Sukanya Samriddhi Yojana Calculator

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Sukanya Samriddhi Yojana (SSY) was launched in 2015 by the government of Indian as part of the ‘Beti Bachao, Beti Padhao’ Campaign. Under this scheme, a girl’s guardian can open a savings account in her name with an authorized Indian post office branch or a commercial bank. It makes a perfect savings scheme that parents can buy to give wings to their girl child. Moreover, they can avail tax benefits on the principal amount, the maturity proceeds and the interest earned. And with the help of a Sukanya Samriddhi Yojana calculator, it is easier to calculate the returns on the invested amount as per the tenure. Let’s delve in to the details of the SSY online calculator: 

Key Features of Sukanya Samriddhi Yojana Calculator

Below are some of the features of Sukanya Samriddhi Yojana calculator including pre-requisites to perform the calculation and the ease it offers:

  • Enter the age of the girl child  
  • Provide the amount of contribution made ( the minimum contribution amount is Rs. 250) and the maximum amount of contribution is Rs. 1.5 lakh during a financial year  
  • As of 1st July 2019, the rate of interest offered by Sukanya Samriddhi Yojana scheme is 8.5%
  • With the help of the calculator, the parents can easily get an estimate of the returns for the entire investment duration. The maturity duration of the scheme is 21 years. 

Eligibility Criteria to use the Sukanya Samriddhi Yojana Calculator

All the individuals who want to invest in the Sukanya Samriddhi Yojana scheme can check the maturity amount that they will receive by using the Sukanya Samriddhi Yojana Calculator. There is a certain eligibility criterion that an individual needs to meet in order to use the SSY calculator or to open the Sukanya Samriddhi Yojana Account:

  • A maximum of two girls can be insured from a single family
  • The account holder girl should be a resident of India
  • The age of the girl child should not be more than 10 years
  • The partial withdrawal facility is only available after the insured girl attains 18 years of age
  • The amount deposited should be for a minimum duration of 15 years from the date of opening
  • The interest is decided by the Government of India and is subjected to changes

Benefits of using Sukanya Samriddhi Yojana Calculator

The Sukanya Samriddhi calculator can be used to evaluate the total savings and maturity amount at the end of the policy term:

  • It makes it convenient  to evaluate the amount that gets credited after maturity
  • Eliminates the possible mistakes during manual calculations
  • Helps to find out the maturity value according to both monthly and yearly contributions

How to Calculate Returns on Sukanya Samriddhi Yojana?

Currently, the interest rate of the Sukanya Samriddhi Yojana is 8.5% annually. The interest rate is governed by the Ministry of Finance. The scheme requires an individual to make a minimum of one contribution in a financial year until completion of 14 years. The calculation of the final amount is done on the basis of your net invested amount plus the interest earned.

The Sukanya Yojana calculator uses the following formula to generate results:

Compound interest = Principal amount (1 + Rate of interest / Number of times interest compounds in a year) * Number of years 

What Does the Sukanya Samriddhi Yojana Calculator Show Online?

The Sukanya Samriddhi Yojana Online Calculator assesses the information provided by an individual. Based on the information, the calculator showcases the maturity value, break-up of the amount that can be invested in monthly schemes, the interest rate as per the maturity value. 

Calculation of Maturity Value under Sukanya Samriddhi Yojana after 21 Years

It can be difficult to calculate the maturity amount manually with so many variables involved in the calculation. However, we have taken constant variable values like the interest rate and the invested amount to calculation the maturity value, they are:

  • Yearly contributions here are assumed to be Rs. 6500 to be deposited on April 01 of every financial year
  • The Interest rate is assumed to be 8.4% for a deposit period of 15 years and a maturity period of 21 years
  • A fixed amount of yearly contributions ( no withdrawals) are made in the below table 

Sukanya Samriddhi Yojana Calculation Table 1

Here Rs. 6500 is invested one time in a year for 15 years.

