Sukanya Samriddhi Yojana Calculator
Calculate maturity amount for SSY - Government scheme for girl child education and welfare
Calculate SSY Maturity Amount
Range: ₹250 to ₹1,50,000 (in multiples of ₹50)
Maximum age limit: 10 years
Current rate: 7.6% per annum (updated quarterly by Government)
SSY Investment Results
Effective Annual Return: 0.00%
Tax Savings (30% bracket): ₹0
Interest Compounding: Annual
Tax Status: EEE (Exempt-Exempt-Exempt)
Investment Analysis
Example Calculation
SSY Investment Example
Child's Age: 5 years
Annual Deposit: ₹1,50,000 (maximum)
Interest Rate: 7.6% per annum
Deposit Period: 15 years
Total Deposits: ₹1,50,000 × 15 = ₹22,50,000
Calculation Result
Using compound interest for 21 years:
Deposits for 15 years + Interest compounding for 6 more years
Maturity Amount: ₹65,93,071
Interest Earned: ₹43,43,071
Child's Age at Maturity: 26 years
SSY Key Features
Government-backed scheme for girl child
Current interest rate: 7.6% per annum
Deposit period: 15 years
Maturity period: 21 years
Triple tax exemption (EEE status)
Partial withdrawal allowed for education
Eligibility Criteria
Girl child, resident of India
Age: Below 10 years at account opening
Maximum 2 accounts per family
Birth certificate required
Parent/Guardian ID proof needed
SSY Tips
Start early to maximize compounding benefits
Deposits must be in multiples of ₹50
Penalty of ₹50 for irregular payments
Account can be transferred across banks
Interest rates reviewed quarterly
Understanding Sukanya Samriddhi Yojana
What is Sukanya Samriddhi Yojana?
Sukanya Samriddhi Yojana (SSY) is a small deposit scheme launched by the Government of India to promote education and welfare of girl children. It's part of the 'Beti Bachao, Beti Padhao' campaign and offers attractive returns with complete tax exemption.
Key Benefits
- •Higher interest rate than FD and RD
- •Government-backed, risk-free investment
- •Triple tax benefit (EEE status)
- •Develops disciplined savings habit
SSY Formula
FV = PV × (1 + r)^t
Maturity Amount = Total Deposits + Compound Interest
- FV: Future Value (Maturity Amount)
- PV: Present Value (Annual Deposits)
- r: Annual interest rate (currently 7.6%)
- t: Time period (21 years)
Note: Interest is compounded annually. The scheme has a fixed deposit period of 15 years and maturity period of 21 years.
Tax Benefits
- ✓Section 80C: Deposit amount eligible for deduction
- ✓Section 10: Interest earned is tax-free
- ✓Maturity: Amount received is tax-free
- ✓No TDS on interest earned
- ✓EEE (Exempt-Exempt-Exempt) status
Withdrawal Rules
- •50% withdrawal allowed after girl turns 18
- •Withdrawal for higher education only
- •Can be withdrawn in lump sum or installments
- •Premature closure allowed for marriage
- •Account matures when girl turns 21
SSY vs Other Investment Options
| Investment | Interest Rate | Tax Benefits | Risk | Liquidity |
|---|---|---|---|---|
| Sukanya Samriddhi Yojana | 7.6% | EEE Status | Very Low | Limited |
| PPF | 7.1% | EEE Status | Very Low | Very Limited |
| NSC | 6.8% | Section 80C only | Very Low | No Liquidity |
| ELSS Mutual Funds | 10-15% | Section 80C only | Medium-High | High |