Sukanya Samriddhi Yojana Calculator

Calculate maturity amount, total interest, and total deposits for your SSY account.

Easily estimate the maturity value, total interest earned, and total amount deposited in your Sukanya Samriddhi Yojana (SSY) account. Enter your yearly deposit, number of years you plan to invest (up to 15), and the current interest rate to see your savings grow.

Examples

Click on any example to load it into the calculator.

Standard SSY Plan

Standard SSY Plan

Invest ₹50,000 per year for 15 years at 8.2% interest.

Yearly Deposit: 50000 INR

Years of Deposit: 15

Interest Rate: 8.2%

Minimum Deposit Plan

Minimum Deposit Plan

Invest the minimum ₹250 per year for 15 years at 8.2% interest.

Yearly Deposit: 250 INR

Years of Deposit: 15

Interest Rate: 8.2%

Short-Term Investment

Short-Term Investment

Invest ₹1,00,000 per year for 10 years at 8.2% interest.

Yearly Deposit: 100000 INR

Years of Deposit: 10

Interest Rate: 8.2%

Custom Interest Rate

Custom Interest Rate

Invest ₹75,000 per year for 12 years at 9% interest.

Yearly Deposit: 75000 INR

Years of Deposit: 12

Interest Rate: 9%

Other Titles
Understanding Sukanya Samriddhi Yojana Calculator: A Comprehensive Guide
Master the art of planning for your daughter's future with the SSY calculator. Learn how to maximize returns, understand scheme rules, and avoid common mistakes.

What is the Sukanya Samriddhi Yojana Calculator?

  • Scheme Overview
  • Key Benefits
  • Who Should Use It
The Sukanya Samriddhi Yojana (SSY) Calculator is a specialized financial tool designed to help parents and guardians estimate the maturity value, total interest earned, and total deposits for the government-backed SSY savings scheme. By inputting your planned yearly deposit, number of years you intend to invest, and the prevailing interest rate, you can instantly see how your savings will grow over time. This calculator simplifies complex compound interest calculations and provides a clear projection of your daughter's financial future.
Key Benefits of Using the SSY Calculator
  • Accurate maturity and interest projections
  • Easy comparison of different deposit plans
  • Helps in financial planning for education and marriage
  • Saves time and reduces manual calculation errors
Who Should Use the SSY Calculator?
  • Parents planning for their daughter's future
  • Financial advisors and planners
  • Anyone interested in government-backed savings schemes

Key Features:

  • Instant maturity and interest calculation
  • Customizable deposit and interest rate
  • Yearly breakdown for better planning

Step-by-Step Guide to Using the SSY Calculator

  • Input Details
  • Calculation Process
  • Result Interpretation
To get the most accurate results from the SSY Calculator, follow these steps carefully.
1. Enter Your Yearly Deposit Amount
Input the amount you plan to deposit each year. Remember, the minimum is ₹250 and the maximum is ₹1,50,000 per year.
2. Specify the Number of Years for Deposit
Choose how many years you will make deposits (1-15 years). After 15 years, no further deposits are allowed, but interest continues to accrue until maturity at 21 years.
3. Set the Interest Rate
Enter the current SSY interest rate. The default is 8.2%, but you can adjust this if the rate changes in the future.
4. Review the Results
The calculator will display the total amount deposited, maturity amount, and total interest earned. Use these results to plan for your daughter's education, marriage, or other future needs.

Sample Calculation Steps:

  • Deposit ₹50,000/year for 15 years at 8.2%: Maturity ≈ ₹15,21,000+
  • Deposit ₹1,00,000/year for 10 years at 8.2%: Maturity ≈ ₹15,90,000+

Real-World Applications of the SSY Calculator

  • Education Planning
  • Marriage Planning
  • Tax Planning
The SSY Calculator is not just a theoretical tool; it has practical applications in real-life financial planning.
Education Planning
Use the calculator to estimate how much you will have saved by the time your daughter is ready for higher education. Adjust your yearly deposit to meet your target amount.
Marriage Planning
Plan for your daughter's marriage expenses by projecting the maturity amount. The SSY scheme ensures a lump sum is available when needed most.
Tax Planning
SSY deposits are eligible for tax benefits under Section 80C of the Income Tax Act. Use the calculator to optimize your tax-saving investments.

Practical Use Cases:

  • Plan for ₹10 lakh+ for higher education
  • Save for marriage expenses with guaranteed returns

Common Misconceptions and Correct Methods

  • Interest Calculation Myths
  • Deposit Flexibility
  • Premature Withdrawal Rules
There are several misconceptions about the SSY scheme. This section clarifies the most common ones and explains the correct methods.
Myth: Interest is Simple, Not Compounded
Fact: SSY interest is compounded annually, not simple. The calculator uses compound interest for accurate results.
Myth: You Must Deposit Every Year
Fact: You can skip deposits in some years, but the account will be deactivated if the minimum is not met. The calculator assumes regular yearly deposits for simplicity.
Myth: Premature Withdrawal is Not Allowed
Fact: Partial withdrawal is allowed after the girl turns 18, up to 50% of the balance for education or marriage. The calculator does not account for withdrawals.

Misconceptions Clarified:

  • Interest is compounded, not simple
  • Deposits can be skipped, but minimum must be met
  • Partial withdrawal allowed after age 18

Mathematical Derivation and Examples

  • Compound Interest Formula
  • Yearly Breakdown
  • Sample Calculations
The SSY Calculator uses the annual compound interest formula to project the maturity amount. Deposits are made for up to 15 years, but interest continues to accrue for the full 21-year maturity period.
Compound Interest Formula Used

A = P × [((1 + r)^n - 1) / r] × (1 + r), where: A = Maturity Amount P = Yearly Deposit r = Annual Interest Rate (decimal) n = Number of Years Deposited (max 15) Interest continues to accrue for 21 years, even after deposits stop.

Yearly Breakdown Table
The calculator can provide a year-by-year breakdown of balance, interest earned, and deposits made. This helps users visualize the growth of their investment over time.
Sample Calculation
If you deposit ₹50,000 per year for 15 years at 8.2% interest, your maturity amount will be approximately ₹15,21,000+. Total interest earned will be over ₹7,71,000.

Mathematical Examples:

  • Deposit ₹50,000/year for 15 years at 8.2%: Maturity ≈ ₹15,21,000+
  • Deposit ₹1,00,000/year for 10 years at 8.2%: Maturity ≈ ₹15,90,000+