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SSY Calculator| SSY Interest Calculation with SSY Interest Rate| Sukanya Samriddhi Yojana In this video by FinCalC TV, we will see how to calculate interest on SSY scheme using Excel Calculator examples. We will also see how compounding is done during SSY Interest Calculation. Sukanya Samriddhi Yojana. This scheme is best for parents having girl child to plan for their future. SSY full form is Sukanya Samriddhi Yojana. After watching this video following queries will be solved: How many accounts can be created under SSY? What is the minimum amount required to open an SSY account? What is the maximum amount that I can deposit in a year What is the maturity period of an SSY account? Does a Sukanya Samriddhi Yojana account provide income tax benefits? DOWNLOAD our FREE ANDROID APP "FinCalC": https://play.google.com/store/apps/de... DOWNLOAD SSY INTEREST EXCEL CALCULATOR: https://fincalc-blog.in/ssy-excel-cal... OUR 2nd CHANNEL LINK: / @gharkirecipes558 Sukanya Samriddhi Yojana (SSY) is a savings scheme launched back in 2015 as part of the Government initiative Beti Bachao, Beti Padhao campaign. This scheme enables guardians to open a savings account for their girl child with an authorised commercial bank or India Post branch. As of 1st October 2020, SSY accounts offer 7.6% rate of interest. A Sukanya Samriddhi Yojana calculator can help you determine the returns you receive as per the invested amount and tenure. Sukanya Samriddhi Yojana has emerged as one of the most popular ones owing to the high interest rate as well as the tax benefits it offers. Under Section 80 C of the Income Tax Act, 1961, individuals can claim tax exemption upto Rs 1.5 Lakh from the amount contributed to SSY account. Moreover, the interest income generated from investing is tax exempt as well. Tax benefits are extended to the maturity amount too. That being said, parents who have zeroed in on using Sukanya Samriddhi as the preferred investment option, now need a tool to calculate the total amount on maturity that they would receive. Manual calculation is cumbersome and prone to error. This is where the Sukanya Samriddhi Calculator comes in handy. According to the maturity amount, investors can make adjustments to regular contributions to reach the desired corpus. The calculator is free to use and can generate error free output for multiple iterations. Who is eligible for a Sukanya Samriddhi Yojana account? Guardians can open an account on behalf of their girl child anytime between when she is born and before she reaches the age of 10. How many accounts can be created under SSY? Only one SSY account is permitted for a girl child. The number of accounts guardians can create is restricted to two for each of their girl child. Exceptions are only in case of twins or triplets. What is the minimum amount required to open an SSY account? Individuals can open an account with as low as Rs. 250. They also have to invest a minimum of Rs. 250 to keep the account active. What is the maximum amount that I can deposit in a year? The maximum amount that you can deposit per year in a Sukanya Samriddhi Yojana account is Rs. 1.5 Lakh. What is the maturity period of an SSY account? The maturity period of an SSY account is 21 years. However, you only have to make deposits for 14 years. The deposited corpus will earn interest between the 14th and 21st year. #SSYCalculator #SukanyaSamriddhiYojana #SSYExamples #Excel #Calculator #FinCalCTV ============================= LIKE | SHARE | COMMENT | SUBSCRIBE Mujhe Social Media par FOLLOW kare: Facebook : / fincalctv Twitter : / fincalctv BLOG: https://fincalc-blog.in ========================================== PPF Interest Calculation with Examples in EXCEL: • PPF Excel Calculator | Public Provide... Income Tax Calculation using EXCEL: • Income Tax Excel Calculator| Income T... Savings Account Interest Calculation using EXCEL: • Money Tips - Savings Account Interest... Senior Citizen Savings Scheme EXCEL Calculator: • SCSS Excel Calculator| Senior Citizen... Fixed Deposits EXCEL Calculator: • FD Interest Calculation| Fixed Deposi... Income Tax Return Filing Step by Step Video: • How To File ITR Online 2020-21| ITR F... New PPF Rules 2020 Video: • PPF New Rules 2020 & PPF Interest Cal... Income Tax Calculation for Senior Citizens Video: • Income Tax Calculation SENIOR CITIZEN... ========================================== The examples used are for Illustration purpose only. Comment in comments section if you have any queries. Thank you for watching :) DISCLAIMER: Examples used are for Illustration purpose only and might not cover every detail of examples shown. It is advised to seek professional help before taking any financial decisions. The owner of this channel shall not be liable in any way.