Sukanya Yojana Calculator: Your Rs 200 can become Rs 29.45 lakh in this small savings scheme

Sukanya Yojana Calculator: Sukanya Samriddhi Yojana is one of the most preferred girl child investment plan in India. Since its inception, the government-backed small savings scheme is gaining popularity as it ensures a handsome maturity amount when the girl child becomes 21 years of age. The amount can be used either for the higher studies of the girl child or for any other big use like marriage of the girl child. According to tax and investment experts, the small savings scheme is giving 7.6 per cent annual return these days, but for those who have opened Sukanya Samriddhi account earlier will be getting annual interest rate, which was available at the time of Sukanya Samriddhi account opening. But, even if you open Sukanya Samridhi account today, it will fetch an amount that will be enough for the higher studies of your girl child.

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As per the Sukanya Yojana Calculator, if a person having one year old girl child opens a Sukanya Samriddhi Yojana account today and invests Rs 1.5 lakh in a year, the Sukanya Samriddhi maturity amount when girl child will become 21 years will be Rs 61,37,260.92. In this entire period of investment, the investor will earn interest amount of Rs 40,37,260.92 on the investment of Rs 21,00,000.

Source: Daily Tools

However, investing Rs 12,500 per month might not be easy for each and every earning individual but for an earning individual running a family Rs 6,000 (Rs 200 per day) might be an amount that he or she can fish out from the monthly budget without much problem. In such a case, the Sukanya Samriddhi Yojana Calculator suggests that the investor will get a maturity amount of Rs 29,45,885.40. In this maturity amount Rs 19,37,885.40 is Sukanya Samriddhi interest earned during the investment period while Rs 10,08,000 is the net investment done during the investment period.

Source: Daily Tools

For further information to the readers, investment up to Rs 1.5 lakh in a financial year in Sukanya samriddhi Yojana Account is exempted from the income tax under Section 80C. But, it includes all other investments falling under the Section 80C list of investments like PF, EPF, PPF, etc.