Sukanya Samriddhi Yojana - SSY Calculator

Calculate Maturity Amount for your Recurring SSY

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Please enter deposit amount between 250/- to 1,50,000/-
Years Please enter age between 1 to 10 years
Years Please enter year between 2018 to 2030

Maturity Amount

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Sukanya Samriddhi Yojana Calculator

The Sukanya Samriddhi Yojana (SSY) Calculator is an easy-to-use financial tool that helps you estimate the maturity amount of your investment in the SSY scheme. This online calculator enables parents and guardians to plan their contributions effectively, ensuring a secure financial future for their girl child.

What is Sukanya Samriddhi Yojana (SSY) Scheme?

Launched by the Government of India as part of the 'Beti Bachao, Beti Padhao' initiative, the Sukanya Samriddhi Yojana (SSY) is a long-term savings scheme designed exclusively for the welfare of girl children. It allows parents or guardians to open an SSY account in their daughter’s name, enabling them to accumulate savings for her education and marriage.

This scheme offers tax benefits under Section 80C of the Income Tax Act and provides attractive interest rates.

What is Sukanya Samriddhi Yojana (SSY) Calculator?

The SSY Calculator is a digital tool designed to help parents estimate the maturity value of their investment in the Sukanya Samriddhi Yojana. By inputting details like annual contribution, the child’s age, and the year of investment, users can determine the expected corpus at maturity. This calculator simplifies financial planning by providing instant results.

How Does the SSY Calculator Work?

The SSY Calculator uses the compound interest formula to estimate the maturity amount. The formula applied is:
• A = P(1 + r/n) ^ nt

Where:
• A = Maturity Amount
• P = Annual Investment
• r = Interest Rate
• n = Compounding Frequency (Yearly for SSY)
• t = Number of Years

The calculator factors in the government-declared interest rates and provides an estimate of the total amount that can be withdrawn at maturity.

SSY Calculator Example

Let’s understand how the Sukanya Samriddhi Yojana (SSY) Calculator works with an example.

Consider an individual investing ₹1,50,000 annually for 15 years at an 8.2% compounded annual interest rate. The goal is to find the total corpus after 21 years, with contributions stopping after 15 years but investment continuing to grow.

The total accumulated amount after 15 years would be ₹45.25 lakh, including interest. However, allowing the investment to grow for 6 more years without additional deposits, the final maturity amount grows to ₹72.98 lakh.

Year-wise Breakdown:
YearOpening BalanceAnnual DepositInterest EarnedClosing Balance
1₹0₹1,50,000₹12,300₹1,62,300
2₹1,62,300₹1,50,000₹25,133₹3,37,433
3₹3,37,433₹1,50,000₹38,972₹5,26,405
4₹5,26,405₹1,50,000₹53,855₹7,30,260
5₹7,30,260₹1,50,000₹69,833₹9,50,093
6₹9,50,093₹1,50,000₹86,963₹11,87,056
7₹11,87,056₹1,50,000₹1,05,308₹14,42,364
8₹14,42,364₹1,50,000₹1,24,936₹17,17,300
9₹17,17,300₹1,50,000₹1,45,920₹20,13,220
10₹20,13,220₹1,50,000₹1,68,341₹23,31,561
11₹23,31,561₹1,50,000₹1,92,280₹26,73,841
12₹26,73,841₹1,50,000₹2,17,827₹30,41,668
13₹30,41,668₹1,50,000₹2,45,078₹34,36,746
14₹34,36,746₹1,50,000₹2,74,134₹38,60,880
15₹38,60,880₹1,50,000₹3,05,103₹43,15,983
16₹43,15,983₹0₹3,54,711₹46,70,694
17₹46,70,694₹0₹3,83,000₹50,53,694
18₹50,53,694₹0₹4,14,402₹54,68,096
19₹54,68,096₹0₹4,48,780₹59,16,876
20₹59,16,876₹0₹4,86,585₹64,03,461
21₹64,03,461₹0₹5,28,284₹69,31,745

This example illustrates the power of compounding, where even after stopping contributions, the investment continues to grow significantly over time.

