### Sukanya Samriddhi Account Yojana Calculator

Sukanya Samriddhi Account Yojana Calculator. As it has already been mentioned, the popularity of the small investment plan, implemented by the government of India, under the rule of BJP, has been getting positive reviews. According to the latest reports, the parents, who enroll their female children under the scheme, will be able to avail the advantage of getting the interest, calculated at a rate of 9.2% on a yearly basis. According to the calculations, if the interested candidate wishes to deposit an amount of 1.5 lakhs, then the total profit that they will receive at the termination of the 14 year time is Rs. 78, 90,763. This will only remain true if the rate of interest remains fixed at 9.2%. You can also read Interest Rates in Sukanya Samriddhi Account.

### Benefits of the Sukanya Samriddhi Account calculator

If the interested candidates have any doubts about the usage and advantages of utilizing the SSA calculator, then the following points will assists them in getting a better idea about it:

1. Not all are good at doing the math. So, doubts will arise when an interested candidate will think of investing a specific sum of money into the account, for securing the future of the female child. With the assistance of the calculator, one will be able to get a definite idea about the sum that they will acquire after the termination of the time. You can also read How to Open Sukanya Samriddhi Account Online and Offline.
2. Feeding in the calculation formula in the excel sheet will also assist one in getting the actual amount at the end of the maturity term. They will not have to do the calculation manually. All they need to do is type in the investment amount and they will see what maturity amount they will be getting.
3. With the help of the various setting in the calculator, the interested candidate will get the chance of seeing the exact amount of money they can get from the investment, both on a yearly as well as a monthly basis.
4. Depending on the skills of configuring the calculator, the person will be able to acquire the exact sum that they will be getting, depending on the investment that they are thinking of making, in the Sukanya Samriddhi Account .
5. When one sits for making the calculations of the maturity amount, then the chances of making a mistake are really high. It can be eliminated with the assistance of the SSA calculator. As it is operated by mechanical process, the chances of errors will be eliminated.
6. If the candidate is not sure about the amount that he/she wants to invest in the SSA, then they can make use of the calculator and then keep on getting the exact maturity amounts, as many times as they change the invested amount.

Drawbacks of the calculator

The following are the main drawbacks of the SSA calculator:

1. Everything depends on configuration of the calculator. In case the person has not been careful while configuring it in the proper manner, the calculations will never yield a perfect result. It can create problems for the person.
2. According to the guidelines of the SS scheme, the government has set that the highest investment amount will not be more that 1.5 lakhs. But if the person calculating the maturity amount types in an amount more that the set sum, the calculator will still generate a maturity amount.
3. The interest rate that the government is offering is not fixed. It will depend on the market and will either increase or decrease in the future. The person will have to type in the data manually. So, if there is a change in the interest rate, the calculator will have to be changed accordingly.
4. All the calculations, which are done by the calculator, are mainly based on the theory of assumption. The calculator has fixed the interest rate at a fixed 9.2%. This is not correct as the rate will change in the days to come.

Table for calculating the maturity sum

The following table contains the heads under which the maturity calculations will be done:

 Age of the female child Age of the account Date of making the deposit Amount to be deposited Principal sum at the end of the year Interest amount on the yearly basis Total sum at the end of the year

Assuming the calculations

While making the calculations, it is assumed that the interested person will make the highest investment that is permitted by the government. Another assumption is that the rate of interest will not fluctuate. The third and the most illogical assumption is that the maturity amount will only be withdrawn by the person at the end of the term of 21 years and not before that. All these assumptions create a dilemma in the mind of the person as there is no base of keeping these assumptions. Thus, it is necessary to formulate another way of making the calculations which will not keep any provision for these assumptions.