Sukanya Samriddhi Yojana Calculator

Calculate returns, maturity amount, and tax benefits for your girl child's future

Annual Deposit Amount (₹)

₹50,000

Maximum deposit limit: ₹1.5 lakh per year

Girl Child's Age (Years)

5 Years

Account can be opened for girl child from birth till age 10

Investment Starting Year

2024

The year when you start investing in SSY (scheme launched in 2015)

Annual Interest Rate (%)

8.2%

Current SSY interest rate: 8.2% (subject to change quarterly)

Your Annual Income (₹) - For Tax Calculation

₹8,50,000

About Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme launched in 2015 as part of the Beti Bachao, Beti Padhao campaign. This scheme enables guardians to open a savings account for their girl child with an authorized commercial bank or India Post branch.

Key Features:

High interest rate of 8.2% (current rate)
Tax benefits under Section 80C
Maturity period: 21 years from account opening
Partial withdrawal allowed after girl turns 18
Minimum deposit: ₹250 per year
Maximum deposit: ₹1.5 lakh per year

Tax Benefits:

Deposit eligible for deduction up to ₹1.5 lakh under 80C
Interest earned is tax-free
Maturity amount is tax-free
Triple tax exemption benefit (EEE)

📊 Detailed Calculation Breakdown

💰 Total Investment Calculation

Your total investment represents the sum of all annual deposits you make over the 15-year deposit period. Formula: Annual Deposit × Number of Deposit Years (15 years maximum)

Example: If you deposit ₹50,000 annually for 15 years, your total investment = ₹50,000 × 15 = ₹7,50,000

📈 Interest Earned Calculation

Interest is calculated using compound interest formula, compounded annually. The scheme offers one of the highest interest rates among government savings schemes (currently 8.2% per annum). Formula: A = P(1 + r/n)^(nt) - P, where A = Maturity Amount, P = Principal, r = annual interest rate, n = compounding frequency (1 for annual), t = time in years

Example: With ₹50,000 annual deposits at 8.2% interest, your total interest earned over 21 years would be approximately ₹14,50,000

🏦 Maturity Amount Calculation

The maturity amount is the total value of your investment at the end of the 21-year period. It includes both your total deposits and the compound interest earned over the investment period. Formula: Maturity Amount = Total Investment + Interest Earned

Note: The account matures after 21 years from opening, even though deposits are only made for the first 15 years

📅 Maturity Year & Age Calculation

The maturity year is calculated as: Investment Starting Year + 21 years
The girl's age at maturity is calculated as: Current Age + 21 years

Important: The scheme is designed to provide financial support when the girl reaches adulthood, typically around 21-31 years of age

💸 Tax Saved Under Section 80C

SSY deposits qualify for tax deduction under Section 80C of Income Tax Act, up to ₹1.5 lakh per financial year. The tax saved depends on your income tax slab rate. Formula: Tax Saved = Annual Deposit × Tax Slab Rate (subject to ₹1.5 lakh limit)

Example: If you're in 30% tax bracket and deposit ₹1,50,000, your annual tax saving = ₹1,50,000 × 30% = ₹45,000

📊 Effective Tax Rate

This shows your effective tax rate after considering the tax savings from SSY investments. It represents the percentage of tax you save relative to your total income through SSY deductions. Formula: Effective Tax Rate = (Tax Saved ÷ Total Income) × 100

Benefit: Higher SSY investments can significantly reduce your effective tax rate, especially if you're in higher tax brackets

🎯 Key Benefits Summary

Triple Tax Exemption (EEE): Deposits, interest, and maturity amount are all tax-free

High Returns: 8.2% interest rate (higher than most fixed deposits)

Long-term Growth: 21-year investment horizon with compound interest

Flexible Deposits: Deposit any amount from ₹250 to ₹1.5 lakh annually

⚠️ Important Considerations

Interest rates are subject to quarterly review by the government
Partial withdrawal (50%) allowed only after girl turns 18 for education/marriage
Account becomes inactive if minimum ₹250 is not deposited annually
Maximum two accounts per family (three for twins/triplets)
Account must be opened before girl child turns 10 years old

Frequently Asked Questions About SSY

What is Sukanya Samriddhi Yojana?

Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme launched in 2015 under the Beti Bachao, Beti Padhao campaign. It enables guardians to open a savings account for their girl child with authorized banks or India Post branches, offering high interest rates and tax benefits.

How does the SSY calculator work?

Our SSY calculator uses the compound interest formula A = P(1+r/n)^nt to estimate your maturity amount. It considers your annual deposit amount, the girl child's age, interest rate, and investment duration to calculate the total investment, interest earned, maturity amount, and potential tax savings under Section 80C.

What are the tax benefits of SSY?

SSY offers triple tax exemption (EEE) - deposits up to ₹1.5 lakh per year are eligible for deduction under Section 80C, the interest earned is completely tax-free, and the maturity amount is also tax-free. This makes it one of the most tax-efficient investment options in India.

What is the current interest rate for SSY?

The current interest rate for Sukanya Samriddhi Yojana is 8.2% per annum (as of 2024). The interest rate is reviewed and notified by the government quarterly and may change based on economic conditions. The rate is compounded annually.

When can I withdraw money from SSY account?

Partial withdrawal of up to 50% of the balance is allowed after the girl child turns 18 years old for higher education or marriage purposes. The account matures after 21 years from the date of opening, after which the full amount can be withdrawn.

Who is eligible to open an SSY account?

