Sukanya Samriddhi Yojana 2024: Sukanya Samriddhi Yojana Parents wishing to invest in ICICI Bank often want to know how much amount they will receive after 21 years. Keeping this need in mind, we sukanya samriddhi yojana calculator in excel Has been prepared, which will be helpful in making accurate calculations of your investment. This calculator is very easy to use,
You just need to enter your monthly deposit amount, annual interest rate, and investment period. The Excel calculator will automatically calculate the compounding interest based on the data given by you and provide you with the exact figure of the maturity amount you will get after 21 years. Using this tool, you can not only plan your investments but also ensure that you have a secure financial arrangement for your daughter’s future.
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Sukanya Samriddhi Yojana 2024
Sukanya Samriddhi Yojana (SSY) is a savings scheme of the Indian Government, specially designed to secure the future of daughters. The scheme is part of the Beti Bachao, Beti Padhao campaign, and aims to provide financial assistance for higher education and marriage of girl children.
Major benefits of the scheme
- tax benefits: Tax exemption under section 80C.
- resilience: Annual deposit ranging from minimum ₹250 to maximum ₹1.5 lakh.
- Long Term: Account operation up to 21 years.
- Interest Rate: Currently 8% (this may change every quarter).
How much interest will you get after 21 years by depositing ₹2000 every month?
This video explains in detail that if you Sukanya Samriddhi Yojana If you deposit ₹ 2000 every month, then how much maturity amount can you get after 21 years. Let us know the detailed interest calculation of this scheme:
Calculation of Sukanya Samriddhi Yojana Calculator
- Monthly Deposit: ₹2000
- Annual Deposit: ₹24000
- Deposit amount for 15 years: ₹3,60,000
- Interest Rate: 8% (may change from time to time)
- Compounding Interest: on a monthly basis
First year calculation:
- Monthly Deposit: ₹2000
- Annual Deposit: ₹24000
- First year interest: ₹1040
- Total amount: ₹25040
Second year calculation:
- Starting Balance: ₹25040
- Annual Deposit: ₹24000
- Second year interest: ₹2048.32
- Total amount: ₹51088.32
Third year calculation:
- Opening Balance: ₹51088.32
- Annual Deposit: ₹24000
- Third year interest: ₹3267.10
- Total amount: ₹78355.42
At the end of 15 years:
- Total Deposit Amount: ₹3,60,000
- Total Interest: ₹3,19,987
- Maturity amount: ₹6,79,987
At the end of 21 years:
- Without further deposit, interest will continue
- Total Maturity Amount in 21st year: ₹10,07,895
Sukanya Samriddhi Yojana Importance of Compounding in:
The effect of compounding makes this plan even more attractive. When you deposit a fixed amount regularly, the interest you earn each year becomes part of the deposit amount for the next year. This gives you more interest the next year, and this process continues, increasing your total balance.
Summary
Sukanya Samriddhi Yojana A safe and profitable investment option, which helps in securing the future of the daughter. Because of regular monthly deposits and compounding interest, this plan gives good returns in the long run. If you deposit ₹2000 every month, after 21 years you can get approximately ₹10,07,895, which is almost three times your total deposit amount.
If you have any questions related to this scheme or want to do the calculations individually, you can use the calculator given in the video. With this calculator you can easily know how much amount you can get.
