Excel Calculator Sukanya Samriddhi Account
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 8.2% interest rate in 2024. 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 ₹ 1,000 and in multiples of ₹ 100 thereon.
- Maximum deposit to be made is ₹ 1.5 Lakhs in a financial year.
- Interest rates are 8.2% for financial year 2024-25. The interest rate would be announced by the Govt. of India every year, the way they are doing it for PPF.
- 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.
Also Read: Complete guide on Sukanya Samriddhi Account – Benefits and Drawbacks
Major benefits of Sukanya Samriddhi Account Girl Saving Scheme
- Interest rate of 8.2% announced for FY 2024-25
- Tax deduction u/s 80C upto ₹ 1.5 Lakhs in a financial year.
- Interest received on Sukanya Samriddhi Account is exempted from income tax.
- Good for Parents / Guardian who wants to accumulate tax free income for girl child for education or marriage.
Excel Calculator Sukanya Samriddhi Account
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 ₹ 1,000 per year for 14 years and wait for 21 years, the accumulated amount would be ₹ 46,000.
- If a parent / guardian has invested ₹ 150,000 per year for 14 years and wait for 21 years, the accumulated amount would be ₹ 69.2 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 8.2% per annum every year (this article was updated in 2024). In case in any specific year, there is change in interest rate, you can update the same for that year.
- Your accumulated amount is displayed. It would also provide year on year, how interest is computed and what amount is accumulated.
Also Read: Should you opt for Kisan Vikas Patra (KVP) which offers 8.7% interest rate?
Excel Calculator Sukanya Samriddhi Account – Sample Screenshots are enclosed below
1) Screenshot indicating ₹ 1,000 per annum investment for 14 years. Accumulated investment value would be ₹ 46,145 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 ₹ 150,000 per annum investment for 14 years. Accumulated investment value would be ₹ 69.2 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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Suresh KP
Excel Calculator Sukanya Samriddhi Account
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