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SSY Calculator

The Sukanya Samriddhi Yojana (SSY) calculator is a valuable tool designed to estimate the maturity value of funds invested in the Sukanya Samriddhi Yojana, a savings scheme introduced by the Government of India. This scheme is primarily intended for the welfare of a girl child and encourages parents to invest for their daughter's future. The Sukanya Samriddhi Yojana calculator online helps potential investors determine the total savings that can be accumulated over the investment tenure. By inputting the amount to be invested annually

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SSY Calculator

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  1. Sukanya Samriddhi Yojana (SSY) Calculator Estimate Your Child’s Future Financial Security Finowings Training Academy

  2. What is Sukanya Samriddhi Yojana (SSY) Calculator? 'SSY or Sukanya Samridhi Yojana Calculator' is a handy tool for estimating the maturity value based on annual investments. - It helps in planning savings for the girl child’s future. - For example, investing ₹1.5 lakh annually for 15 years may result in a maturity amount of ₹69.80 lakh at an 8% interest rate.

  3. Why Use SSY Calculator? - Simple and accurate. - Helps plan long-term investments for a girl child's future. - Shows returns based on different annual contributions. - Provides clarity on how much to invest for specific future goals.

  4. How the SSY Scheme Works - 15-year deposit period with compounded annual interest. - Full withdrawal possible at 21 years or after marriage. - Minimum deposit: ₹250, Maximum deposit: ₹1.5 lakh annually. - Returns are tax-free under Section 80C.

  5. SSY Calculator Example - If ₹1.5 lakh is invested annually for 15 years at 8% interest: - Maturity amount = ₹69.80 lakh after 21 years. - Interest compounds annually.

  6. Formula for SSY Calculation Formula: A = P (1 + r/n) ^ nt - A = Compound interest (maturity value). - P = Principal amount. - r = Interest rate. - n = Number of times interest compounds per year. - t = Number of years.

  7. How the SSY Calculator Helps - Helps plan for a secure future for your girl child. - Provides a clear estimate of expected maturity funds. - Enables adjustments to meet financial goals. - Eliminates manual calculation errors.

  8. Comparison with Other Investment Tools - SSY is government-backed and secure. - Higher interest rate than many small savings schemes. - EEE tax benefits (Exempt-Exempt-Exempt). - Better long-term returns compared to PPF and FDs.

  9. How to Use the SSY Calculator - Enter the annual deposit amount. - Specify the interest rate. - Estimate maturity amount based on a 15-year contribution. - Adjust input values for different outcomes.

  10. Conclusion Plan your girl child’s future with confidence using the SSY Calculator. For personalized financial training and guidance, visit Finowings Training Academy.

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