Sukanya Samriddhi Yojana Calculator
Plan Your Daughter's Future with SSY Investment
Basic Details
Investment Details
SSY Projection
What is Sukanya Samriddhi Yojana?
The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme in India, designed to secure the future of girl children. Managed by the Government of India, it encourages parents to invest in their daughter's education and marriage expenses. The scheme offers attractive interest rates and tax benefits under Section 80C.
Key Features
SSY offers guaranteed returns with tax benefits under Section 80C. The current interest rate is 8.2% (FY 2023-24). The account matures after 21 years from the date of opening or upon the girl's marriage after she turns 18, whichever is earlier. Partial withdrawals are allowed for higher education expenses after the girl turns 18.
Contribution Breakdown
Minimum annual deposit: ₹250
Maximum annual deposit: ₹1.5 lakh
The account can be opened in the name of a girl child below 10 years of age.
How to maximize SSY?
Optimize your SSY savings by:
- Starting the account as early as possible
- Making maximum annual contributions
- Ensuring continuous contributions
- Regularly checking the account balance
Tax Implications
- Contributions qualify for 80C deduction
- Interest earned is tax-free
- Maturity amount is tax-free
- Premature withdrawals taxed as per income slab
Using the Sukanya Samriddhi Yojana Calculator
Input the girl's current age, annual contribution, and expected interest rate. The calculator projects the maturity value, shows contribution breakdowns, and helps plan future contributions. Use it to ensure your SSY corpus aligns with your daughter's future goals.
Planning Your Daughter's Future
SSY is specifically designed for long-term savings for a girl child's education and marriage. With an 8.2% interest rate and EEE tax status, it offers among the highest risk-free returns in India. Deposits are required for the first 15 years, after which the account continues to earn interest until maturity at age 21.
Frequently Asked Questions
What is Sukanya Samriddhi Yojana?
Sukanya Samriddhi Yojana (SSY) is a government savings scheme for the girl child. It offers one of the highest interest rates among small savings schemes (currently 8.2%), enjoys EEE tax status, and matures when the girl turns 21.
Who can open an SSY account?
Parents or legal guardians can open an SSY account for a girl child before she turns 10. Maximum two accounts (one per girl child) per family. The minimum annual deposit is Rs 250 and maximum is Rs 1.5 lakh.
