Sukanya Samriddhi Account – Calculator Download
Sukanya Samriddhi Account is saving scheme for girl child. Last week, Finance minister announced that Sukanya Samriddhi Account/Yojana interest would be tax free. Now this saving scheme intended for girl child is attracting several investors. This is a small saving scheme which offers 9.1% interest rate. In this article, I would touch upon key features along with Sukanya Samriddhi Account/Yojana excel calculator download. One can do computations of sukanya samriddhi yojana calculator online. This calculator would help you to know how much tax free income you can save for your girl child. This Sukanya Samriddhi Yojana calculator excel download would also help you to know how much money you need to invest if you want to accumulate a particular amount. You can check this Sukanya Samriddhi Yojana calculator free download excel template.
Features of Sukanya Samriddhi Account / Yojana
- Parent / Guardian can open Sukanya Samriddhi Account in the name of the minor girl child till 10 years of age.
- Minimum deposit is Rs 1,000 and in multiples of Rs 100 thereon.
- Maximum deposit to be made is Rs 1.5 Lakhs in a financial year.
- Interest rates are 9.1% for financial year 2014-15. The interest rate would be announced by the Govt. of India every year, the way they are doing it for PPF.
- Interest rate is 9.2% for financial year 2015-16 as announced by Govt of India during last week of March, 2015.
- Account would be active till girl attains 21 years of age or during marriage after 18 years of age.
- To meet higher education expenses, partial withdrawal is allowed up to 50% of the balance accumulated till the end of the last financial year. This is allowed after girl attained 18 years of age. This provision is kept so that early marriage is prevented before 18 years of age.
- Interest is compounded on an annual basis and would be first credited when a girl attains 14 years of age.
- Sukanya Samriddhi Account can be transferred anywhere in India in case girl moves from one city to another.
Major benefits of Sukanya Samriddhi Account Girl Saving Scheme
- High interest rate of 9.1%.
- Interest rate of 9.2% announced for FY 2015-16 (updated on 4-Apr-15)
- Tax deduction u/s 80C upto Rs 1.5 Lakhs in a financial year.
- Interest received on Sukanya Samriddhi Account is exempted from income tax (as announced on 28th February, during budget announcement).
- Good for Parents / Guardian who wants to accumulate tax free income for girl child for education or marriage.
Sukanya Samriddhi Account Excel Calculator Download
I have provided a simple Microsoft Excel Calculator which can be downloaded. You can find out how much interest you would get or maturity amount with this sukanya samriddhi yojana calculator online. Sukanya Samriddhi Yojana calculator free download excel template would help you to compute it on finger tip.
- If a parent / guardian invests Rs 1,000 per year for 14 years and wait for 21 years, the accumulated amount would be Rs 52,605.
- If a parent / guardian has invested Rs 150,000 per year for 14 years and wait for 21 years, the accumulated amount would be Rs 78.90 Lakhs.
How to use this Sukanya Samriddhi Account / Yojana Excel calculator download?
- Click here to download the calculator of Sukanya Samriddhi Account.
- Input the investment amount per annum in green color cell in yearly investment column.
- Interest rate is updated as 9.1% per annum every year. In case in any specific year, there is change in interest rate, you can update the same for that year. You can leave it as 9.1% as of now.
- Your accumulated amount is displayed. It would also provide year on year, how interest is computed and what amount is accumulated.
Sample Screenshots are enclosed below
1) Screenshot indicating Rs 1,000 per annum investment for 14 years. Accumulated investment value would be Rs 52,605 at the end of the 21 years along with interest. Investment should be done only for 14 years and maturity is at 21 years.
2) Screenshot indicating Rs 150,000 per annum investment for 14 years. Accumulated investment value would be Rs 78.91 Lakhs at the end of the 21 years along with interest. Investment should be done only for 14 years and maturity is at 21 years.
Readers, what is your view on Sukanya Samriddhi Girl Child Saving Scheme? Do you feel this is a good scheme promoted by Central Government. Do you think these computations of sukanya samriddhi yojana calculator online are helping you to take decision to invest or not? Share your views about this Sukanya Samriddhi Yojana calculator free download excel template.
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Sukanya Samriddhi Account – Excel Calculator Download