Duration: 15 Years
Maturity Period: 21 Years
Rate of Interest: 8.00%
Maturity Amount: ₹
Total Amount Deposited: ₹
Total Interest Earned: ₹
Sukanya Samriddhi Yojana (SSY), a targeted financial initiative designed for the empowerment of female children, can be effectively managed and planned using resources like the Sukanya Samriddhi Account Calculator. It was introduced by the Government of India in January 2015 as a part of the Beti Bachao Beti Padhao “Save the Girl Child, Educate the Girl Child” Campaign.
This scheme was launched to help parents (or guardians) meet the education and marriage expenses of their girl child. They can open an SSY account for their girls at a post office or through Public Sector Banks and three private Sector banks, namely, HDFC Bank, ICICI Bank, and Axis Bank.
How to use Fincareplan’s SSY Calculator Online
It can be a bit difficult for you to calculate the total amount you will get after your SSY account matures. The manual calculation requires complicated formulas and is prone to error.
Understanding the complexity, Fincareplan has developed a user-friendly Sukanya Samriddhi Yojana Interest Calculator, ensuring that you’re instantly informed about the maturity amount of your SSY account., taking into account the latest Sukanya Samriddhi Yojana Interest Rate calculator updates.
Below is the step-by-step process of calculating your maturity amount with our SSY Calculator.
Step 1: Enter your deposit amount
Step 2: Enter the number of deposits you will make in a year, a critical input for the ssy monthly calculator, which allows a maximum of 12 deposits annually.
Step 3: Click “Calculate”
Our SSY Calculator will automatically calculate your maturity amount, total amount deposited, and total interest earned.
How does SSY Calculator work?
Our SSY Calculator, a refined version of the standard Sukanya Samriddhi account calculator, assists in accurately forecasting the maturity amount from the SSY Scheme. The maturity period for this scheme is 21 years. So, the calculator will automatically give you the amount you will get after the maturity period.
What is the formula for SSY calculation?
Sukanya Samriddhi Yojana is calculated using the mathematical formula is
- “A” is the Compound Interest,
- “P” is the Principal Amount,
- “r” is the Rate of Interest,
- “n” is the Number of times interest compounds in a year, and
- “t” is the number of years.
Advantages of using Fincareplan Sukanya Samriddhi Scheme Calculator
While you may find various SSY calculators online, Fincareplan’s Sukanya Samriddhi Yojana Scheme Calculator stands out for its accuracy and ease of use. Below are some advantages of using our SSY Calculator to calculate your SSY amount.
- Our SSY calculator is completely free and can be used anytime, anywhere.
- It gives you an accurate estimation of your maturing amount, deposited amount, and interest earned. And it does this within seconds.
- You don’t need to sign up or give your personal information to use the calculator. You only need to be online and enter the SSY Calculator page.
- You can use this calculator for any number of times you want. This allows you to calculate the maturity amount for the amount you deposit. You can use this to plan how much you wish to invest in the scheme.
- The calculator uses the prevailing duration, maturity period, and interest rate for calculation. So you don’t need to enter it manually.
- The calculator can be used on all devices (mobile, tablets, computers, etc.)