How to Use ABCD’s Sukanya Samriddhi Yojana Calculator?

Using ABCD’s SSY Calculator is simple and requires just three inputs:

Enter the Annual Investment Amount
This is the amount you plan to contribute each year.

Enter the Girl's Age
This helps determine the investment duration.

Enter the Starting Year of Investment
This is used to calculate the maturity period and expected returns.

Once these details are entered, the calculator instantly provides the estimated maturity value and the year when the investment matures.

Who Can Use the SSY Calculator?

The SSY Calculator is useful for:
• Parents planning their daughter’s education or marriage expenses.
• Guardians managing financial investments for a girl child.
• Financial advisors helping clients with long-term savings plans.
• Anyone looking to leverage the tax benefits under Section 80C.

Advantages of Using Sukanya Samriddhi Yojana Calculator

  • Quick & Accurate Estimates
    Get instant calculations without manual effort.
  • Easy Financial Planning
    Helps parents determine how much to invest annually.
  • Tax Benefits Analysis
    Understand the tax exemptions applicable under SSY.
  • Government-Regulated
    Uses official interest rates for accurate results.
  • Future Corpus Visualisation
    Helps in mapping out financial goals for your child.

How Can I Use the Corpus Accumulated from SSY Contributions?

The funds accumulated in an SSY account can be used for:

  • Higher Education
    Covering tuition fees, accommodation, and educational materials.
  • Marriage Expenses
    Ensuring financial preparedness for wedding-related costs.
  • Financial Security
    Creating a stable financial foundation for the girl child’s future.

The Formula for Calculating the Maturity Value From Sukanya Samriddhi Yojana

The below formula is used to calculate the result-
A= P(1+r/n) ^ nt
A is the compound interest
P is the principal amount
n is the number of times interest gets compounded in a year
t is the number of years
r is the rate of interest
While this formula can help determine the maturity value, individuals can use an SSY calculator to find the result quickly.

Why to use a Sukanya Samriddhi Yojana Calculator?

An SSY calculator is a tool that calculates the maturity value of the SSY scheme. Individuals who want to subscribe to the SSY must use this calculator as it can help to create a good financial plan for their daughter.

How to Use a Sukanya Samridhhi Yojana Calculator?

In order to use this calculator, the user needs to enter a few details, such as-
  • The investment amount per year.
  • The girl child’s age.
  • The starting year of the investment.

As the Government of India decides the interest rate, individuals aren’t required to enter this detail in the calculator. Currently, the interest rate is 7.6%.
Once the details are entered, the maturity value of the investment will be calculated. The calculator will also help the user find out the maturity year.
Under this scheme, there is a lock-in period of 21 years. However, from the 15th year, the subscriber is allowed to not make any contributions. But the SSY account will earn returns on the invested amount. Subscribers must keep in mind that they need to make an investment at least once a year for 14 years to keep the account active.
Let’s take a look at an example to understand how the investment will grow during the tenure-
Mr. Tripathi open an SSY account when their daughter was born. They make an investment of Rs. 1 Lakh every year for 15 years.
Investment amount- Rs. 1 Lakh
Interest Rate- 7.6%
Investment Tenure- 15 years

