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

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How Does the Sukanya Samriddhi Yojana Calculator Work?

The SSY calculator uses the following formula to determine the maturity amount:

For example:

Let’s assume the SSY account again offers an interest rate of 8.2% p.a. Now, let's calculate the maturity amount if you deposit Rs. 30,000 every year for 21 years in the SSY account. According to the formula and the usual compounding, at the end of 21 years, you will receive Rs. 14,36,424 at maturity. The table below illustrates the calculations for each year:

Maturity Amount for Different Investments

The table below shows the final amount you will receive at maturity based on different annual deposit amounts:

Tax Benefits Calculation of Sukanya Samriddhi Yojana

The deposited amount in the SSY account is eligible for a tax deduction of up to Rs. 1,50,000 per year under Section 80C of the Income Tax Act in the old regime. The interest earned on the deposit and the maturity amount are both tax-free.

Example Tax Calculation

If your annual income is Rs. 7,50,000 and you have invested Rs. 1,35,000 in Sukanya Samriddhi Yojana, your taxable income would be calculated as follows:

• Yearly Income = Rs. 7,50,000

• Standard deduction = Rs. 50,000

• Deduction under Section 80C for SSY = Rs. 1,35,000

• Your final taxable income would be = Rs. 5,65,000

You will pay a tax of Rs. 33,800. If you had not invested in Sukanya Samriddhi Yojana, you would have paid a tax of Rs. 59,400.

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 2025?

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.