SSY accounts can be opened by parents or legal guardians for girl children from the time of birth until she reaches 10 years of age. Only one account per girl child is allowed, and a maximum of two accounts per family (three in case of twin/triplet girls).

What happens if I miss annual deposits?

If the minimum annual deposit of ₹250 is not maintained, the account becomes inactive. To reactivate, you need to pay a penalty of ₹50 per year along with the minimum deposit for each missed year. Interest will continue to accrue on the existing balance.

How is SSY better than other savings schemes?

SSY offers one of the highest interest rates among government savings schemes, provides triple tax exemption, and is specifically designed for girl child welfare. Compared to PPF, FDs, or other schemes, SSY typically offers better returns with similar risk levels and superior tax benefits.

Understanding Sukanya Samriddhi Yojana: A Complete Guide

Sukanya Samriddhi Yojana stands as one of the most beneficial government-backed savings schemes specifically designed to secure the financial future of girl children in India. Launched in 2015 as a cornerstone of the Beti Bachao, Beti Padhao campaign, this scheme has helped millions of families create substantial savings for their daughters' education and marriage expenses.

Comprehensive Benefits of Sukanya Samriddhi Yojana

The scheme offers an impressive combination of high returns, tax efficiency, and government backing that makes it unparalleled in the Indian savings landscape. With a current interest rate of 8.2% per annum, compounded annually, SSY provides returns that often surpass traditional fixed deposits and many other government savings schemes. The triple tax exemption benefit (EEE) means your deposits, interest earned, and maturity amount are all tax-free, making it exceptionally attractive for tax-conscious investors.

How Our SSY Calculator Enhances Your Investment Planning

Our sophisticated Sukanya Samriddhi Yojana calculator goes beyond simple interest calculations to provide you with comprehensive financial planning insights. By inputting your annual deposit amount, your daughter's age, and your income details, you can accurately project the maturity amount, total interest earned, and potential tax savings under Section 80C. This detailed analysis helps you make informed decisions about your investment strategy and tax planning.

Strategic Investment Planning with SSY

Understanding the power of compound interest is crucial when planning your SSY investments. Since the scheme allows deposits for 15 years and matures after 21 years, starting early can significantly impact your final corpus. Our calculator demonstrates how different deposit amounts and starting ages affect your maturity value, enabling you to optimize your investment strategy based on your financial goals and capabilities.

Tax Optimization Through Sukanya Samriddhi Yojana

The tax benefits of SSY extend far beyond the immediate deduction under Section 80C. By reducing your taxable income by up to ₹1.5 lakh annually, you can potentially save thousands of rupees in taxes each year. Our calculator shows you the exact tax savings based on your income level, helping you understand the true effective return on your investment after considering tax benefits.

Long-term Wealth Creation for Your Daughter's Future

Sukanya Samriddhi Yojana serves as a powerful tool for long-term wealth creation, specifically tailored for major life expenses like higher education and marriage. The scheme's 21-year maturity period aligns perfectly with these significant financial milestones, ensuring that your daughter has substantial financial support when she needs it most. The guaranteed returns and government backing provide peace of mind that your savings will grow safely over time.

Comparing SSY with Other Investment Options

When compared to other popular investment options like Public Provident Fund (PPF), fixed deposits, or mutual funds, Sukanya Samriddhi Yojana often emerges as the superior choice for girl child savings. The combination of high interest rates, tax benefits, and low risk makes it particularly attractive for conservative investors seeking steady growth. Our calculator helps you visualize these advantages by showing projected returns under different scenarios.

Maximizing Your SSY Investment Returns

To maximize your returns from Sukanya Samriddhi Yojana, consider depositing the maximum allowed amount of ₹1.5 lakh annually, starting as early as possible. Regular deposits and avoiding premature withdrawals ensure that you benefit fully from compound interest. Our calculator allows you to experiment with different deposit amounts and frequencies to find the optimal investment strategy for your financial situation.

Understanding the Calculation Methodology

Our Sukanya Samriddhi Yojana calculator employs the standard compound interest formula to provide accurate projections. The calculation considers your annual deposits, the prevailing interest rate, and the investment duration to compute the maturity amount. Additionally, it factors in your income level to calculate potential tax savings, giving you a comprehensive view of your investment's total benefits.

Planning for Multiple Financial Goals

While SSY is primarily designed for education and marriage expenses, the substantial maturity amount can support various other financial goals for your daughter. Whether it's starting a business, purchasing property, or pursuing advanced studies abroad, the accumulated wealth can provide the financial foundation for numerous opportunities. Our calculator helps you plan for these possibilities by showing different maturity scenarios.

Staying Informed About Scheme Updates

The government periodically reviews and updates SSY interest rates and rules. Staying informed about these changes helps you adapt your investment strategy accordingly. Our calculator uses the current interest rate of 8.2%, but we recommend checking for the latest rates and regulations to ensure your calculations remain accurate and relevant.

SSY Investment Tips

Start investing as early as possible
Deposit the maximum amount for better returns
Maintain regular annual deposits
Plan deposits at the start of financial year
Consider your daughter's age for optimal timing
Factor in tax benefits while planning

Important Deadlines

Account opening: Birth to 10 years
Minimum deposit: ₹250 per year
Deposit period: 15 years
Maturity period: 21 years
Partial withdrawal: After 18 years

Required Documents

Girl child's birth certificate
Parent/guardian ID proof
Address proof
Passport size photographs
Initial deposit amount