Year

Deposit Made

Previous Balance

Interest

Investment Value

1

Rs. 1,00,000

Nil

Rs. 7,600

Rs. 1,07,600

2

Rs. 1,00,000

Rs. 1,07,600

Rs. 15,777.60

Rs. 2,23,378

3

Rs. 1,00,000

Rs. 2,23,378

Rs. 24,576.72

Rs. 3,47,955

4

Rs. 1,00,000

Rs. 3,47,955

Rs. 34,044.60

Rs. 4,82,000

5

Rs. 1,00,000

Rs. 4,82,000

Rs. 44,232

Rs. 6,26,232

6

Rs. 1,00,000

Rs. 6,26,232

Rs. 55,193.64

Rs. 7,81,426

7

Rs. 1,00,000

Rs. 7,81,426

Rs. 66,988.32

Rs. 9,48,414

8

Rs. 1,00,000

Rs. 9,48,414

Rs. 79,679.52

Rs. 11,28,094

9

Rs. 1,00,000

Rs. 11,28,094

Rs. 93,335.16

Rs. 13,21,429

10

Rs. 1,00,000

Rs. 13,21,429

Rs. 1,08,028.56

Rs. 15,29,458

11

Rs. 1,00,000

Rs. 15,29,458

Rs. 1,23,838.80

Rs. 17,53,297

12

Rs. 1,00,000

Rs. 17,53,297

Rs. 1,40,850.60

Rs. 19,94,148

13

Rs. 1,00,000

Rs. 19,94,148

Rs. 1,59,155.28

Rs. 22,53,303

14

Rs. 1,00,000

Rs. 22,53,303

Rs. 1,78,851

Rs. 25,32,154

15

Rs. 1,00,000

Rs. 25,32,154

Rs. 2,00,043.72

Rs. 28,32,198

16

Nil

Rs. 28,32,198

Rs. 2,15,247

Rs. 30,47,445

17

Nil

Rs. 30,47,445

Rs. 2,31,605.88

Rs. 32,79,051

18

Nil

Rs. 32,79,051

Rs. 2,49,207.84

Rs. 35,28,259

19

Nil

Rs. 35,28,259

Rs. 2,68,147.68

Rs. 37,96,407

20

Nil

Rs. 37,96,407

Rs. 2,88,526.92

Rs. 40,84,934

21

Nil

Rs. 40,84,934

Rs. 3,10,455

Rs. 43,95,389


The maturity value of this investment will be Rs. 43,95,389.

Rules for Withdrawal

When the Account Matures

The girl can withdraw the entire amount when the account matures. However, to withdraw the funds, she’ll have to submit the required documents.

When the Girl Child is 18 Years of Age


If the girl requires funds to pay for her education, then she can withdraw money from the account. However, the girl must be 18 years of age to make the withdrawal. She’s required to submit the necessary documents to withdraw the funds.

Rules for Premature Withdrawal

When the Girl Child is 18 Years of Age

Once the girl child is 18 years of age, she can make a premature withdrawal. She can use this money to pay for education or get married.

Citizenship Status Change

As this scheme is available for Indian citizens solely, it becomes important to notify the bank or the Post Office about any change in the citizenship status of the girl child.

In case of the Girl Child’s Death

The legal guardian can withdraw the amount in case of the girl child’s death.

Documents Required to Open an SSY Account

  • The account opening form.
  • The girl child’s birth certificate.
  • The depositor and girl child’s identity proof.
  • The depositor’s address proof.
  • A medical certificate is necessary in case of twins or triplets.

By investing in Sukanya Samriddhi Yojana, individuals can accumulate funds for their daughters. These funds can be used for their girl child’s future expenses, like marriage and education costs.

SSY Calculator FAQs (Frequently Asked Questions)

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

The maximum amount you can deposit annually in an SSY account is ₹1.5 lakh.

What is the maturity period of an SSY account?

The maturity period of an SSY account is 21 years from the date of opening.

Can I open 2 Sukanya Samriddhi Yojana accounts?

Yes, you can open one SSY account for each of your two daughters.

Can parents withdraw money from the Sukanya Samriddhi Yojana account?

Parents cannot withdraw money, only the girl child can make withdrawals, typically after turning 18 years, for education or marriage.

What is Sukanya 1000 per month?

Sukanya 1000 per month refers to depositing ₹1,000 every month in an SSY account, which will accumulate over time to fund the girl child’s future needs.

What is the deposit for SSY after 15 years?

After 15 years, parents can stop depositing money, but the account continues to earn interest on the deposited amount until maturity.

Can I deposit ₹10 lakh in Sukanya Samriddhi?

No, the maximum yearly deposit allowed in SSY is ₹1.5 lakh, but you can spread out multiple deposits across different years.

Is the SSY interest rate fixed?

The SSY interest rate is not fixed and is set by the government of India, which can change every quarter.

DisclaimerThe information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.