Financial Year Amount Deposited Once Every Year (Rs.) Interest Earned(Rs.) Year End Balanced(Rs.)
1 6500 494.04 6994.00
2 6500 1025.52 14520.00
3 6500 1597.56 22618.00
4 6500 2212.92 31331.00
5 6500 2875.20 40706.00
6 6500 3587.64 50794.00
7 6500 4354.32 61648.00
8 6500 5179.20 73327.00
9 6500 6066.84 85894.00
10 6500 7021.92 99416.00
11 6500 8049.60 113966.00
12 6500 9155.40 129621.00
13 6500 10345.20 146466.00
14 6500 11625.36 164591.00
15 6500 13002.96 184094.00
16 0 13991.16 198085.00
17 0 15054.48 213139.00
18 0 16198.56 229338.00
19 0 17429.64 246768.00
20 0 18754.32 265522.00
21 0 20179.68 285702.00

*The able table is based on assumptions and is for reference purposes only. The amount is deposited one time annually

Sukanya Samriddhi Yojana Calculation Table 2

Here Rs. 10,500 is invested twice in a year for 15 years:

Financial Year Amount Deposited (10500+10500) (Rs.) Interest Earned(Rs.) Year End Balanced(Rs.)
1 21000 1197.00 22197.00
2 21000 2883.96 46081.00
3 21000 4699.20 71780.00
4 21000 6652.32 99432.00
5 21000 8753.88 129186.00
6 21000 11015.16 161201.00
7 21000 13448.28 195649.00
8 21000 16066.32 232715.00
9 21000 18883.32 272598.00
10 21000 21914.40 315512.00
11 21000 25175.88 361688.00
12 21000 28685.28 411373.00
13 21000 32461.32 464834.00
14 21000 36524.40 522358.00
15 21000 40896.24 584254.00
16 0 45201.36 629455.00
17 0 48606.24 677263.00
18 0 52240.80 728737.00
19 0 56152.74 784121.00
20 0 60361.98 843714.00
21 0 64891.02 907836.00

*The able table is based on assumptions and is for reference purposes only. The amount is deposited twice annually

The same way anyone can invest in a safe and secured future of their girl child. And with the help of the Sukanya Samriddhi Yojana Calculator (SSY Calculator), one can easily evaluate the returns and the maturity value.

Sukanya Samriddhi Yojana FAQs

Q1. How many Sukanya Samriddhi Yojana accounts can be created? 

Ans: Under the name of one girl child, only one Sukanya Samriddhi Yojana account is permitted. However, parents or guardians can get two accounts created for two daughters.


Q2.What is the maximum deposit limit in a year?   

Ans:A person can invest a maximum of Rs. 1.5 lakh during a financial year.


Q3.Who can open a Sukanya Samriddhi Yojana account?   

Ans:Parents/Guardians of girl children less than 10 years of age can open an SSY account in her name.


Q4.What is the minimum amount that can be invested in Sukanya Samriddhi Yojana Scheme?  

Ans:The minimum amount that can be invested is Rs. 1000 in the SSY Scheme.


Q5.What is the maturity period of an SSY account?   

Ans:The maturity period is 21 years, and the amount can be deposited for 15 years. And the interest on the deposited corpus will be earned from the 15th to the 21st year. The amount can be used for girls marriage or higher education.


Q6.Are premature withdraw permissible from an SSY account?  

Ans:Partial withdrawals are permissible to the account holder girl child once she is 18 years old. A maximum of 50% of withdrawals are allowed for the purpose of marriage or higher education.


Q7.Do I get tax benefits on the Sukanya Samriddhi Yojana scheme?   

Ans:The SSY accounts scheme offers tax saving benefits up to Rs. 1.5 Lakh u/s 80C during a financial year.


Q8. Is it possible to close the SSY account before the completion of the maturity period?    

Ans:You can close the Sukanya Samriddhi Yojana account in case of unforeseen circumstances like the death of the accountholder or terminal illness. The scheme is terminated once the approval is given by the Central Government.

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