- Calculation, is made based on the age of the girl child.
- Minimum amount is Rs.500
- Maximum amount is Rs.1,50,000
- 21 years is the maturity period of the scheme
How maturity value of the scheme is calculated
- Rate of Interest is 7.6%
- maturity period is 21 years
- Monthly contributions are made on the 1st of every month
- Yearly contributions are made every year on the 1st of April
Formula to calculate maturity amount
for example:
Total amount invested in 1st year : 1,50,000
Interest Credited : 11,400
Total : 1,61,400
Total amount invested in 2nd year : 1,50,000 + 1,61,400 = 3,11,400 (1st year balance + 2nd year investment)
Interest Credited : 23,666
Total : 3,35,066
At the end of 21st Year the maturity amount for total investment will be 65,93,068
Check with this formula:
- A= Compound Interest
- P=Principal
- r=Rate of Interest
- n= number of times interest is compounded
- t=number of years
P(1+r/n)^n
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