Sukanya Samriddhi Yojana Calculator

Sukanya Samriddhi Yojana Calculator is a free online tool that users can use to determine the interest earned and the amount due at maturity from investments made into the Sukanya Samriddhi Yojana (SSY) account. The key output fields of this calculator are the account balance at maturity, the total interest earned from the investment as well as the amount that one can withdraw for higher education of the girl child when she attains the age of 21 years.

Since the SSY scheme offers fixed returns and the maximum age of the girl child at the time of entry is fixed at 10 years, the SSY Calculator considers these details along with the annual investment amount to provide its output. The Sukanya Samriddhi Yojana calculator is free to use and can help prospective investors make informed financial decisions.

As per current rules of the Sukanya Samriddhi Yojana, the account matures and the accrued corpus is paid out when the girl child attains the age of 21 years. A minimum annual contribution of Rs. 250 is required to keep the account active while a maximum annual investment of Rs. 1.5 lakh is allowed into the account. The maximum period of contribution that is allowed is 15 years These are some of the key factors that the calculator considers when making the calculation.

Below are the inputs that the user needs to provide:

- Annual investment amount

- Age of girl child at the time of account opening

- The year in which the account was opened

The interest rate of Sukanya Samriddhi Yojana is fixed (8.2% p.a. as on Q2 FY'26) and is automatically applied by the calculator to provide the results.

The above inputs are then used by the calculator based on the formula

A = P (1 + r/n) ^ nt

Where,

A = Corpus value at maturity

P = Annual investment made into the scheme

r = Rate of interest in SSY account

n = Number of times the principal is compounded annually. SSY account works on annual compounding so this value is “1” by default

t = Number of years for which the account is active

Value of “t” in the above formula is based on the age of girl child at the time of entry and automatically populated by the SSY calculator. So, if the age of the girl child is 6 years at the age of entry, the number of years for which the account will be active is 15 years (21 years – 6 years). This is because, the SSY account mandatorily matures and is closed when the girl child attains the age of 21 years.

Once the required details have been input into the calculator, the results are available instantly. These include:

1. The total investment made into the SSY account till maturity.

2. The amount that can be withdrawn for the purpose of higher education or marriage when the girl child attains the age of 18 years. This is typically up to 50% of the account balance at the end of the previous year.

3. The estimated returns the investor would earn when the account matures.

4. The corpus created in the SSY account at maturity.

The above output provided by the SSY Calculator are estimates based on the inputs provided by the user, however they can definitely help the user make an informed decision about how much to invest and how long one should invest in the SSY scheme?

Mr. Singh has a 5-year-old daughter. He wishes to open a Sukanya Samriddhi Yojana (SSY) account for his daughter and deposit ₹1,00,000 annually. The current SSY interest rate of interest is 8.2% per annum. He decised to deposit the same amount for 15 years. The account will mature after 21 years from the opening date. Let us see how the maturity amount will be calculated:

Step-by-Step Calculation

• Annual Deposit in Account: ₹1,00,000
• Duration of Deposit in Account: 15 years
• Interest Rate Applicable: 8.2% per annum (compounded yearly)
• Total Amount Deposited in Account: 15 × ₹1,00,000 = ₹15,00,000
• Estimated Interest Earned in Account: The approximate interest earned throughout this period, via annual compounding, is ₹32,88,079 (approx.)
• Maturity Value:
  
  Total Deposit + Interest
  
  = ₹15,00,000 + ₹32,88,079
  
  = ₹47,88,079 (approx.)

This maturity amount can be used either for the girl's higher education or marriage, according to SSY rules.

Any investor intending to invest in this scheme can benefit from using the Sukanya Samriddhi Yojana Calculator in the following ways:

1. It assists the investor in determining how much the beneficiary i.e. the girl child is entitled to receive at time of account maturity.

2. The investor can make an informed choice by determining if additional investments in other comparable investment options if they believe the maturity amount is insufficient for the girl child’s education or marriage expenses.

3. By assisting with complex calculations, the Sukanya Scheme Calculator reduces the possibility of calculation errors resulting from laborious and error-prone manual computations.

4. The SSY calculator also provides a reasonable estimate of the contributions that will be needed to reach a pre-determined financial goal.

5. The Sukanya Samriddhi Yojana calculator also acts as a power financial planning tool to help determine how SSY investments can fit into the overall financial plan of the girl child’s parents/guardian.

