Sukanya Samriddhi Yojana Calculator - Estimate Maturity Amount & Returns
Use our Sukanya Samriddhi Yojana Calculator to estimate the maturity amount, interest earned, and plan your daughter's financial future effectively.
Sukanya Samriddhi Yojana (SSY) Calculator - Estimate Maturity Amount & Returns
The Sukanya Samriddhi Yojana (SSY) is one of the most popular government-backed savings schemes in India aimed at securing the financial future of a girl child. It provides parents with an opportunity to invest systematically and earn attractive returns while enjoying tax benefits under Section 80C of the Income Tax Act. Our SSY Calculator allows you to calculate the maturity amount, total interest earned, and year-wise growth of your investment, making it easier to plan your daughter's future.
What is Sukanya Samriddhi Yojana?
Sukanya Samriddhi Yojana, launched under the Beti Bachao Beti Padhao initiative, is designed specifically for girls under the age of 10. Parents or guardians can open an SSY account in the name of a girl child and invest between ₹250 and ₹1,50,000 annually. The account matures after 21 years or upon the marriage of the girl child after she turns 18.
SSY offers one of the highest interest rates among government-backed savings schemes in India, making it an ideal investment for long-term wealth creation. This calculator helps you estimate your returns, showing exactly how much your investment can grow over time.
Why Use Our SSY Calculator?
Planning your daughter's financial future can be challenging without a clear understanding of how savings grow over time. Our SSY Calculator allows you to:
- Quickly estimate the maturity amount based on your annual investment.
- Calculate total interest earned over the tenure of the SSY account.
- See a year-wise breakdown of contributions and interest accrual.
- Compare different investment scenarios to make informed decisions.
How to Use the Sukanya Samriddhi Yojana Calculator
Using our calculator is simple and straightforward. Follow these steps:
- Enter the annual investment amount you plan to deposit (minimum ₹250, maximum ₹1,50,000).
- Provide the age of the girl child (between 0 to 10 years).
- Select the starting year of investment.
- Click the “Calculate” button to see the maturity amount, interest earned, and year-wise growth.
- Optionally, adjust the investment amount or start age to compare multiple scenarios.
Understanding Sukanya Samriddhi Yojana Returns
The maturity amount of an SSY account depends on:
- Annual Investment: The amount you deposit each year.
- Interest Rate: The SSY interest rate, which is set by the government quarterly.
- Investment Tenure: The number of years the money remains invested.
The SSY account earns interest on both the principal and the accumulated interest (compounding), which helps the investment grow significantly over the long term. Using our calculator, you can see the compound growth effect clearly.
Example Calculation Using Our SSY Calculator
Let’s assume:
- Annual Investment: ₹50,000
- Interest Rate: 8% per annum (as per current government rate)
- Investment Tenure: 21 years
Using our SSY Calculator, the maturity amount would be approximately ₹31,00,000, with total interest earned around ₹12,50,000. This example clearly shows the power of systematic investment and compounding over time.
Benefits of Investing in Sukanya Samriddhi Yojana
- High interest rate compared to other government-backed savings schemes.
- Principal and interest are completely tax-free under Section 80C.
- Long-term savings plan specifically for the girl child.
- Encourages disciplined investment and financial planning.
- Flexible investment options with minimum deposit of ₹250 and maximum of ₹1.5 lakh per year.
Common FAQs About Sukanya Samriddhi Yojana
1. What is the minimum and maximum annual investment for SSY?
The minimum annual investment is ₹250, while the maximum is ₹1,50,000 per year.
2. At what age does the SSY account mature?
The account matures after 21 years from the date of opening or upon the marriage of the girl child after she turns 18, whichever is earlier.
3. Are the returns from SSY taxable?
No, the principal and interest earned in SSY are completely tax-free under Section 80C of the Income Tax Act.
4. Can I withdraw money from the SSY account before maturity?
Partial withdrawals up to 50% of the deposited amount are allowed after the girl child reaches 18 years of age for her higher education or marriage.
5. Can I invest in SSY for more than one girl child?
Yes, a separate account can be opened for each eligible girl child in the family, subject to the maximum investment limit per account.
Tips for Maximizing Your SSY Returns
- Start investing as early as possible to take advantage of long-term compounding.
- Contribute the maximum permissible amount each year to maximize the maturity value.
- Review and adjust investments annually to match changing financial goals.
- Use our SSY Calculator regularly to track and project your returns effectively.
Conclusion
Investing in the Sukanya Samriddhi Yojana is a smart choice for securing your daughter’s future. Our online SSY Calculator makes it easier for Indian parents to plan, invest, and project the maturity amount accurately. By entering a few simple details, you can get a detailed breakdown of your investment growth and interest earned over the years. This tool not only saves time but also helps you make informed financial decisions for long-term benefits.
Start using our SSY Calculator today and take the first step towards building a secure and prosperous future for your daughter. Make the most of this government-backed scheme and enjoy the dual benefits of high returns and tax savings.
Disclaimer: The Sukanya Samriddhi Yojana Calculator provides estimated values based on inputs and current government interest rates. Actual returns may vary. This tool is for informational purposes only and does not constitute financial advice.