SSY Calculator
Calculate the maturity value of your Sukanya Samriddhi Yojana (SSY) investment.
SSY (Sukanya Samriddhi Yojana) Calculator
Max limit is ₹1,50,000 per financial year.
Account can be opened before age 10.
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Total Invested₹0
Total Interest Gained+₹0
Maturity Value₹0
How the SSY Calculator Works
The SSY calculator computes the maturity amount of your investment after 21 years based on the yearly deposit you make for the first 15 years. It factors in compound interest credited annually at the current prevailing rate.
The current interest rate is reviewed quarterly by the Government of India, but this calculator assumes a constant rate (defaulted to 8.2% per annum) for estimation purposes.
Key Features of SSY:
- Investment Period: 15 years.
- Maturity Period: 21 years from the date of account opening.
- Tax Benefits: Fully tax-free maturity amount.
Frequently Asked Questions
What is the Sukanya Samriddhi Yojana (SSY)?
Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme in India targeted at the parents of girl children. The scheme encourages parents to build a fund for the future education and marriage expenses for their female child.
How long do I have to deposit money in an SSY account?
Deposits need to be made for the first 15 years from the date of opening the account. After 15 years, you don't need to make deposits, but the account continues to earn interest until maturity at 21 years.
What is the minimum and maximum deposit amount?
The minimum deposit required is ₹250 per financial year, and the maximum deposit allowed is ₹1,50,000 per financial year under Section 80C.
Is the maturity amount tax-free?
Yes, SSY falls under the EEE (Exempt, Exempt, Exempt) tax category. The investment amount, the interest earned, and the maturity amount are completely tax-free.