Calculate Maturity Amount
Results:
Total Deposit (15 years): ₹
Estimated Maturity Amount (after 21 years): ₹
About Sukanya Samriddhi Yojana
The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme launched under the 'Beti Bachao, Beti Padhao' initiative. It encourages parents to build a fund for their daughter’s future education and marriage expenses by offering one of the highest interest rates among small saving schemes.
How Does the SSY Calculator Work?
This SSY Calculator helps you estimate the maturity amount you will receive at the end of the 21-year tenure, assuming consistent yearly deposits. The interest is compounded annually, and deposits can be made up to 15 years from the account opening date.
Key Features of SSY Scheme
- Account can be opened for a girl child below 10 years of age.
- Minimum deposit: ₹250/year; Maximum deposit: ₹1.5 lakh/year.
- Tenure: 21 years from account opening; contributions allowed for 15 years.
- Attractive interest rate (currently 8.2% per annum).
- Tax benefits under Section 80C of the Income Tax Act.
Benefits of Using an SSY Calculator
- Instant estimation of total deposit and maturity value.
- Helps plan long-term investments for your daughter's future.
- Free and user-friendly online tool accessible anytime.
Frequently Asked Questions (FAQs)
Can I withdraw money from SSY before maturity?
Yes, partial withdrawal of up to 50% is allowed after the girl child turns 18, for higher education or marriage purposes.
What happens if I miss a deposit year?
The account will be considered defaulted. You can reactivate it by paying a ₹50 penalty along with the minimum annual deposit.
Is the maturity amount from SSY taxable?
No, both the interest earned and maturity amount are tax-free under the EEE (Exempt-Exempt-Exempt) status.