Sukanya Samriddhi Yojana Calculator

Helps you calculate the total amount invested, returns, maturity value and maturity date.

Sukanya Samriddhi Yojna is a post office savings scheme of the government to encourage Indians to save money for the future of their girl children. This scheme is backed by the sovereign guarantee.

  • Investment : Minimum Rs.250 to maximum Rs,150,000 should be deposited every year for 14 years from the date of opening.
  • Interest Rate : Declared by the government every quarter. Current interest rate is 8.40% per annum compounded annually.
  • Tax Benefit : Investment provides tax deduction u/s 80 C upto Rs.1,50,0000. Interest and Maturity amount is also tax exempt.Thus, enjoys exempt-exempt-exempt (EEE) tax status.
A minimum of Rs.250 and a maximum of Rs.1,50,000 should be deposited every year
  • Current Interest
  • Total Investment of
    Principal Amount
  • Total Interest
  • Maturity
  • Maturity
    30 April 2033
Account Age Her Age Date of Deposit Yearly Deposit Amount Yearly Interest Amount Total Maturity Amount
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FAQs on Sukanya Samriddhi Yojana Calculator

Q Who can use Sukanya Samriddhi Calculator?

All the persons who are planning to invest in Sukanya Samridhi Yojna(SSY), can use this calculator before taking the investment decision.This will help you in -

  • Calculation of the returns on the amount invested every year.
  • Total amount that you will receive at the time of maturity.
  • Date of Maturity (Approx).

Please note that you can invest in SSY only when you meet the eligibility criteria i.e the age of girl child is not more than 10 years and the girl is a resident of India.

Q How does the Sukanya Samridhi Yojna Calculator work?

The calculator arrives at the maturity value and the total interest during the invested period, as per the SSY rules. However, while calculating the maturity value, it works on the following assumptions :

  • Individuals contribute the same amount every year till the completion of a period of fifteen years from the date of opening of the account years.
  • There is no contribution made from year 16 to 21(as not mandated, though individuals are free to invest as per their wish). Interest is calculated on the basis of the previous contributions
  • Interest amount is calculated on the basis of the current interest rate for the invested period.

Q What documents are required for opening Sukanya Samriddhi Account?

  • Birth Certificate of the child
  • Address & Identity proof of the parents/guardian
  • Other KYC proofs such as PAN, Voter id.

Q How many accounts can be opened under Sukanya Samriddhi Account Yojana (SSY)?

Under the SSY (Sukanya Samriddhi Yojana) you can open a maximum of two accounts at a time. But, in some special cases this number can exceed. These circumstances include

  • Birth of twin sisters, when the first birth already gave life to a girl child.
  • Birth of triplets i.e. three children at one time all being girl children.

Even, in the above cases the opening of Sukanya Samriddhi Account is permitted only upon furnishing a valid medical certificate supporting the facts.The account can be applied by their parents or legal guardians.

Q Can a holder of PPF account also open Sukanya Samriddhi (SSY) Account?

Yes it is possible. Many people having PPF account find Sukanya Samriddhi Account a great choice due to:

  • Higher Interest Rates and Returns.
  • Overall increased investment limits.
  • Lower mandatory deposit requirements. In SSY you need to deposit a minimum of Rs 250 unlike the limit of Rs 500 for PPF.

Q How many SSY Accounts can be opened in one name?

Only one SSY account can be opened in one name. With, the maximum of two accounts for two girl children by parents or legal guardians.

Q From where can I open an SSY Account?

You can open SSY Account from any nearby post office or bank.

Q Is it possible to close SSY Account?

No, the SSY account cannot be permanently closed. You can stop making the contributions and take the deposited amount after completion of 21 years or when the girl child turns 18 for her marriage or higher education.

Q Is a loan facility available against SSY Account?

No, the loan facilities are not available against SSY Account.

Q How can tax savings maximised from SSY Account?

For Sukanya Samriddhi Yojana Account tax benefits are given on the basis of nomination. In the case of two girl children both mother and father can seek separate nominations and take benefit of Rs 1.5 lakh under section 80C each.

Q What will happen to SSY funds in case of the untimely demise of the account holder?

In such a situation the account will be closed immediately and funds would be handed over to the nominee.

Q Can I reactivate the Sukanya Samriddhi Yojana Account?

In case you skip to make the minimum contribution of Rs 250 in any of the year then your account is deactivated. To reactivate the account a fee of Rs 50 would be charged for each year of default.

Q Can SSY Account premature?

Premature closure of SSY account is allowed

  • It can be closed prematurely. This can only happen when your daughter completes 18 years of age and provided she gets married
  • In case of account holder’s death.
  • In case funds are required for treating the life-threatening disease of the account holder.