The Sukanya Samriddhi Yojana calculator helps you find the exact amount you would earn on maturity. Suppose you take up the calculator on an excel sheet, then add the amount you would want to invest and see how its value will effect on its maturity. One can easily calculate monthly as well as yearly investments.
The calculator offers accuracy in the values. One can make calculations manually to give a check. So, the calculator helps you find the maturity values on adding different amounts to be invested initially to the calculator. It is a great tool to understand Sukanya Samriddhi Yojna account balance and how of investment one should make it in for the best benefits.
One has to deliver a minimum investment of Rs 1000 and later can deposit any amount in multiples of 100. Individuals can make partial withdrawals when the girl turns 18 years only to support her for studies or marriage. The interest under SSAY scheme is compounded yearly. It will, however, affect the maturity amount only when you make monthly deposits.
Many variables contribute to the accuracy of evaluation of maturity value. If you keep the monthly and yearly contribution constant, the maturity value can be easily calculated.
Assume the rate of interest at 8.65 for entire 21 years.
Consider monthly deposits made on the 1st day of each month and yearly deposits on 1st April each year.
Also, assume that no withdrawals are made during these 21 years.
Making accurate assumptions on a different amount, one can quickly calculate distinct possibility of sums that he will earn upon maturity. The calculator further helps you make long terms decisions for a better and smooth future after certain years.