Among government-guaranteed small savings schemes, the central government has increased the interest rate on Sukanya Samriddhi Yojana (SSY) from 7.60 per cent to 8 per cent, which is the kind of return that debt mutual fund investors can invest in for long periods.

The interest received in this is available on compound interest. However, the interest rate available on SSY is fixed every quarter. That is, it may change. If any parent wants to invest in Sukanya Samriddhi Yojana after the birth of their daughter, they can expect an average return of around 7.60 to 8 percent.

If an investor starts investing in the SSY account immediately after the birth of his daughter, he will contribute to it for 15 years. After that there is no need to invest money in it. When your daughter turns 21, she will get the entire money. 50% of the maturity amount can be withdrawn when the investment is 14 years old and the girl child is 18 years old. And the rest of the money can be withdrawn on maturity.

You will get this much return on Sukanya Samriddhi Yojana

If interest will be given at the rate of 7.6 percent till the maturity of Mane and a person invests Rs 12,500 i.e. Rs 1.50 lakh every month, then he will get exemption under 80C. If the investor withdraws the money after the completion of 21 years of the girl then he will get approximately Rs 63,79,634. So, if an investor starts investing Rs 12,500 per month in Sukanya Samriddhi Yojana account immediately after the birth of his daughter, the girl child will be a millionaire at the age of 21.

Get tax exemption

Investing in a government scheme is exempted under section 80C of income tax. Investor can claim exemption on investment up to Rs 1.50 lakh invested in SSY account in a financial year. 100 percent tax exemption will be available on both the interest of SSY and the money received on maturity.

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Sukanya Samriddhi Yojana: Sukanya Samriddhi Yojana (SSY) is one of the most popular small savings schemes to secure the financial future of the girl child. SSY account can be operated by any one of the parents or legal guardian of the girl child. Interest is paid on a fixed basis on the investments deposited in this account. At the same time, it is a long term investment plan. However, many parents also want to know how much amount their daughter will get on the maturity of this account, so today we are going to talk about it.

Sukanya Samriddhi Yojana Interest Rate
At present the interest rate of SSY Yojana is 7.6%. It is compounded on an annual basis. Interest is not payable on maturity of the scheme or on girl becoming Non-Resident Indian (NRI) or Non-citizen. The rate of interest is decided by the government and determined on a quarterly basis.

Sukanya Samriddhi Yojana Calculator
The investment period in this scheme is 15 years and maturity period is 21 years. On the other hand, how much maturity amount will be there in Sukanya Samriddhi Yojana can be known through Sukanya Samriddhi Yojana Calculator. Sukanya Samriddhi Yojana calculator helps a person to estimate the investment plan under Sukanya Samriddhi Yojana.

The Sukanya Samriddhi Yojana
calculator will use details like investments made every year and the interest rate mentioned by you to evaluate the data and give you the final result in terms of maturity amount. There are many online platforms that provide calculators for Sukanya Samriddhi Yojana and where maturity amount can be calculated online. Maturity amount can be calculated on many platforms by putting Sukanya Samriddhi Yojana Calculator on Google.

The post Sukanya Samriddhi Yojana Calculator: How much maturity amount will be available in Sukanya Samriddhi Yojana? do the calculation like this first appeared on Rightsofemployees.com.