Sukanya Samriddhi Yojana (SSY) Calculator

Output:
Amortization Schedule
Year Deposit Interest Earned Total Amount

Sukanya Samriddhi Yojana (SSY) Calculator – Secure Your Daughter’s Future

The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme designed to provide financial security for a girl child. With a high-interest rate and tax benefits, it is an excellent investment for long-term savings.

What is Sukanya Samriddhi Yojana?

Launched under the Beti Bachao Beti Padhao initiative, SSY allows parents to open a savings account for their daughter and earn interest at a competitive rate. The scheme offers tax benefits under Section 80C and ensures a secure future for the girl child.

How is Sukanya Samriddhi Yojana Interest Calculated?

The SSY interest is compounded annually. The formula used for calculation is:

Maturity Amount = P × (1 + r/n)^(n×t)

Where:

  • P = Annual Investment Amount
  • r = Interest Rate (compounded annually)
  • n = Number of times interest is compounded (annually = 1)
  • t = Number of Years

Example of SSY Calculation

Let’s assume:

  • You invest ₹50,000 per year.
  • The interest rate is 7.6% per annum.
  • You deposit for 15 years but the maturity is after 21 years.

Step 1: Total Investment
₹50,000 × 15 years = ₹7,50,000

Step 2: Interest Calculation
The total corpus with interest at maturity = ₹21,74,226

So, your ₹7,50,000 investment grows to approximately ₹21.74 lakh after 21 years.

Benefits of Sukanya Samriddhi Yojana

  • High Interest Rate: SSY offers one of the highest interest rates among small savings schemes.
  • Tax-Free Returns: Exempt under Section 80C (investment, interest, and maturity amount).
  • Secure Investment: Government-backed scheme ensures safety.
  • Long-Term Growth: A 21-year maturity period helps accumulate a significant corpus.

How to Use the SSY Calculator?

  1. Enter the annual deposit amount.
  2. Select the interest rate as per the current SSY rate.
  3. Click Calculate to get the maturity amount.
  4. View the total interest earned and final corpus.

Frequently Asked Questions (FAQs)

Parents or legal guardians can open an SSY account for a girl child below 10 years of age.

The minimum deposit is ₹250 per year, and the maximum is ₹1.5 lakh per year.

The account matures after 21 years from the date of opening or when the girl child turns 18 and gets married.

Partial withdrawal of up to 50% is allowed when the girl child turns 18 for education or marriage.

Yes, the SSY account can be transferred to any bank or post office within India.

Conclusion

The Sukanya Samriddhi Yojana Calculator helps parents plan for their daughter’s future by estimating the maturity amount and total interest earned. With high returns and tax benefits, SSY is an excellent long-term investment for securing a girl child’s financial future.