Sukanya Samriddhi Yojana (SSY) Calculator

An SSY Calculator (Sukanya Samriddhi Yojana Calculator) is a specialized online tool that helps parents and guardians estimate the future maturity value of their investments under India’s premier girl child savings scheme. By entering key details such as annual investment amount, the girl child’s current age, and investment duration, you receive an instant projection of accumulated wealth after the 21-year maturity period.

Sukanya Samriddhi Yojana (SSY) is a savings scheme launched back in 2015 as part of the Government initiative Beti Bachao, Beti Padhao campaign.

SSY accounts offer an 8.2% rate of interest. A Sukanya Samriddhi Yojana calculator can help you determine the returns you receive as per the invested amount and tenure.

Who Can Use This Calculator?

• The Sukanya Samriddhi Yojana interest rate for the current period is 8.2%. It may be noted that the interest earned is entirely tax-free in the hands of the guardian.
• The SSY account can only be opened by the legal guardians of the girl child, who must be the biological parents of the child or a court-appointed guardian.
• The SSY account for the girl child should be opened before the age of 10 years. The maturity of the SSY account is 21 years from the date of account opening, and premature closure is permitted on the occasion of the girl’s marriage only after the age of 18.
• Additionally, partial withdrawal of up to 50 % of the balance is allowed for higher education after the girl has completed 10th matriculation education or is 18 years of age.
• The guardian must submit copies of a PAN card, proof of address, proof of identity, and a copy of the registered birth certificate of the girl child.

How to use the Sukanya Samriddhi Yojana Calculator Online?

Just enter the investment amount per year, investment duration, and investment starting year.

The calculator will automatically display the maturity year and the amount you receive upon maturity after you enter the details.

How Does The SSY Calculator Work?

The tenure for maturity for the amount is 21 years. It is important to note that it is important for individuals to make minimum one contribution a year to keep the scheme alive till 14 years are completed.

The individual may choose not to make contributions in the SSY account between years and 21 if they so wish. However, the previous investments made into the account will continue earning on the prevailing interest rate. The final amount is hence calculated based on your net contribution plus interest earned.

The Sukanya Yojana calculator uses the following formula to generate results:-
A = P (1 + r/n) ^ nt
Where –
A – Compound interest
P – Principal amount
r – Rate of interest
n – Number of times interest compounds in a year
t – Number of years

Advantages of Using the SSY Calculator

• It is available online, and you can access it for free.
• It is easy to use and requires no technical knowledge or expertise.
• It provides error-free results, enabling you to rely on the figures displayed.
• It conducts calculations rapidly and displays results within seconds.
• You can use the calculator multiple times if required.
• It is up-to-date with prevailing interest rates and scheme changes.

Sukanya Samriddhi Yojana Calculator FAQs

How many accounts can be created under SSY?

Only one SSY account is permitted for a girl child. The number of accounts guardians can create is restricted to two for each of their girl children. Exceptions are only in the case of twins or triplets.

What minimum and maximum can be invested in an SSY account?

The minimum investment per year is ₹250, and the maximum is ₹1.50 lakhs. To keep the account active, the parent must make at least one SSY deposit in each financial year for the first 15 years. Post which no further deposits are needed as the account continues to earn interest until maturity of 21 years. However, if once rendered inactive, the account can be activated by paying a fine of ₹50.

What documents are required to open an SSY account?

You’ll need the girl child’s birth certificate, address proof, identity proof of the guardian, and passport-size photographs.

Is partial withdrawal allowed from SSY?

Yes, up to 50% of the balance can be withdrawn after the girl turns 18 for education or marriage purposes.

What is the maturity period of an SSY account?

While you can withdraw funds from an SSY Account after the girl child reaches the age of 18, the maturity period for the account is set at 21 years from the date of opening the account. Using the Sukanya Samriddhi Yojana Calculator can help you map out your immediate financial situation and aid in planning for the financial future of the girl child in question.

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