Sukanya Samriddhi Yojana Calculator

byDilip PrasadLast Updated: February 16, 2024
Sukanya Samriddhi Yojana Calculator

Sukanya Samriddhi Yojana (SSY) is a long-term savings scheme, which was launched under the ‘Beti Bachao, Beti Padao’ campaign. This scheme provides an opportunity for the guardian to open a savings account for the girl child.  With a lucrative interest rate of 7.6%, the SSY helps to accumulate funds in the long-term and secure the financial future of the girl child.

The parent/ guardian of the girl child can open Sukanya Samriddhi Yojana with an authorized commercial bank or India Post branch. The account holder can make use of the Sukanya Samriddhi Yojana calculator to calculate the returns they will receive on the invested amount and tenure. Let’s read further to know in detail about Sukanya Samriddhi Yojana Calculator.

SSY Account Basic Information

Maturity Period21 years
SSY Interest Rate 2022-237.6% per annum
Minimum DepositRs. 250 p.a
Maximum DepositRs. 1.5 lakh p.a
Maturity AmountDepends on the Investment

Key Features of Sukanya Samriddhi Calculator

Let’s take a look at some of the key features of the Sukanya Yojana calculator including the important information to perform the calculation at an ease:

  • Enter the girl child’s age
  • Enter the amount of contribution made towards the scheme ( the minimum contribution that can be made towards the scheme is Rs. 250 and the maximum contribution limit towards the scheme is Rs.1.5 lakh in a financial year)
  • With the help of the Sukanya Samriddhi Yojana calculator, the parents can easily evaluate the return for the entire investment duration. The maturity tenure of the scheme is 21 years

Eligibility Criteria to Use Sukanya Samriddhi Yojana Account Calculator 2024

Any individual who wants to invest in SSY can calculate the maturity amount they will receive by using the SSY calculator. There are certain eligibility criteria that an individual needs to follow while using the calculator.

  • The scheme can be availed for a maximum of two girls from a single-family
  • The account holder girl should be an Indian resident
  •  The age of the girl child should not be more than 10 years
  • The facility of partial withdrawal can be availed only after the girl attains the age of 18 years
  •  The amount contributed should be for a minimum tenure of 15 years from the date of opening the account
  • The interest rate of the scheme is set by the government of India and is subject to changes

How to Calculate Returns on Sukanya Samriddhi Yojana?

The Ministry of Finance governs the SSY interest rate and the current interest rate applicable is 7.6% annually.  The account holder needs to make a minimum of 1 contribution towards the scheme in a year until the completion of 14 years. The final amount is computed based on the total invested amount plus the interest earned.

The SSY calculator uses the following formula to generate results:

Compound interest= Principal Amount(1+ Rate of Interest/ Number of Times Interest Compounds in a Year)* Number of Years

How to Use Sukanya Samriddhi Yojana Calculator?

To use the SSY calculator, the account holder will need to enter the following details:

  • Enter the amount you want to invest into the scheme
  • Enter the age of the girl child for which he/she wants to open the account
  • Starting year of investment

Once you enter all the required details, the SSY calculator will show the following results:

  • Year of maturity of the scheme. The SSY matures in 21 years
  • The accumulated maturity benefit the girl child will receive during the maturity of the scheme

The Pradhan Mantri Sukanya Samriddhi Yojana Calculator uses the following formula to generate the result:

A= P(1+r/n)^nt


A = Compound Interest

P= Principal Amount

r= rate of interest

n= number of interest compounded in a year

t= number of years

Documents Required to Open Sukanya Samriddhi Yojana

Here is the list of documents that should be kept handy while opening an SSY account:

  • Sukanya Samriddhi Yojana account opening form
  • Birth certificate of the girl child
  • Address proof and identity proof of the depositor
  • Any other documents requested by the bank and post-office
  • A medical certificate is required to be submitted
  • In case twins or triplets are born under one order of birth

What are the eligibility criteria for an SSY account?

The parent of the girl child can open the Sukanya Samriddhi Yojana account on behalf of the girl child right from the day she is born and before she reaches the age of 10 years.

What is the minimum contribution amount required to open the Sukanya Samriddhi Yojana Account?

A minimum contribution of Rs.250 is required to open an SSY account, whereas an individual can invest up to a maximum of Rs.1.5 lakh in a financial year.

Who can deposit or operate the SSY account?

The legal guardian or parent of the girl child can operate the account until the girl child attains the age of 18 years or until the maturity of the account. The girl child can operate the account as soon as she turns 18 years.

What is the maturity period of Sukanya Samriddhi Account?

The maturity period of a Sukanya Samriddhi Yojana (SSY) account is 21 years from the date the account is opened.

On which date interest is calculated in Sukanya Samriddhi Account?

The interest on your deposits in the Sukanya Samriddhi Account will be calculated based on the lowest balance between the fifth and the end of the month. To earn a higher interest amount, make sure that your deposits are credited to the account before the fifth of each month.

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