FINANCIAL CALCULATORS
Sukanya Samriddhi Yojana (SSY) Calculator
Calculate your Sukanya Samriddhi Yojana maturity amount easily.
What is the Sukanya Samriddhi Yojana (SSY) Calculator & How does it work?
The Sukanya Samriddhi Yojana (SSY) is a savings scheme launched by the Government of India to encourage parents to save for their girl child’s higher education. The scheme offers a fixed interest rate and tax benefits.
To calculate the maturity amount, you need to consider the principal amount, the annual interest rate, and the tenure in years. The formula used is:
To calculate the maturity amount, you need to consider the principal amount, the annual interest rate, and the tenure in years. The formula used is:
A = P times (1 + frac{r}{100})^n
A = Maturity Amount
P = Principal Amount
r = Annual Interest Rate
n = Number of Years
P = Principal Amount
r = Annual Interest Rate
n = Number of Years
Parameters
Maturity Amount—
Frequently Asked Questions
How do I calculate the maturity amount for Sukanya Samriddhi Yojana?
Use the formula A = P × (1 + r/100)^n, where A is the maturity amount, P is the principal, r is the annual interest rate, and n is the number of years.
What are the tax benefits of Sukanya Samriddhi Yojana?
The interest earned on SSY is exempt from tax under Section 80C up to ₹1.5 lakh per year.
Can I withdraw money from Sukanya Samriddhi Yojana before maturity?
Partial withdrawals are allowed after three years for higher education expenses, but full withdrawal incurs a penalty.
What is the minimum and maximum amount I can invest in SSY?
The minimum investment is ₹250 per month, with no upper limit on the total amount you can invest.
How often can I contribute to Sukanya Samriddhi Yojana?
You can contribute monthly, quarterly, or annually as per your convenience.
What is the current interest rate for Sukanya Samriddhi Yojana?
The interest rate is fixed and varies slightly each year; you should check the latest rate with the government's official website.
Is there a lock-in period for Sukanya Samriddhi Yojana?
Yes, the scheme has a lock-in period of 6 years from the date of opening the account.
Results are for informational purposes only and do not constitute professional advice.