The government-backed Sukanya Samriddhi Yojana (SSY) stands as a beacon in ensuring the financial security of girl children in India. The scheme not only aims at fostering financial security but also promotes gender equality by empowering families to plan and save for marriage and education of their girl child.
To learn about the full potential of this scheme using sukanya samriddhi yojana calculator will prove extremely effective in chartering a pathway towards the financial well-being of a daughter’s future. Read to learn more about this calculator and how it acts as an effective financial ally.
What Is Sukanya Samriddhi Yojana Calculator?
A Sukanya Samriddhi Yojana Calculator serves as an effective financial tool specially designed to assist parents and individuals in calculating the estimated maturity amount along with returns on investments made under the Sukanya Samriddhi Yojana scheme.
This is actually a savings scheme backed by the government of India whose primary aim is to promote savings for the education and marriage expenses of a girl child in India. Various apps of stock market india also offer this calculator where one can view the expended return at maturity.
How Sukanya Samriddhi Yojana Calculator Acts As An Effective Financial Ally?
The Sukanya Samriddhi Yojana Calculator offers an efficient financial ally by offering valuable financial insights and assistance, all of which are listed below in detail:
Accurate Estimation Of The Amount of Maturity:
The calculator proves beneficial in estimating the future amount of maturity that will be available after the girl child reaches 21 years or after a specific duration that has been predetermined in the scheme.
Regular Planning of the Investment:
Parents or guardians can also input their desired monthly or annual contributions to the scheme and plan their investments strategically. The calculator will help them to know how a change in the amount of initial investment impacts the overall return.
Calculation Of Tax Benefits:
The calculator is also designed to consider the available tax benefits under SEction 80C of ITA, which allows a tax deduction on the total investment amount in the scheme. It helps in calculating the potential tax savings on the basis of the contributed amount.
Tracking The Goal Of The Investment:
Guardians and parents can monitor or track the progress made towards their financial goals for education or marriage expense of the girl child. They can also customise their investment on the basis of adjustments made in their financial objectives.
Comparison:
With the help of the Sukanya Samriddhi Yojana Calculator, parents can also compare the different outcomes of considering various investment strategies or different investment amounts and learn about the expected returns to set realistic financial goals.
Conclusion:
To sum up, it is quite clear that Sukanya Samriddhi Yojana serves as a potent financial ally, but one must ensure that the calculator is reliable and up-to-date. This will ensure that the projections and estimates given by the calculator are accurate and can be trusted to make informed financial decisions in the future.
