A Sukanya Samriddhi Yojana (SSY) Calculator is an online tool that helps you estimate the maturity amount of your investment in the government-backed SSY scheme. By inputting the yearly investment and the girl child’s age, you can instantly see the total interest you’ll earn and the final corpus you will accumulate by the time the scheme matures, helping you plan effectively for your daughter’s future financial needs like education and marriage.
Sukanya Samriddhi Yojana Calculator
Maturity Value at Age 21
Total Investment
₹15,00,000Total Interest
₹29,89,686| Age | Yearly Deposit | Annual Interest | Closing Balance |
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What is a Sukanya Samriddhi Yojana Calculator?
A Sukanya Samriddhi Yojana Calculator is a specialized financial utility designed to demystify the long-term growth of investments within the SSY scheme. This government-backed savings plan is tailored for the financial empowerment of a girl child, but its unique structure—a 15-year deposit period and a 21-year maturity period with annually compounding interest—can make manual calculations complex. Our online SSY calculator simplifies this process entirely.
By providing just two key inputs—the planned yearly investment and the girl’s current age—the tool instantly projects the future value of the account. It programmatically computes the year-on-year growth, factoring in the annual deposits for the first 15 years and the subsequent interest accrual on the accumulated balance for the remaining 6 years until maturity. The output clearly displays the total amount invested, the total interest earned, and the final lump-sum maturity value. This provides parents with a clear, actionable financial roadmap, enabling them to make informed decisions for their daughter’s future milestones.
Key Features & Benefits
Instant & Accurate Projections
Get immediate and precise calculations of your SSY maturity amount and interest returns based on the current official interest rate.
Completely Free & Secure
Our tool is 100% free to use. All calculations happen in your browser, ensuring your financial data is completely private and never stored.
Detailed Yearly Breakdown
Visualize your investment’s growth with a year-by-year table, showing how your deposits and interest compound over the entire 21-year term.
How to Calculate Your SSY Returns: A Step-by-Step Guide
Using our Sukanya Samriddhi Yojana Calculator is simple and intuitive. Follow these steps to get a clear projection of your investment:
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Enter the Yearly Investment Amount
Decide how much you wish to deposit annually. Use the slider for a quick adjustment or type the exact amount (between ₹250 and ₹1,50,000) into the input box. This is the core figure for your investment.
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Provide the Girl’s Current Age
Input the current age of the girl child (from 0 to 10 years). This helps the calculator determine the timeline and accurately project the maturity year, which occurs when she is 21 years old.
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Review Your Instant Projections
The moment you enter the details, the results are displayed automatically. You will see the total maturity value, your total principal investment, and the total interest earned over the scheme’s duration.
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Analyze the Yearly Growth (Optional)
For a deeper insight, look at the detailed projection table below the calculator. It breaks down the entire 21-year journey, showing the opening balance, annual deposit, interest credited, and closing balance for each year.
A Complete Guide to Sukanya Samriddhi Yojana (SSY): Securing Your Daughter’s Future
In a world focused on financial planning, securing a child’s future is a top priority for every parent. The Government of India introduced the Sukanya Samriddhi Yojana (SSY) as part of the “Beti Bachao, Beti Padhao” campaign, a visionary initiative aimed at ensuring the financial security and empowerment of the girl child. This small savings scheme is not just an investment; it’s a commitment to your daughter’s dreams, whether for her higher education or marriage. To navigate this powerful scheme effectively, a Sukanya Samriddhi Yojana calculator becomes an indispensable planning tool.
This comprehensive guide will walk you through every facet of the SSY scheme, from its core benefits to its intricate rules. We’ll explore how using an SSY calculator can transform your financial planning from guesswork into a precise strategy, ensuring you maximize the potential of this exceptional scheme.
Understanding the Sukanya Samriddhi Yojana (SSY) Scheme
Sukanya Samriddhi Yojana, which translates to “Girl Child Prosperity Scheme,” is a government-sponsored savings plan designed exclusively for the parents or legal guardians of a girl child. Its primary objective is to encourage long-term savings for a girl’s future financial needs. The scheme is renowned for its three key advantages: a high interest rate, significant tax benefits, and the security of a government guarantee.
- High-Interest Rate: Historically, SSY has offered one of the highest interest rates among all small savings schemes in India. The rate is reviewed quarterly by the Ministry of Finance and is currently set at 8.2% per annum (for Q1 FY 2024-25), compounded annually. This high rate of compounding significantly boosts the final maturity amount.
- Unmatched Tax Benefits (EEE Status): SSY enjoys the coveted Exempt-Exempt-Exempt (EEE) tax status. This means:
- Exempt (Investment): Contributions up to ₹1.5 lakh per financial year are eligible for tax deduction under Section 80C of the Income Tax Act, 1961.
