Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme designed to provide financial security for the girl child’s education and marriage. It is a popular scheme among parents who wish to secure their daughters’ future. The scheme offers an attractive interest rate and tax benefits under Section 80C of the Income Tax Act. To help parents plan their investments, several financial institutions and government websites provide a Sukanya Yojana Calculator.
A Sukanya Yojana Calculator is a tool that helps parents calculate their investments and returns in the scheme. It provides an estimate of the amount that they need to invest regularly to achieve their desired goal. The calculator requires inputs such as the amount to be invested, the duration of the investment, and the interest rate offered by the scheme. Based on these inputs, the calculator generates the estimated returns and maturity amount.
To use the Sukanya Yojana Calculator, parents need to follow a few simple steps. Firstly, they need to visit the official website of the financial institution or government website that offers the calculator. Next, they need to enter the required inputs, such as the amount of investment, the duration of investment, and the interest rate. Once the inputs are entered, the calculator generates the estimated returns and maturity amount.
Using a Sukanya Yojana Calculator can be beneficial in several ways. Firstly, it helps parents plan their investments systematically and avoid any financial burden in the future. They can choose the right investment amount and duration that suits their financial goals and capability. Secondly, the calculator provides an estimate of the returns, which helps parents understand the potential benefits of the scheme. This can motivate them to invest regularly and achieve their goals.
In conclusion, a Sukanya Yojana Calculator is a useful tool for parents who wish to invest in the Sukanya Samriddhi Yojana scheme for their daughter’s education and marriage. It provides an estimate of the returns and maturity amount based on the investment amount, duration, and interest rate. Using a calculator can help parents plan their investments systematically and achieve their financial goals. It is advisable to use the calculator provided by the official website of the financial institution or government website to ensure accurate calculations.