SSY Calculator Range?

1. We recommend to have Total Investment ranges from ₹ 250 to ₹ 150000
2. The current interest rate is 7.6% p.a
3. The SSY has a tenure of 21 years, No deposits are required to be made between year 15 and year 21.
4. It is mandatory for individuals to make at least one contribution in a year until the completion of 14 years.
5. Only for girls and residents of india and age must be less than 10 years

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What is SSY Calculator?

1. The Sukanya Samriddhi Yojana (SSY) was launched by the Indian government as a campaign of its “Beti Bachao Beti Padhao” drive.
2. The account can mature after 21 years since the day it was opened or when a girl will be married having reached 18 years old.
3. The girl is to be an Indian citizen
4. She shouldn’t be more than ten years old.
5. It is compulsory for persons to make one deposit per year till they reach 14 years of age.
6. The calculator will assume that the same amount of money is put in annually as a deposit.
7. No deposits are required between 15 and 21.
8. Nevertheless, individuals will accrue interest on the preceding contributions throughout this period.
9. A family having two girl children can open up to two accounts.

How SSY Calculator works?

A SSY calculator works on the following standard formula used to calculate amount on maturity under the SSY scheme

A=P(1+r/n)^nt

Where

• A = Compound Interest
• P = Principal Amount
• r = Rate of Interest
• n = The number of times interest is compounded in a year
• nt = number of years

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