- Exempt (Interest): The interest that accumulates in the account each year is completely tax-free.
- Exempt (Maturity): The final maturity amount, including all interest, is also fully exempt from income tax.
- Sovereign Guarantee: As a government-backed scheme, the investment is secure and risk-free, providing parents with complete peace of mind.
The Strategic Role of the Sukanya Samriddhi Yojana Calculator
While the benefits are clear, the power of compounding over a 21-year period can be difficult to visualize. This is where a Sukanya Samriddhi Yojana calculator plays a pivotal role. It acts as a financial simulator, translating your investment plans into concrete numbers.
Using the calculator provides several strategic advantages:
- Goal-Oriented Planning: Do you need ₹50 lakh for your daughter’s higher education? The calculator lets you work backward. By adjusting the yearly investment amount, you can determine the exact contribution required to reach your specific financial goal.
- Visualizing Compounding: The calculator’s year-by-year breakdown is a powerful illustration of the magic of compounding. You can see how the interest earned starts to grow exponentially, especially after the 15-year deposit period ends and the entire corpus continues to earn interest.
- Informed Decision-Making: It helps you compare SSY with other investment options. By seeing the guaranteed, tax-free returns, you can make an informed decision about asset allocation for your child’s future. It removes ambiguity and allows for precise, long-term financial planning.
Eligibility Criteria and Account Rules
To leverage the scheme, it’s crucial to understand its rules:
- Eligibility: An SSY account can be opened by the parents or legal guardians of a girl child anytime from her birth until she attains the age of 10.
- Number of Accounts: Only one account is permissible per girl child. A family can open a maximum of two accounts for two different girls (exceptions for twins or triplets).
- Investment Limits: The minimum annual deposit is ₹250, and the maximum is ₹1,50,000 in a financial year. Deposits can be made in a lump sum or in multiple installments.
- Deposit and Maturity Period: Deposits need to be made for the first 15 years from the date of account opening. The account will continue to earn interest until it matures after 21 years from the opening date.
Withdrawal and Premature Closure Rules
The scheme has specific rules for liquidity to ensure the funds are used for their intended purpose:
- Withdrawal for Higher Education: A partial withdrawal of up to 50% of the balance available at the end of the preceding financial year is allowed for the girl’s higher education. This is permitted only after she turns 18 or passes the 10th standard, whichever is earlier.
- Premature Closure for Marriage: The account can be closed prematurely for the purpose of the girl child’s marriage, but only after she has attained the age of 18. An application must be submitted at least one month before or within three months after the date of marriage.
- Other Premature Closure Conditions: In unfortunate circumstances, such as the death of the girl child or the depositor, or in cases of life-threatening illness, the account can be closed prematurely with the necessary documentation.
Ultimately, the Sukanya Samriddhi Yojana is more than a financial product; it’s a powerful statement about valuing and investing in the future of India’s daughters. By using a reliable Sukanya Samriddhi Yojana calculator, parents can transform this noble intention into a well-structured, achievable financial goal, ensuring their daughter has the resources she needs to pursue her dreams without compromise.
Frequently Asked Questions
The current interest rate for the Sukanya Samriddhi Yojana (SSY) for the quarter of April-June 2024 is 8.2% per annum, compounded annually. This rate is reviewed by the government every quarter.
Yes, partial withdrawal is allowed. Up to 50% of the balance at the end of the preceding financial year can be withdrawn for the purpose of the girl child’s higher education once she turns 18 or has passed the 10th standard.
Under the SSY scheme, you need to make contributions for the first 15 years from the date of account opening. After this period, no further deposits are required, but the account continues to earn interest until it matures.
The Sukanya Samriddhi Yojana account matures 21 years from the date of its opening. The accumulated amount can be withdrawn upon maturity. Premature closure is also permitted for the girl’s marriage after she attains the age of 18.
Yes, the SSY scheme offers excellent tax benefits. It falls under the EEE (Exempt-Exempt-Exempt) category. The investment amount (up to ₹1.5 lakh per year) is eligible for a deduction under Section 80C of the Income Tax Act, the interest earned is tax-free, and the maturity amount is also tax-exempt.
A legal guardian or the parents of a girl child can open an SSY account in her name, provided she is 10 years of age or younger at the time of account opening. Only one account per girl child is allowed.
If the minimum deposit of ₹250 is not made in a financial year, the account is considered ‘defaulted’. It can be regularized by paying a penalty of ₹50 along with the minimum subscription amount for each year of default.
This calculator uses the prevailing interest rate of 8.2% p.a. as set by the government. We strive to update this rate as soon as new quarterly announcements are made. The calculations are for illustrative purposes based on this rate remaining constant.