Sukanya Samriddhi Yojana (SSY) Calculator
Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme for the girl child. It is a part of the "Beti Bachao, Beti Padhao" campaign and offers a high interest rate and tax benefits. Our SSY Calculator helps you estimate the maturity value of your investment in the scheme. By providing the yearly investment and the age of the girl child, you can get a clear picture of the future savings for your daughter's education and marriage. This tool is essential for anyone looking to invest in SSY and secure their daughter's future.
For more information, visit the official India Post page for Sukanya Samriddhi Yojana.
Results
Maturity Year: 2046
Total Investment: ₹2,250,000.00
Total Interest: ₹4,932,119.17
Maturity Value: ₹7,182,119.17
What is Sukanya Samriddhi Yojana (SSY)?
Sukanya Samriddhi Yojana (SSY) is a special savings scheme launched by the Government of India exclusively for a girl child. The scheme is designed to encourage parents to build a fund for their daughter's future education and marriage expenses. It offers a high interest rate, which is compounded annually, and provides significant tax benefits, making it an attractive long-term investment option.
Key Features of SSY
- High Interest Rate: The interest rate for SSY is set by the government and is typically higher than other small savings schemes.
- Tax Benefits: SSY comes with an Exempt-Exempt-Exempt (EEE) status. The investment, interest earned, and maturity amount are all exempt from tax.
- Long-Term Investment: The scheme matures after 21 years from the date of account opening or at the time of the girl's marriage after she turns 18.
- Flexible Investment: You can start an SSY account with a minimum deposit of ₹250 and a maximum of ₹1.5 lakh in a financial year.
How to Use the SSY Calculator
- Enter the Yearly Investment: Input the amount you plan to invest in the SSY account each year.
- Provide the Age of the Girl Child: Enter the current age of your daughter. The account can be opened for a girl child below the age of 10.
- Click "Calculate" to see the projected maturity value of your investment.
Interpreting the Results
- Maturity Year: This is the year when the SSY account will mature.
- Total Investment: The total amount you have invested in the scheme over the entire contribution period (15 years).
- Total Interest: The total interest earned on your investment over the full tenure of the scheme.
- Maturity Value: This is the total amount you will receive at the time of maturity, which includes your total investment and the accumulated interest.