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SSY Calculator | Sukanya Samriddhi Yojana Account – Benefits & Eligibility

Get all the information about SSY calculator – Sukanya Samriddhi Yojana right away!

The sukanya samriddhi yojana – SSY Calculator is a type of savings scheme which was launched back in 2015 under the government initiative of Beti Bachao and the beti padhao campaign. The system allows the parents are the guardians to open savings Account for the girl child with any commercial or authorized India post branch. The sukanya samridhi yojana offers a 7.6% rate of interest currently. When you use the sukanya samridhi yojana calculator, you can calculate the return you would receive on the amount you invested.

what is sukanya samriddhi yojana

The sukanya samriddhi yojana is a type of Government of India-backed small deposit scheme, especially for the girl child. After the birth of the girl child, you can open the sukanya samridhi yojana Account. But you need to know that this Account can be extended until the girl child turns ten. You can open the Account anywhere you want, including in a post office or any other commercial bank.

The best part about choosing this Account is that you have to pay INR 250 as the minimum deposit for the sukanya samriddhi yojana. The maximum amount you can deposit in the sukanya samriddhi yojana is around INR 1.5 lakh annually. The sukanya samriddhi Account would be opened in the name of your girl child, allowing her to have a bright future. You can use that money for higher education or the marriage expenses of that girl. From the opening date of the Account, sukanya samridhi Account is operative for 21 years or until the girl child gets married at 18 years.

You can make some partial withdrawals to 50% of the balance amount for the higher education expense of your girl child. The amount deposited in this Account can also be eligible for the tax deduction under section 80 C of the Income Tax Act. The tax deduction amount will be INR 1.5 lakh. The interest you earn on this deposit and the amount you withdraw during maturity are tax-free.

What Do You Need to Know About The Sukanya Samriddhi Yojana Calculator?

The sukanya samriddhi yojana calculator will help you calculate the interest earned and the amount you will get on the maturity. You can use the calculator to determine the investments’ maturity value, provided you align with the eligibility criteria for the sukanya samridhi yojana.

The sukanya samriddhi yojana calculator features of formula box where you need to enter the deposit amount age of your girl child, which is allowed only up to 10 years and the starting year of your investment. The calculator will show the total interest besides the maturity amount.

The Working of The Sukanya Samriddhi Yojana Calculator

You need to enter the number of deposits besides the age of your girl child in the year you start the investment. This calculator will show you the interest you earned on the investment and the amount you would get on maturity. You can choose the mathematical formula like A= amount of maturity deposit rate will be the rate of interest and n is equal to the number of years the interest compound and t will be equal to several years. The formula is A = P(1+r/n)^n. For instance, if you are depositing INR 1,50,000 every year for 15 years in the sukanya samriddhi yojana, this Account offers an interest rate of 7.6% of annum. The maturity amount after 21 years would be 65 93,000.

Benefits Of Sukanya Samriddhi Yojana Calculator

The sukanya samriddhi yojana calculator will show you the interest you earned and the maturity amount on the sukanya samriddhi yojana Account.

The sukanya samriddhi yojana Account is one of the best investments you can invest in to save tax, and the best part is that you can also earn the best return. The sukanya samridddhi yojana calculator shows how the sukanya samriddhi yojana Account will help you achieve all your financial objectives, such as for your daughter’s marriage or higher education.

You can use the sukanya samriddhi yojana calculator to understand the amount you should invest in the girl’s education or future goals.

The best part here is that you can use this calculator from anywhere in the world, and it is also easy to use.

Eligibility Sukanya Samriddhi Yojana?

If you want to take benefit of the sukanya samriddhi yojana calculator, then you have to check if you are eligible or not for the scheme. The sukanya samriddhi Account can be opened by the parents, the legal guardians of the girl child, only if she’s an Indian resident and the girl is less than ten years of edge. Only two accounts can be opened in a family having two girl children.

Once they open the Account, the legal guardian also needs to submit documents like the duly filled scheme opening form that covers all the basic details of the Account holder, that is, the girl child for whom you are opening the Account. The birth certificate of the girl child also should be submitted. The identification documents of the depositor and valid proof of address must be submitted if there are multiple kids under a single birth order. A medical certificate should also be submitted.

what is the maturity period of sukanya samriddhi account?

  • After 21 years from the date of creation, the account matures. A maturity withdrawal can include both the maturity amount and interest accrued.
  • If the girl, for whom the account was opened, gets married before the maturity period ends, she can withdraw the balance amount, so long as she is 18 years old. At the time of withdrawal, the girl must provide an affidavit stating she is 18 years old.
  • The account cannot be operated if the girl reaches the age of 18 and gets married before the 14-year term is over. Even if the mandated deposit has not been made earlier, further deposits cannot be made.
  • Only the girl child is authorized to withdraw the maturity amount. For the withdrawal, the passbook and Sukanya Samriddhi Yojana withdrawal slip must be submitted.
  • If the girl gets married after attaining majority and withdraws 50% of the amount for the purpose of marriage, she may choose not to close the account. In spite of the fact that further deposits are not permitted, the balance amount will continue to earn interest until the 21-year term is completed.

SSY Maturity Value Calculation after 21 Years

Due to the many variables involved in this scheme, it is difficult to make an accurate calculation of maturity value. By keeping the variable constant and only varying the monthly and yearly contributions, it is possible to calculate the maturity value in a table.

Following are some assumptions made for the following calculation:

  • Throughout the 21-year term of the scheme, interest is assumed to be 7.6%.
  • Every month, contributions are due on the 1st.
  • A yearly contribution must be made on April 1st.
  • The fixed amount for the monthly or yearly contribution has been consumed.
  • In addition, no withdrawals have been reported during these 21 years.


Hence when you use this calculator, there is no limit to the number of times that the calculator can be used. The calculations are based on the sukanya samriddhi yojana interest rates, which are prevailing. The sukanya samriddhi yojana calculator is up to date, and any change implemented affects the scheme’s calculation. It will be reflected automatically in the working of the sukanya samriddhi yojana calculator. The best is that the tool works perfectly on all the devices, so you don’t have to stress anything.

To know more about sukanya samriddhi yojana and reap the benefits of the same, you can reach out to Vakilsearch for the same. 

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