Invest 10000/month for 15 years, Earn 53.94 Lacs – Sukanya Samriddhi

The Government of India has introduced the Sukanya Samriddhi Yojana (SSY) scheme to improve conditions for women and girls. The scheme allows for the opening of a Sukanya Samriddhi Yojana Account for a girl child, with the invested amount to be used for her higher education or marriage. The scheme offers attractive interest rates and tax benefits. Deposits can be made until 14 years from the account opening, and the maturity period is either 21 years from the date of opening or until the girl child turns 18.

Investment Per Month: 10,000

Yearly Investment: 1,20,000

Total Investment for 15 Years: 18,00,000

Total Interest Earned: 35,94,491

Maturity Amount: 53,94,491

Important Note: Interest earned via the SSY scheme is tax-exempt

Calculation: How 10,000 monthly investment, will earn 53.94 Lacs on Maturity

Financial YearAmount Deposited (₹)Interest Earned (₹)Year End Balanced (₹)
11200005200.00125200.00
212000015216.00260416.00
312000026033.28406449.00
412000037715.94564165.00
512000050333.22734498.00
612000063959.88918458.00
712000078676.671117135.00
812000094570.801331706.00
9120000111736.461563442.00
10120000130275.381813718.00
11120000150297.412084015.00
12120000171921.202375936.00
13120000195274.902691211.00
14120000220496.893031708.00
15120000247736.643399445.00
160271955.573671400.00
170293712.023965112.00
180317208.984282321.00
190342585.704624907.00
200369992.554994899.00
210399591.965394491.00

There are many Sukanya Samriddhi Calculators available online that you can refer. These SSY calculators not only simplifies the process of calculating the interest earned, but also minimizes the risk of errors. By entering the necessary inputs, such as the principal amount, rate of interest, and tenure, the calculator can swiftly provide you with the accurate compound interest earned.

Using the SSY Calculator offers several advantages. Firstly, it saves valuable time by eliminating the need for manual calculations. This is particularly beneficial for individuals who may have limited mathematical expertise or lack the time to perform detailed calculations. Secondly, the calculator reduces the possibility of errors that can arise from manual calculations, ensuring precise results. Lastly, the calculator provides convenience, as it can be accessed online from anywhere, allowing users to perform the calculations at their convenience.

Premature Closure: An SSY account can be closed prematurely, but only after the girl child reaches 18 years of age or gets married. In case of the death of the account holder or other extreme compassionate grounds, the account can also be closed. However, it cannot be closed before 5 years from the date of opening the account.


Nikesh-Mehta-AllOnMoney

Hi, I am Nikesh Mehta, owner and writer of this site. I’m an analytics professional and also love writing on finance and related industry. I’ve done online course in Financial Markets and Investment Strategy from Indian School of Business. I can be reached at [email protected].


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