Sukanya Samriddhi Yojana Calculator: Estimate the maturity value, total investment and interest earned on an SSY account. Enter the annual contribution, interest rate and contribution period to calculate an illustrative 21-year maturity value. Government-notified SSY interest rates can change, so update the rate field when required.
How to Use the Sukanya Samriddhi Yojana Calculator
- Enter your annual SSY deposit amount.
- Enter the applicable annual interest rate.
- Select the contribution period, up to 15 years.
- Click Calculate to see estimated investment, interest and maturity value.
This calculator provides an illustrative estimate only. SSY interest rates are notified by the Government and may change over time. Actual interest can also depend on deposit dates and applicable scheme rules.
What is the Sukanya Samriddhi Yojana account?
Sukanya Samriddhi Yojana or SSY account is a small deposit scheme for a girl child launched by Government of India in the year of 2015. India Post currently shows an SSY interest rate of 8.2% p.a.; the rate is revised periodically, so always check the latest notified rate before relying on an estimate. The SSY account can be opened anytime after the birth of the girl child until she turns 10 years old. You may open the SSY account at the post office or any branch of a commercial bank. The account can be opened with a minimum initial deposit of just Rs 250. The maximum amount you can deposit is Rs 1.5 lakh per financial year. After maturity of the SSY account, money can be used for higher education or the marriage expenses of a girl child.
The SSY account is operative for 21 years from the account’s opening date, or until the girl child’s marriage after 18. You could make partial withdrawals up to 50% of the balance amount for higher education expenses of the girl child after she turns 18 or pass 10th standard. The maturity period of the scheme is 21 years; you can deposit into SSY account for 15 years, and the remaining six years will be a lock-in period. You can not deposit during the lock-in period, but the balanced amount in your SSY account will attract annual interest in this period.
What is the Sukanya Samriddhi Yojana Calculator?
The SSY Calculator is an online planning tool that estimates total investment, interest earned and maturity value for a Sukanya Samriddhi account. Enter the deposit amount, applicable interest rate and contribution period to see an illustrative maturity estimate. For monthly planning, convert your monthly saving into an annual contribution using the examples above.
SSY Monthly Deposit Examples
This calculator uses an annual investment amount. If you prefer to plan by monthly savings, first convert the monthly deposit into an annual amount and enter that figure in the calculator.
| Monthly Deposit | Annual Amount to Enter |
|---|---|
| ₹500 per month | ₹6,000 per year |
| ₹1,000 per month | ₹12,000 per year |
| ₹2,000 per month | ₹24,000 per year |
| ₹5,000 per month | ₹60,000 per year |
| ₹10,000 per month | ₹1,20,000 per year |
Monthly deposits are not compulsory under the scheme. The account can receive eligible deposits during the financial year subject to the applicable annual limits.
Post Office Sukanya Samriddhi Calculator
The same calculator can be used when planning a Post Office Sukanya Samriddhi Account. India Post states that an SSY account can be opened for an eligible girl child, deposits can continue for up to 15 years from opening, and the account normally matures 21 years from the opening date. The notified interest rate can change, so use the current rate in the calculator rather than relying permanently on the default value.
SSY Age, Deposit Period and Maturity
- An SSY account is generally opened for a girl child who has not attained 10 years of age.
- Deposits may be made for up to 15 years from the account-opening date.
- The account normally matures after 21 years from the date of opening.
- Use this calculator for planning only; actual interest depends on official rates and deposit timing.
How the SSY Calculator Estimates Maturity Value
Because SSY involves recurring deposits, a single lump-sum compound-interest formula does not fully describe every contribution. This calculator adds each eligible annual contribution, applies the assumed annual interest rate, and then allows the accumulated balance to continue earning interest through the selected 21-year maturity period. The result is an illustrative estimate; actual credited interest depends on official rates and deposit dates.
A = P(1+r/n)^nt
where,
- P = Initial Deposit
- r = Rate of interest
- n = Number of years the interest compounds
- t = Number of years
- A = Amount at maturity
