Sukanya Samriddhi Yojana Calculator

Sukanya Samriddhi Yojana (SSY) is a savings scheme that was started in 2015. It is a part of the government initiative Beti Bachao, Beti Padhao campaign. As part of the scheme, you can open a Sukanya Samriddhi Yojana Account for your daughter. The deposited amount can be used for higher education or marriage. Other benefits are affordable interest rates and tax benefits under Section 80C of the Income Tax Act, 1961. SSY accounts offer an interest rate of 8.2%. A Sukanya Samriddhi Yojana Calculator can help you determine the returns you receive according to the invested amount and tenure.

Advantages of using the Sukanya Samriddhi Yojana Calculator

The Sukanya Samriddhi Yojana Scheme is one of the most popular schemes that helps girl’s parents make investments in the name of their child. This is because of the high interest rate and the tax benefits that it offers. Under Section 80C of the Income Tax Act, 1961, Individuals can claim a tax exemption up to Rs. 1.5 lakhs from the amount invested in the SSY account. Also, the income generated from contributing is exempted from tax as well.

The Sukanya Samriddhi Yojana Calculator helps the investor calculate the maturity amount which the beneficiary, i.e. the girl child will be receiving at the end of the scheme’s duration. In this way, the parents or the guardian of the child can decide if investing in this scheme will give them benefits. If this scheme is not suitable, they can choose other similar schemes for investment. The Sukanya Scheme Yojana Calculator has the following advantages

• The calculator simplifies cumbersome calculations.
• Manual calculations are usually very tedious, time-consuming, and susceptible to errors. The SSY calculator eliminates calculation errors due to manual computation, thereby yielding accurate results.
• The calculator gives a fair idea of how much you should contribute regularly to get the desired maturity amount.
• It enables you to plan your investment portfolio more effectively.How Does the Sukanya Samriddhi Yojana Calculator Work?

How Does the Sukanya Samriddhi Yojana Calculator Work?

The SSY Calculator works on the following assumptions

• The tenure of maturity for the amount is 21 years.
• The depositor invests a fixed amount every year
• No investments were made between the 15th and 21st year
• No premature withdrawals were made during the 21st year
• The interest rate remains unchanged throughout the investment period.
• The final amount is computed based on your net contribution plus interest earned.

  The calculator uses the formula

  C = P (1 + r/n) ^ nt

  to compute the results. Here,

  C is the compound interest

  P is the principal amount

  r is the rate of interest

  n = The number of times interest is compounded on an annual basis

  t is the number of years

For example: Say, you want to make an yearly investment of Rs. 10,000 for the first 14 years. No deposits are made between the 15th and the 21st year. Also, the rate of interest will remain constant at 8.2% p.a. throughout the 21 year tenure of your investment. Compounding happens once a year. Also, it is assumed that no premature withdrawal is made during the tenure.

Here are the calculations

Year	Opening Balance	Deposit	Interest Earned	Closing Balance
1	0	10000	820	10820
2	10820	10000	1707.24	22527.24
3	22527.24	10000	2667.23	35194.47
4	35194.47	10000	3705.95	48900.42
5	48900.42	10000	4829.83	63730.26
6	63730.26	10000	6045.88	79776.14
7	79776.14	10000	7361.64	97137.78
8	97137.78	10000	8785.3	115923.08
9	115923.08	10000	10325.69	136248.77
10	136248.77	10000	11992.4	158241.17
11	158241.17	10000	13795.78	182036.94
12	182036.94	10000	15747.03	207783.97
13	207783.97	10000	17858.29	235642.26
14	235642.26	10000	20142.67	265784.92
15	265784.92	10000	22614.36	298399.29
16	298399.29	0	24468.74	322868.03
17	322868.03	0	26475.18	349343.21
18	349343.21	0	28646.14	377989.35
19	377989.35	0	30995.13	408984.48
20	408984.48	0	33536.73	442521.21
21	442521.21	0	36286.74	478807.94

The amount obtained at maturity is 478807.94 + 36286.74 = Rs. 515094.68

How to use Creditmantri’s SSY Calculator?

• Step 1 : Just enter the investment amount per year, your girl child’s age, and the starting year of investment.
• Step 2 : The calculator will automatically display the year of maturity and the maturity amount.

Who can use the SSY Calculator 2025?

Those who are eligible for the Sukanya Samriddhi Yojana Scheme can use the SSY Calculator. The eligibility criteria for the scheme is as follows:

Only a parent or legal guardian can open accounts under the Sukanya Samriddhi Scheme in the girl’s name.

• The girl child must be a resident of India until her SSA account matures.
• Families which have 2 girls can open up to 2 accounts under the SSY scheme.
• If the second girl child is a twin, parents can open a third account.
• The age of the girl child must be below 10 years when the account is opened.
• Operations of the SSY account begin when the girl child becomes 18 years.
• For 15 years, contributions in the range of Rs. 250 to Rs. 1.5 lakhs annually are required to keep the account active.

After opening an account under this scheme, you can use the Sukanya Samriddhi Yojana Calculator online for computing the maturity amount.

FAQs on SSY Calculator