Sukanya Samriddhi Yojana Calculator

What is the Sukanya Samriddhi Yojana Calculator?

The Sukanya Samriddhi Yojana (SSY Calculator) is a tool that helps you estimate the maturity amount you'll get on your investment in the Sukanya Samriddhi Yojana account. The Sukanya calculator shows you how much money you can save for your girl child's education and marriage expenses.

The SSY calculator takes the following details into account:

• Yearly investment amount

• Age of Girl Child

• Starting year of your investment

Illustration

The current interest rate of the Sukanya Samriddhi Yojana: 8.2%

• Annual Amount of Investment = ₹1.5 lakhs

• Your Girl’s Age = 1 year

• Start year of the investment = 2025

• Maturity Year: 2046

The Maturity Value = ₹71,82,101

Thus, the SSY calculator can help you understand the maturity amount.

How to Use the Sukanya Samriddhi Yojana Calculator from Policybazaar?

Follow the three simple steps mentioned below to learn the use of Policybazaar’s Sukanya Samriddhi calculator:

Step 1:

Open the Sukanya Samriddhi Scheme Calculator.

Step 2:

Enter the following information in the Sukanya calculator:

• The yearly amount of investment

• The entry age of the girl child

• Starting year of investment

Step 3:

Click the "Calculate" button.

Final Result:

The Sukanya Samriddhi Yojana calculator will show you the following results:

• Total Amount of Investment

• Total Interest Earned

• Total Maturity Amount

• Maturity Year of SSY Account

People also read: Child Education Plan

Investment

Secure

Secure your child’s future with or without you

Start Investing

₹10,000/Month

& Get

₹1 Crore^*

VIEW PLANS

*Standard T & C Apply

How Does the Sukanya Samriddhi Yojana Calculator Work?

To know the working of the SSY calculator, you need to make sure you meet the following requirements and know the following details of the scheme:

• Maximum annual deposit: Rs. 1.5 lakhs.

• Current interest rate (Jan-Mar 2024): 8.2%.

• Monthly deposits: 1st of every month.

• Yearly deposits: 1st April annually.

• Premature withdrawal only for education/marriage after 18.

• Funds are invested till the girl child's marriage or maturity at 21.

Illustrative Example

Scenario:

• Annual Investment: ₹1,50,000

• Girl's Age at Account Opening: 1 year

• Start Year: 2020

• Interest Rate: 8.2% p.a.

• Maturity Year: 2041 (21 years from 2020)

Calculation:

• Invest ₹1,50,000 every year for 15 years (2020–2034).

• No further deposits after 15 years, but interest continues to compound annually for the remaining 6 years.

• Maturity amount is calculated using the formula for compound interest:

Year-wise Investment and Growth

Note: The above table is illustrative. The actual interest is compounded annually, and the balance grows faster in later years due to compounding. The Sukanya calculator estimates returns based on the above-mentioned parameters.

Final Maturity Value:

₹71,82,101 (as per the example).

In Policybazaar’s Sukanya Samriddhi Yojana calculator, you just need to enter the yearly investment amount, the age of the girl child, and the investment start year, and the calculator will show you the maturity amount instantly.

Who Can Use the SSY Calculator 2024?

If you are eligible for the Sukanya Samriddhi Yojana Scheme, you could use the SSY calculator to plan your investments in the scheme. The following are the eligibility criteria for the scheme:

• Parent or legal guardian of a girl child (below 10 years old).

• The girl child must be a resident of India until account maturity.

• Maximum of two accounts per family (third allowed if second birth results in twins).

• Annual contributions between ₹250 and ₹1.5 lakh for 15 years

• Operations of the SSY account begin when the girl child turns 18 years old.

People also read: Sukanya Samriddhi Yojana Interest Rate 2025

What are the Benefits of Using an SSY Calculator?

Key benefits of the Sukanya Samriddhi Yojana calculator are as follows:

1. Convenient and Easy:

   Web-based, accessible from any device.

2. Error-Free:

   Handles complex compound interest calculations automatically.

3. Quick Results:

   Instant maturity estimates for different scenarios.

4. Financial Planning:

   Helps you plan your daughter’s education and marriage.

5. Up-to-Date:

   Reflects current interest rates for accurate planning

Tax Benefits Under the SSY Scheme

One of the significant advantages of the Sukanya Samriddhi Yojana is its tax efficiency:

1. Tax Deduction under Section 80C:

   Deposits up to ₹1.5 lakh per annum are eligible for deduction under Section 80C of the Income Tax Act, 1961.

2. Tax-Free Interest and Maturity:

   The interest earned and the maturity amount are fully exempt from tax, making SSY an EEE (Exempt-Exempt-Exempt) investment.

Example:

Suppose you invest ₹1.5 lakh per year in Sukanya Samriddhi Yojana Scheme:

1. Annual Investment:

   ₹1,50,000

2. Tax Deduction:

   You can claim up to ₹1,50,000 under Section 80C each financial year.

3. Tax Saved (assuming 30% tax slab):

   ₹1,50,000×30%=₹45,000 per year

4. Interest and Maturity:

   Both are tax-free, so you do not pay any tax on the returns or the final amount received on maturity.