₹1000 Sukanya Samriddhi Yojana Interest Calculation Examples for 15 Years [SSY Calculator]
In this video by FinCalC TV we will see Sukanya Samriddhi Yojana Interest Calculation Examples in hindi and how much interest you will get in SSY or SSA account. Sukanya Samriddhi Yojana is for your girl child or sister with age less than 10 years.

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CHAPTERS:
00:00 Sukanya Samriddhi Yojana Intro
00:15 Sukanya Samriddhi Yojana Features and Benefits
01:02 Income Tax Benefits and Tenure
01:33 Maximum Interest in Sukanya Samriddhi Yojana
02:02 Sukanya Samriddhi Yojana Interest Rate
02:18 Sukanya Samriddhi Yojana Calculator
07:05 Compounding in Sukanya Samriddhi Account
08:52 Interest rate Change Calculation
09:43 SSY Balance after 15 Years
11:33 SSY Balance after 21 Years
11:45 Total Interest Earned in SSY
13:11 Sukanya Samriddhi Yojana Conclusion

SUKANYA SAMRIDDHI YOJANA BENEFITS AND FEATURES
Sukanya Samriddhi Yojana is a Government Scheme so your deposits are safe.
You can make Minimum deposit Rs. 250/ and Maximum deposit allowed is Rs. 1.5 Lakh in a financial year
Current interest rate of SSY for April 2023 to June 2023 quarter is 8.0% annually. This interest rate is subjected to be updated in every quarter by Government of India
Account can be opened in the name of a girl child till she attains the age of 10 years (between 010 years)
Only one account can be opened in the name of a girl child.
Maximum of 2 accounts can be opened for 2 girl children in a family. Cannot open SSY account for third girl child
Account can be opened in Post offices and in authorized banks.
Withdrawal shall be allowed for the purpose of higher education of the Account holder to meet education expenses.
The account can be prematurely closed in case of marriage of girl child after her attaining the age of 18 years.
Account can be transferred anywhere in India from one Post office/Bank to another.
The account shall mature on completion of a period of 21 years from the date of opening of account. Deposits can be made for a period of 15 years from the date of opening of account
Deposit qualifies for deduction under Section 80C of Income Tax Act. So you can save Income Tax
Interest earned in the account is free from Income Tax

WHO IS ELIGIBLE FOR SUKANYA SAMRIDDHI YOJANA?
If you have a girl child who’s age is less than 10 years, you can open Sukanya Samriddhi Yojana account for her
Account opening can be done for 2nd girl child as well, but not for the 3rd girl child
In case of twin girls resulting in 3rd girl child, account can be opened for 3rd girl child which is twin
You can submit few documents as per offline process to open Sukanya Samriddhi Yojana account in post office or authorized banks

HOW SUKANYA SAMRIDDHI YOJANA CALCULATOR CAN HELP YOU?
Sukanya Samriddhi Yojana Calculator can help you to calculate your interest amounts to be calculated based on your deposits
This will help you to plan for your investments and achieve goals such as child marriage and for her higher education.
The above online Sukanya Samriddhi Yojana calculator helps you to calculate returns with ease!

How many years need to pay for Sukanya Samriddhi Yojana?
You need to pay for 15 years in Sukanya Samriddhi Yojana account from the date of opening account. Post 15 years, there is 6 years cooling period in which your deposits earn tax free interest for you without any fresh deposits.

Can I deposit more than 1.5 lakh in Sukanya Samriddhi Yojana?
Rs. 1.5 Lakh is the maximum amount you can deposit in Sukanya Samriddhi Yojana account. Even if you want to deposit more than this maximum limit, you won’t be able to claim tax deduction on amount higher than this limit and also interest will not be calculated on the amount higher than Rs. 1.5 Lakh limit.

#sukanyasamriddhiyojana #ssy #fincalc

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DISCLAIMER:
Examples and demo used are for Illustration purpose only and might not cover every detail of examples shown.