Sukanya Samriddhi Yojna Chart Download: Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme in India aimed at securing the financial future of girls. It encourages parents and guardians to invest in their daughters’ education and marriage by offering attractive interest rates and tax benefits. To help you understand the scheme better, we’ll delve into a Sukanya Samriddhi Yojana chart with illustrative examples.
Before diving into the chart and examples, let’s quickly recap the key features of SSY:
Let’s consider an example to illustrate the growth of an SSY account over time. Suppose you open an SSY account for your 6-year-old daughter and start with an initial deposit of ₹25,000. You plan to contribute ₹10,000 per year for the next 15 years. Here’s how the account balance would grow:
Year | Opening Balance (₹) | Annual Deposit (₹) | Interest Earned (₹) | Closing Balance (₹) |
---|---|---|---|---|
1 | 25,000 | – | 1,900 | 26,900 |
2 | 26,900 | 10,000 | 2,045 | 38,945 |
3 | 38,945 | 10,000 | 2,965 | 51,910 |
4 | 51,910 | 10,000 | 3,956 | 65,866 |
5 | 65,866 | 10,000 | 4,997 | 80,863 |
6 | 80,863 | 10,000 | 6,169 | 96,032 |
7 | 96,032 | 10,000 | 7,330 | 113,362 |
8 | 113,362 | 10,000 | 8,625 | 131,987 |
9 | 131,987 | 10,000 | 10,058 | 151,045 |
10 | 151,045 | 10,000 | 11,631 | 172,676 |
11 | 172,676 | 10,000 | 13,348 | 196,024 |
12 | 196,024 | 10,000 | 15,213 | 221,237 |
13 | 221,237 | 10,000 | 17,231 | 248,468 |
14 | 248,468 | 10,000 | 19,409 | 277,877 |
15 | 277,877 | 10,000 | 21,757 | 309,634 |
16 | 309,634 | – | 23,542 | 333,176 |
17 | 333,176 | – | 25,369 | 358,545 |
18 | 358,545 | – | 27,337 | 385,882 |
19 | 385,882 | – | 29,455 | 415,337 |
20 | 415,337 | – | 31,731 | 447,068 |
21 | 447,068 | – | 34,172 | 481,240 |
Now, let’s calculate the approximate maturity value of the SSY account based on the example provided:
This is a simplified example, and actual returns may vary depending on the prevailing interest rates. However, it highlights the potential for substantial growth in the SSY account balance over time.
Sukanya Samriddhi Yojana is a fantastic savings scheme that not only secures your daughter’s future but also provides tax benefits. This SSY chart example demonstrates the power of compounding and long-term savings. By investing consistently in an SSY account, you can build a significant corpus to fund your daughter’s education, marriage, or any other important life events. It’s a reliable and government-backed option for securing your child’s financial future.
This post was last modified on 16/09/2023 9:00 am
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