Sukanya Samriddhi Yojana Calculator
Calculate maturity value, returns and tax benefits of investing in Sukanya Samriddhi Yojana for girl children
About Sukanya Samriddhi Yojana (SSY)
Sukanya Samriddhi Yojana is a government-backed small savings scheme specifically designed for girl children in India. Key features include:
- Account can be opened for girls up to 10 years of age
- Deposits can be made for 15 years; account matures when girl turns 21
- Current interest rate: 8.2% per annum (October 2023), revised quarterly
- Minimum deposit: ₹250 per year; Maximum deposit: ₹1.5 lakh per year
- Tax benefits under Section 80C of Income Tax Act
- Partial withdrawal allowed for higher education or marriage after girl turns 18
Sukanya Samriddhi Calculation Results
Maturity Value
₹ 0
When your daughter turns 21 in 2039
| Total Investment | ₹ 0 |
|---|---|
| Total Interest Earned | ₹ 0 |
| Investment Period | 15 years |
| Annual Tax Benefit (Sec 80C) | ₹ 0 |
| Total Tax Savings | ₹ 0 |
| Effective Annual Return | 0% |
Wealth Multiplication
Your investment will grow 2.5x over the maturity period
Year-wise Growth
After maturity (when your daughter turns 21), the entire amount including interest is tax-free.
Year-wise Breakdown
| Year | Girl's Age | Deposit Amount (₹) | Interest Rate (%) | Interest Earned (₹) | Account Balance (₹) |
|---|
Partial Withdrawal Options
After your daughter turns 18, you can withdraw:
- Up to 50% of the balance at the end of the previous financial year for higher education
- This can be withdrawn as a single payment or in installments, not exceeding one per year
- The approximate available amount at age 18 would be: ₹ 0
Important Information
- Account can be opened in any post office or authorized banks
- Only one account per girl child is allowed (maximum two accounts for two girl children)
- Account can be transferred anywhere in India
- Minimum deposit must be made each year to keep account active
- Penalty of ₹50 for missed yearly deposits
- Deposits qualify for deduction under Section 80C
Sukanya Samriddhi Guide & Tutorial
Understanding Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana (SSY) is a government-backed small savings scheme designed to secure the financial future of girl children in India. It offers attractive interest rates and tax benefits while ensuring long-term savings for education and marriage expenses.
Key Benefits
- Government guaranteed returns
- Tax benefits under Section 80C
- Tax-free maturity amount
- Partial withdrawal facility
Important Points
- Age limit for account opening
- Minimum annual deposit
- Lock-in period
- Interest rate revisions
Key Features of SSY
| Feature | Description | Details |
|---|---|---|
| Account Opening | Age limit for girl child | Birth to 10 years |
| Investment Limit | Annual deposit range | ₹250 to ₹1.5 Lakhs |
| Interest Rate | Current rate (Oct 2023) | 8.2% p.a. (quarterly revised) |
| Maturity Period | Account maturity | 21 years from opening |
Account Operations
Account Opening & Deposits
- Required Documents:
- Birth certificate of girl child
- Identity proof of guardian
- Address proof
- Photographs
- Deposit Rules:
- Minimum ₹250 per year
- Maximum ₹1.5 lakhs per year
- Deposits in multiples of ₹100
- Penalty for missed deposits
Withdrawals & Closure
- Partial Withdrawal:
- Up to 50% at age 18
- For higher education
- One withdrawal per year
- Documentation required
- Account Closure:
- At age 21
- Early marriage exception
- Tax-free withdrawal
- Transfer between post offices
How to Use the Calculator
1
Enter Basic Details
Input girl's current age and applicable interest rate.
2
Specify Investment Amount
Enter annual investment amount (₹250 to ₹1.5 lakhs).
3
Choose Investment Frequency
Select yearly, half-yearly, quarterly, or monthly deposits.
4
Review Results
Check maturity amount, interest earned, and year-wise breakdown.
Frequently Asked Questions
Account opening criteria:
- Eligibility:
- Parents/legal guardians
- Girl child below 10 years
- Only for Indian residents
- Restrictions:
- Maximum two accounts per family
- One account per girl child
- Natural/legal guardian only
Tax advantages of SSY:
- Investment Phase:
- Section 80C deduction
- Up to ₹1.5 lakhs per year
- For both parents
- Returns Phase:
- Tax-free interest
- Tax-free maturity amount
- EEE status scheme
Interest calculation details:
- Calculation Method:
- Annually compounded
- Rate revised quarterly
- Minimum balance basis
- Important Points:
- Interest on monthly balance
- Calculated till maturity
- Government guaranteed rate
Withdrawal rules:
- Partial Withdrawal:
- After girl turns 18
- Up to 50% of previous year balance
- For higher education only
- Premature Closure:
- Marriage exception
- Proof required
- Interest implications
Maturity process:
- Account Closure:
- At age 21
- Full amount withdrawal
- Tax-free proceeds
- Documentation:
- Identity verification
- Account holder's presence
- Bank account details
Sukanya Samriddhi vs Other Investment Options
| Feature | Sukanya Samriddhi Yojana | PPF | Bank FD | Mutual Funds (Equity) |
|---|---|---|---|---|
| Current Rate/Expected Returns | 8.2% p.a. | 7.1% p.a. | 5-7% p.a. | 10-12% p.a. (Long term) |
| Risk Level | Very Low (Govt. Backed) | Very Low (Govt. Backed) | Low | Moderate to High |
| Lock-in Period | Until girl turns 21 (Partial withdrawal at 18) | 15 years (Partial withdrawal allowed) | Flexible (1-10 years) | None (3+ years recommended) |
| Tax Benefits | Investment: Sec 80C Interest: Tax-free Maturity: Tax-free |
Investment: Sec 80C Interest: Tax-free Maturity: Tax-free |
Investment: No Interest: Taxable Maturity: Taxable |
Investment: ELSS under 80C Gains > 1yr: 10% above ₹1L Gains < 1yr: As per slab |
| Liquidity | Low (Partial withdrawal at 18) | Medium (Partial withdrawal after 7 years) | Medium (Premature withdrawal with penalty) | High (Anytime redemption) |
Why Choose Sukanya Samriddhi Yojana?
- One of the highest interest rates among government schemes
- Triple tax benefit: EEE (Exempt-Exempt-Exempt) status
- Government backed security with guaranteed returns
- Dedicated savings for girl child's education and marriage
- Disciplined long-term saving with compound growth benefits