SSY Calculator

Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme designed to secure the financial future of a girl child. It offers attractive interest rates, tax benefits under Section 80C, and ensures long-term growth for education, marriage, or other future needs.

An SSY account can be opened by the parent or legal guardian of a girl child below the age of 10. Only one account is allowed per girl child, and a maximum of two accounts can be opened per family (three in case of twins).

Our SSY Calculator uses the official formula approved by the Government of India to estimate the maturity amount based on your annual deposit, interest rate, and duration. Simply input your details, click “Calculate,” and get instant results along with a detailed breakdown.

Yes, our SSY Calculator is highly accurate. It incorporates the latest RBI-approved interest rates and follows the official SSY formula. However, please note that actual returns may vary slightly due to changes in interest rates or other factors.

As of 2024, the interest rate for Sukanya Samriddhi Yojana is 8.2% per annum. This rate is subject to change quarterly based on RBI announcements. Our calculator allows you to adjust the interest rate to simulate different scenarios.

Yes, partial withdrawals are allowed starting from the 7th year (after completing 6 years) for the girl child’s education or marriage expenses. Full withdrawal is permitted after the account matures at the end of 21 years.

Yes, SSY deposits qualify for tax deductions under Section 80C of the Income Tax Act. Additionally, the interest earned and the maturity amount are completely tax-free under Section 10(10D).

If you miss a deposit, the account will not be closed but will be considered inactive until the minimum annual deposit of ₹500 is made. To reactivate the account, you’ll need to pay a penalty fee along with the missed deposit amount.

While grandparents cannot directly open an SSY account, they can contribute to an existing account opened by the parents or guardians. Our SSY Calculator allows you to test different deposit amounts to see how contributions impact the maturity value.

Absolutely! All calculations happen locally in your browser, and no personal data is stored or shared. You can use our calculator with complete peace of mind, knowing that your privacy is protected.

Yes, you can run unlimited calculations with our SSY Calculator. Test different deposit amounts, frequencies, durations, and interest rates to find the best investment strategy for your financial goals.

After clicking “Calculate,” our tool provides a detailed year-by-year breakdown showing deposits, interest earned, and year-end balances. This helps you understand how your investment grows over time.

SSY offers several advantages, including high interest rates, tax benefits, and guaranteed returns. Unlike market-linked investments, SSY provides stability and long-term growth, making it an ideal choice for securing your daughter’s future.

Premature closure is allowed only under exceptional circumstances, such as the death of the account holder or terminal illness. Otherwise, the account must remain active until maturity (21 years).

The SSY interest rate is reviewed and updated quarterly by the Reserve Bank of India (RBI). Our calculator allows you to input the latest rate to ensure accurate projections.