Sukanya Samriddhi Yojana Calculator helps you plan your investment in the Sukanya Samriddhi Yojana (SSY) scheme. Using this calculator, you can easily find out how much money you’ll get after the scheme ends. It is simple and easy to use, perfect for parents who want to secure their daughter’s future.
In this article, you will see how the SSY calculator works and how to calculate the maturity amount after 21 years. This will help you understand how your investment grows over time.
We will also talk about the benefits and some limits of the SSY calculator. Knowing these will help you make smart, informed decisions when investing.
Additionally, you will find out who can invest in Sukanya Samriddhi Yojana and what documents you need to open an account.
Click here to read more about Sukanya Samriddhi Yojana in Hindi
Overview of Sukanya Samriddhi Yojana Calculator 2025
- Sukanya Samriddhi Yojana or SSY is a savings scheme started by the Government of India in 2015 under the Beti Bachao, Beti Padhao Campaign. Parents and guardians can open an SSY account for a girl child at post offices or banks.
- The government updates the interest rate every three months. For April to June 2024, the interest rate is 7.60% per year.
- The minimum yearly deposit is Rs. 250, and the maximum is Rs. 1.5 lakh.
- To keep the account active, you must deposit at least Rs. 250 every year for 15 years.
- The interest earned is added to the account annually. You can withdraw the full amount when the girl turns 21 years or gets married, whichever comes first.
- At 18 years of age, you can withdraw up to 50% of the money for her higher education. The remaining money will continue to earn interest for the next three years.
- Early withdrawal is allowed only if the girl child dies or has a serious medical condition needing lifelong treatment.
- The account stops earning interest after 21 years when the scheme matures.
Learn How to Open a Sukanya Samriddhi Account
Main Benefits of Using Sukanya Samriddhi Yojana Calculator
- Understand the exact maturity amount your investment will grow to by the end of the scheme.
- Calculate the maturity value based on yearly or quarterly deposits.
- Helps avoid mistakes that can happen with manual calculations.
- Quickly change the investment amount and see results right away.
- Easy to use from your home without needing expert help.
Who Can Use the SSY Calculator? Eligibility Criteria
- The girl in whose name the account is opened must be an Indian citizen.
- The account can only be opened for girls under 10 years of age.
- Each family can open accounts for up to two girls under this scheme.
Know More About Kanya Sumangala Yojana
How Does the Sukanya Samriddhi Yojana Calculator Work?
The calculator estimates how much money you will get back based on your investment and the scheme’s duration. It helps you plan your daughter’s future by calculating the maturity amount.
Here are its main assumptions:
- You deposit the same amount every year for 15 years.
- No deposits are made after 15 years until maturity at 21 years.
- The interest rate is constant at 7.6% throughout the 21-year period.
- Deposits are assumed to be made at the start of each financial year, usually April 1.
- No withdrawal is made before maturity except as allowed by scheme rules.
Example of Using the SSY Calculator
Imagine Mr. and Mrs. Srinath open an SSY account for their daughter Nitya when she is born. They invest Rs. 50,000 each year for 14 years without withdrawing any amount.
At the current interest rate of 7.60%, their total investment of Rs. 7 lakhs will earn Rs. 14,14,196 in interest over 21 years. When Nitya turns 21, the total amount will be Rs. 21,14,196.
Step-by-Step Working of SSY Calculator
- Choose the year you started the investment, not earlier than 2015.
- Enter yearly investment amount between Rs. 250 and Rs. 1,50,000.
- The calculator will show you the maturity amount and total investments by the end of the term.
- For example, starting in 2015 and investing Rs. 1,50,000 yearly will give a maturity value of Rs. 65,93,071 in 2036.
Formula Used to Calculate Maturity Amount
The scheme uses this compound interest formula:
A = P(1 + r/n)^(nt)
- A = Maturity amount
- P = Principal or total invested amount
- r = Interest rate (decimal)
- n = Number of compounding periods per year (usually 1)
- t = Total number of years
For example, if you invest Rs. 50,000 annually for 14 years without withdrawing, and the scheme runs for 21 years, you can calculate using this formula with the fixed rate of 7.6%.
Lock-in Period and Investment Rules
The SSY scheme has a lock-in period of 21 years. You must invest at least once every year for 14 years, with a minimum amount of Rs. 250 and a maximum of Rs. 1,50,000 per year. After the 15th year, you can stop deposits, but the account will keep earning interest until maturity.
How the SSY Calculator Helps You
This free online tool makes it easy to calculate your maturity amount. It’s made especially for parents and guardians who want to know how much their investment in the Sukanya Samriddhi Yojana will be worth in the future.
Watch Out for These Limits
- If the calculator is not set correctly, it can give wrong results.
- It may let you enter investments above Rs. 1.5 lakh, which the scheme does not accept.
- The interest rate is fixed in the calculator; if the government changes it, you need to recalculate yourself.
Remember, the calculator assumes many factors. Make sure you understand these before relying fully on its results.