY account in a single monetary 12 months and might declare tax exemption on total ₹1.5 lakh funding below Section 80C of the earnings tax act, 1961.
SSY rate of interest for Q2FY23 is 7.6 per cent and it’s nonetheless a lot above the typical price of inflation. So, if an investor is searching for a saving instrument that may guarantee higher monetary future of 1’s woman youngster, SSY account is an efficient choice as a result of it’s risk-free. If an investor invests ₹12,500 per 30 days then she or he will be capable of eat your complete tax-free restrict obtainable below the SSY scheme and after 21 years of lock-in, one will be capable of accumulate round ₹64 lakh for one’s woman youngster.
Sukanya Samriddhi Yojana calculator
If an individual opens SSY account at one 12 months of its woman youngster, then she or he would be capable of put money into the account for subsequent 14 years whereas full withdrawal will probably be allowed after 21 years of woman youngster. Assuming 7.60 per cent flat SSY rate of interest for your complete interval, the SSY calculator means that one would get round ₹64 lakh maturity quantity, if the particular person does not go for 50 per cent withdrawal obtainable after 18 years of its woman youngster.
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SSY calculator: Courtesy Groww
As per the SSY deposit guidelines, an investor is allowed to deposit as much as ₹1.5 lakh in a single time or in any variety of instances however the complete deposit want to not cross ₹1.5 lakh in a single monetary 12 months. So, an investor who cannot afford to take a position ₹1.50 lakh in a single time, can deposit in month-to-month mode depositing ₹12,500 per 30 days. This will even result in an annual deposit of ₹1.5 lakh.
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