The deposits, ₹1,50,000 in a financial year, made in a Sukanya Samriddhi Yojana (SSY) Account are eligible for a tax deduction under Section 80C of the Income Tax Act, 1961. Only those who opt for the old tax regime can avail this deduction. Both the interest on the SSY account and maturity proceeds are fully exempt from tax, thus making it an EEE investment for eligible taxpayers.

Example:

In case you deposit ₹1,50,000 in one financial year in an SSY account and opt for the old tax regime, you can avail tax deduction on the entire ₹1,50,000 in that financial year under Section 80C.

Here's how you can use the Axis Max Life SSY calculator to estimate your yearly contributions and the expected maturity amount easily:

Step 1: Go to the Calculator Page

Open the Axis Max Life SSY calculator page.

Step 2: Input Your Details

You need to provide three main inputs:

• Annual Investment Amount — The amount you will deposit each year in the SSY account.
• Girl Child's Age — The age of the girl child at the commencement of the investment.
• Investment Start Year — The year you begin contributing.

The calculator uses a fixed interest rate. The current SSY interest rate of 8.2% per annum, as stated on the website. Let us calculate the projections.

How the Maths Works?

• It assumes annual compounding (interest is compounded annually).
• It uses the formula A = P × (1 + r/n)n⋅t
• A = corpus at maturity
• P = annual investment
• r = annual interest rate
• n = number of compounding periods in a year (for SSY, n = 1)
• t = number of years the account is active

Step 3: Get the Results

Once you enter the inputs, the Sukanya Samriddhi Yojana calculator instantly displays:

• Total investment to maturity
• Interest accrued during the period
• Maturity (corpus) amount at the end of the term
• Estimate for Partial Withdrawal: It also indicates how much you can withdraw when the girl turns 18, up to 50% of the total for education or marriage.

The results are available as a graph or a table.

Step 4: Use It for Planning

• This tool will help you estimate how much you need to deposit each year to reach a specific maturity amount.
• It also helps you compare SSY with other investment options by showing how much guaranteed return you can receive.
• Because the interest rate is fixed and compounding is essentially annual, the calculator provides reasonably accurate long-term projections.

Once mature, the girl child can withdraw the entire accumulated corpus after submitting the required documents, such as:

• The withdrawal application form
• Valid ID and address proof
• Citizenship documents

The maturity amount can be used for her higher education. In this regard, the sum needs to be solely utilised for admission-related costs and fee payments. Depositors must provide university admission documents and fee receipts to demonstrate that the funds were used for educational purposes.

Premature withdrawal is also permitted to cover marriage expenses, provided the girl has turned 18. In such cases, she must submit an affidavit stating that she is of legal age.

The Sukanya Samriddhi Yojana account matures after 21 years from the opening date. On maturity, the entire balance, along with accumulated interest, becomes payable to the account holder (girl child).

To close the account, the girl must submit:

• A withdrawal slip, and
• The original SSY passbook

If the girl gets married before the 21-year period completes, the account can be closed early, provided:

• She is at least 18 years old, and
• She submits an affidavit confirming she is 18 or above

If the account is not closed after maturity, it will continue to earn interest at the applicable SSY rate until the final withdrawal.

The Sukanya Samriddhi Yojana Calculator is a valuable tool for families looking to secure the financial future of their daughters. By providing accurate projections and fostering transparent financial planning, the calculator empowers parents and guardians to make informed investment decisions under the SSY scheme. Use this guide to leverage the benefits of the free online SSY Calculator and embark on a journey towards securing your daughter's future financial needs.

The Sukanya Samriddhi Yojana (SSY) is an initiative by the Indian government to provide financial empowerment to female children. Many parents choose this savings scheme as a long-term goal, like education or marriage for their daughter(s) as it offers risk-free guaranteed returns that offer tax benefits at the time of investment under the old tax regime and the returns at maturity are also tax-free.

While SSY is an excellent option to secure the financial future of your daughter, the key limitation is that it is targeted at only the girl child. One way to ensure the financial security of your child irrespective of their gender is the Axis Max Life Shiksha Plus Super Plan. This child plan is designed so that you can stay on track to save for your child’s higher education while also ensuring their future financial security in the event of your untimely demise. Additionally, with multiple fund options and investment strategies to choose from, this plan can be tailored to the savings needs of individuals with varying risk appetites.