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Sukanya Samriddhi Yojana

₹
Yr
Total investment₹ 3,75,000
Total interest₹ 8,22,020
Maturity value₹ 11,97,020
Invested amountReturns

Sukanya Samriddhi Yojana is a small deposit scheme backed by the Government of India for a girl child. The SSY account is opened anytime after the birth of the girl child until she turns 10 years old. The Koshex SSY Calculator will estimate the amount you will receive when the account matures, 21 years after it is opened.

You pay in for the first 15 years after opening the account. For the last six years you pay nothing and the balance keeps earning interest until the account matures at 21 years. For October to December 2026 the rate is 8.2% a year; it is reset every quarter, so the final amount depends on future rates.

How Does Our Sukanya Samriddhi Yojana Calculator Work?

Our calculator works on the below formula.

M = (P * [(((1 + i)^n) - 1) / i] * (1 + i)) * ((1 + i)^(21 - n))

Where,

M is the amount you receive upon maturity
P is the amount you pay in each year
i is the rate of interest
n is the number of years you pay in, which is 15, counted from the date the account is opened

Example:

Mr. Yuvan pays ₹50,000 into his daughter's Sukanya Samriddhi account at the start of every year for 15 years and makes no withdrawals. The account matures 21 years after it was opened. If the rate stays at 8.2% (the rate for October–December 2026) for all 21 years, he earns ₹16,44,040 in interest and receives ₹23,94,040 at maturity.

The calculation would look like below:

M = (50,000 * ((((1 + 8.2%) ^ 15) - 1) / 8.2%) * (1 + 8.2%)) * ((1 + 8.2%) ^ (21 - 15))
M = ₹23,94,040

Total Investment = ₹7,50,000
Interest Gained = ₹16,44,040

How Should You Use Koshex Sukanya Samriddhi Yojana Calculator?

Here is a step-by-step guide on how to use the Koshex Sukanya Samriddhi Yojana Calculator.
Step 1: Enter the amount you wish to invest in the scheme
Step 2: Enter the age of the girl child

The calculator will calculate the maturity amount and the amount you will earn as the interest.

Benefits Of Using Koshex Sukanya Samriddhi Yojana Calculator

Some of the advantages of Koshex's Sukanya Samriddhi Yojana calculator are as below:

  • The Sukanya Samriddhi Yojana calculator uses minimal effort
  • This calculator saves time, as you can calculate the maturity amount in a couple of seconds
  • The calculator is accurate, so you will get error-free results
  • You will be able to plan your finances better with our calculator

Sukanya Samriddhi Yojana Calculator - FAQs

What are the eligibility criteria for SSY?
The SSY scheme is applicable for girl children. One of the girl's guardians can open an SSY account in her name until she reaches the age of 10. The girl child must be an Indian resident. In a family, up to two SSY accounts can be opened for girls. More accounts are allowed only when twins or triplets are born, backed by an affidavit from the guardian and birth certificates.
What is the minimum amount required to open an SSY account?
You can open an account for as low as ₹250. You also have to invest a minimum of ₹250 to keep the account active.
What will happen to my SSY account if I do not make any deposits?
If you miss the ₹250 minimum in a year, the account goes into default. To revive it, pay the ₹250 minimum for each missed year plus a ₹50 penalty for each, at any time until 15 years from opening.
What is the maximum amount I can invest in my SSY account in a year?
The maximum amount you can deposit in your SSY account in a year is ₹1.5 lakh.
What is the maturity period of an SSY account?
An SSY account matures 21 years after it is opened. You pay in for the first 15 years only; for the last six years you pay nothing and the balance keeps earning interest until maturity.
Will I get any tax benefit from my Sukanya Samriddhi Yojana Account?
Yes. Deposits in a Sukanya Samriddhi account count towards the ₹1.5 lakh limit of section 123 (the old Section 80C) under the old regime, and what the account pays out, interest and maturity, is not taxed. The account runs for 21 years.
Can I withdraw from my SSY account prematurely?
Yes, for her education. Once the girl turns 18 or passes Class 10, whichever comes first, she can take out up to 50% of the balance as it stood at the end of the previous financial year. She can take it in one go or once a year for up to five years, and only as much as the fees actually due.
Can an SSY account be closed before maturity?
Yes. If the girl dies, the account is closed on application. On compassionate grounds, such as a life-threatening illness, the post office or bank that holds the account decides, and never before five years from opening.