Updated: Jan 29, 2019
I got several comments and half of them were asking about the maturity amount. So I thought of making a simple excel calculator for Sukanya Samriddhi Yojana which gives a straightaway maturity amount based on the monthly or yearly contribution.
How to use Sukanya Samrddhi Calculator
Step 1. Sukanya Samriddhi Calculator is an excel sheet having 4 sheets but only first sheet named “Sukanya Samriddhi Calculator” is editable. All other sheets are supporting sheets on which calculation is done. You can see the table of calculation but cannot alter it.
Sukanya Samriddhi Calculator Interface
Step 2. There are 3 fields which you need to put figures into.
- Monthly Contribution or Yearly Contribution
- Age of the Girl Child (in years)
- Interest Rate (if change next year)
Step 3. To know the withdrawable amount at the age of 18 years of girl child i.e. 50% of the account balance, see the monthly contribution sheet (if opted for monthly contribution) or yearly contribution sheet (if opted for yearly contribution).
Step 4. Working sheet is of no use to you, this sheet contains the in-depth calculation of month wise contribution and yearly compounding of interest.
How to Download the Sukanya Samriddhi Calculator
Step 1. Fill in the email address in the form below and click on the subscribe button.
Step 2. Go to your inbox and confirm the subscription.
Step 3.?Once you confirm your subscription, click on the link below to download the calculator
Limitations of Sukanya Samrddhi Calculator
1. Sukanya Samriddhi Calculator only assumes equal contribution per year or per month. This means if you wish to contribute different sum each month or each year, you cannot get the maturity amount with this calculator.
2. Both the yearly contribution and monthly contribution is assumed to be deposited at the beginning. Like if you wish to deposit Rs.12,000 per year, then this calculator assumes the deposit is made on 1st April and gives you the maturity.
3. 50% withdrawal is not computed in the calculator, you need to check the monthly contribution sheet and yearly contribution sheet to calculate the 50% withdrawable amount on 18 years of age of girl child.
4. Further,?Sukanya Samriddhi Calculator does not take into account if you withdraw 50% and continue the account. This means maturity amount calculated through this calculator only gives you the amount at the maturity without considering any withdrawn in between.
5. Age of the girl child can only be taken in the years, not in months.