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The government has introduced a government-backed savings scheme for girl children called Sukanya Samriddhi Yojana (SSY). The programme was introduced as a part of the government’s Beti Bachao, Beti Padhao campaign, which aims to improve the future of girls.

In comparison to other savings plans, the Sukanya Samriddhi Yojana has a higher interest rate and offers highly generous tax advantages. The sukanya samriddhi yojana scheme calculator or SSY calculator can be used by those who want to open and contribute to an SSY account to plan the future of their female child.

You will learn about SSY and also about how to use the sukanya samriddhi yojana scheme calculator to make better financial plans for your girlchild here:

What is Sukanya Samriddhi Yojana?

Sukanya Samriddhi Yojana, or SSY account, is a small deposit scheme supported by the Government of India. The SSY account can be opened at any time after the female child’s birth until she reaches the age of ten. You can open an SSY account at any post office or commercial bank branch.

With a minimal initial payment of Rs 250, you can start SSY account for the girl child. The maximum amount you can deposit in the SSY account in a fiscal year is Rs 1.5 lakh. To ensure a bright future for a girl child, an SSY account can be opened in her name. The funds can be used for a girl child’s higher education or marriage expenses. 

You could take up to 50% of the sum for the girl child’s higher education expenses in between. For the July to September quarter of 2021, the SSY account currently offers an annual interest rate of 7.6%.

Using the sukanya samriddhi yojana scheme calculator, you can know about the maturity amount after deposits. The amount deposited in the SSY account is tax deductible up to Rs 1.5 lakh per year under Section 80C of the Income Tax Act. The interest earned on the deposit and the amount withdrawn at maturity are tax-free.

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What is the Sukanya Samriddhi Yojana Calculator?

By entering your yearly investment amount, you can use the SSY calculator to estimate the maturity amount. Before opening a Sukanya Samriddhi Yojana account, use the sukanya samriddhi yojana scheme calculator to understand the relationship between the investment and maturity value. The Sukanya Samriddhi Scheme calculator is extremely useful for this purpose.

This calculator is free and easy to use, producing error-free results for a variety of investment amounts. The scheme allows you to invest for a period of 15 years. The investment profits are placed into the girl kid’s account every year, and the girl can withdraw when she reaches the age of 21 or marries. 

Eligibility for Sukanya Samriddhi Yojana

Legal guardians of a girl child can open an SSY account and check the maturity amount through the sukanya samriddhi yojana scheme calculator if the following conditions are met: 

  1. The girl must be an Indian citizen.
  2. She should not be older than 10 years.
  3. If a family has two female children, they can only have two accounts. In the case of twins, the guardian may register a third account for the third girl kid.
  4. The SSY account plan allows the girl’s parents or legal guardians to open and maintain the account.
  5. Identity verification from a parent or legal guardian, such as a passport, a PAN card, a driver’s licence, or a ration card.
  6. A passport, driver’s licence, ration card, utility bill, or phone bill from the depositor (parent/legal guardian).
  7. Any other documentation that the relevant authority wants.

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Sukanya Samriddhi Yojana Calculator

The sukanya samriddhi yojana scheme calculator is a simple online tool that allows you to calculate the returns on your SSY investments. The calculator needs a few data and displays the answers instantaneously. You must enter the following information while using the Sukanya calculator:

  • The age of the girl child when you begin the SSY plan.
  • The amount you plan to deposit to your SSY account each year.
  • The year in which you begin the SSY plan.

Based on the provided data, the SSY calculator will calculate and show the following:

  • The total amount of contributions you would have placed in the SSY account. 
  • The total amount of interest or capital gains earned on your investment in the SSY programme.
  • The year in which the SSY will mature.
  • The total worth of your investment, including interest earned.

The Pradhan Mantri Sukanya Samriddhi Yojana Calculator uses the following formula to get results:

Formula: A= P(1+r/n) ^ nt


A = Compound Interest

P = Principal Amount

r = Rate of Interest

t = Number of years

n = Number of times interest

How does the Calculator work?

Based on the amount you enter, the calculator calculates the estimated value you will get on maturity. The SSY scheme will mature 21 years after the account is opened.

A depositor must make annual deposits for a period of 15 years from the date of account opening. The calculator assumes that you have made all of your deposits in the same amount each year.

There are no deposits required between the 15th and 21st years. However, you will continue collecting interest on previous deposits. The calculation chart of sukanya samriddhi yojana considers the interest that will be paid to you during those years.

Also Read: Top investors in Indian stock market

Sukanya Samriddhi Yojana Calculator Benefits

The calculation chart of sukanya samriddhi yojana has several advantages, including:

  • It helps you to know exactly what you will get as the maturity value when the account matures.
  • If you have it set up on an Excel sheet, you can enter what you expect to invest in the current year and see how it affects the maturity value.
  • You can also program the calculator to calculate the maturity value depending on monthly or yearly investments.
  • It can help to eliminate errors that can occur when calculating the maturity value manually.
  • You can adjust the amount you want to invest at any time and still get the maturity value in seconds.

Final thoughts

Sukanya Samriddhi Yojana, or SSY, is the most popular savings plan for a girl child. It encourages parents to begin early financial planning for their child’s future and to invest properly. With a high-interest rate and tax benefits, the net return is significantly higher in the end.

calculation chart of sukanya samriddhi yojana can be used to calculate the same result. With proper and specific statistics of the maturity amount at your fingertips, you can plan your SSY investments carefully to create a financially secure future for your girl.


Who is eligible for a Sukanya Samriddhi Yojana Account?

A girl child under the age of ten can open an account with her natural or legal guardian.

How many accounts can be created under SSY?

A girl child can only have one Sukanya Samriddhi account. A parent or legal carer may open a maximum of two SSY accounts for two girl children.

What is the minimum amount required to open an SSY account?

The minimum deposit for Sukanya Samriddhi Yojana is 250 for fiscal year. 

What is the maximum amount that I can deposit in a year?

The maximum deposit for Sukanya Samriddhi Yojana is 1.5 lakh for a fiscal year.

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