Sukanya Samriddhi Yojana- Central Bank of India Calculator

What is the Sukanya Samriddhi Yojana- Central Bank of India Calculator?

The Central Bank of India- Sukanya Samriddhi Yojana Calculator is a tool that allows users to calculate the expected maturity amount based on their annual contributions, the age of their daughter, and the interest rate. This calculator simplifies the process of financial planning for parents by providing quick and accurate estimates of potential returns.

How to Use Sukanya Samriddhi Yojana Calculator- Central Bank of India from Policybazaar?

Using the SSY-Central Bank of India Calculator from Policybazaar is straightforward:

• Enter Investment Amount: Input the amount you plan to invest annually.

• Age of Girl Child: Specify your daughter's current age.

• Investment Starting Year: Indicate when you plan to start investing.

• Calculate: You can see the following results in the SSY calculator:

  • Total invested amount

  • Maturity year

  • Total interest earned

  • Total maturity amount

Investment

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₹10,000/Month

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₹1 Crore^*

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Example of Central Bank of India- SSY Calculator

To illustrate how the SSY calculator works, consider this example:

This table shows projected growth based on consistent annual contributions over time.

Overview of Central Bank of India- Sukanya Samriddhi Yojana (SSY)

The Sukanya Samriddhi Yojana-Central Bank of India is designed specifically for the financial security of girl children in India. Here are its main features:

• Eligibility: Accounts can be opened by legal guardians for girls under 10 years old.

• Account Limitations: One account per girl child, with a maximum of two accounts per family (three in case of twins or triplets).

• Withdrawal Rules: Partial withdrawals are allowed after the girl turns 18 or completes her 10th grade.

• Interest Rate: Currently set at 8.2% per annum for the financial year 2024-2025.

• Minimum Contribution: ₹250 per year.

• Maximum Contribution: Up to ₹1.5 lakh per year.

• Maturity Period: 21 years from account opening.

Who Can Use the Sukanya Samriddhi Yojana- Central Bank of India Calculator in 2025?

The Central Bank of India - SSY calculator can be used by:

• Parents or guardians planning to invest in their daughter's future.

• Individuals seeking to understand potential returns from their investments in SSY.

• Anyone interested in financial planning for educational or marriage expenses related to a girl child.

How Can the Central Bank of India- Sukanya Samriddhi Yojana Calculator Help You? 

The SSY calculator- Central Bank of India provides several benefits:

• Accurate Projections: It uses compound interest formulas to provide reliable estimates.

• Financial Planning Tool: Helps in setting realistic savings goals based on expected maturity amounts.

• User-Friendly Interface: Simple inputs yield quick results without complex calculations.

What are the Benefits of Using a Sukanya Samriddhi Yojana Calculator- Central Bank of India by Policybazaar?

Using the Central Bank of India- SSY calculator from Policybazaar offers multiple advantages:

• Time-Saving: Quickly calculates potential returns without manual effort.

• Error Reduction: Minimizes calculation errors that can occur during manual computations.

• Financial Clarity: Provides clear insights into how much you need to save annually to meet your goals.

Conclusion

The Sukanya Samriddhi Yojana- Central Bank of India is a valuable investment tool for parents aiming to secure their daughters' futures. The Policybazaar’s Central Bank of India- SSY Calculator simplifies this process by providing accurate estimates and facilitating effective financial planning. By understanding how this scheme works and utilizing available tools, parents can ensure they are making informed decisions for their children's education and marriage needs.