Sukanya Samriddhi Yojana Calculator

In today’s time being a parent of a daughter, our biggest concern always remain is the financial planning for the future of our daughter so that she can get a good education and you can do a great grand wedding of your daughter.

Hence, investing in Sukanya Samriddhi Yojana is the best decision you can take today. Using the above Sukanya Samriddhi Yojana Calculator you can calculate the return you will get on your investment.

Let’s take a deep look how this calculator works and how it can benefit you but before that let’s quickly recap what is sukanya samriddhi yojana.

So let’s get started!

What is Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana is a scheme introduced by our Honourable Prime Minister back in 2015 with an aim to provide secure future to all the daughter of India by doing a proper financial planning from now onwards.

Earlier, it was seen that many parents initially didn’t do the financial planning for their daughter higher studies and marriage due to which when the time comes either daughter were forced to leave the higher education or parents may take heavy loans that eventually they aren’t able to repay later on.

Hence, Sukanya Samriddhi Yojana is a scheme where you can start investing for the future of your daughter of age less then or equal to max 10 years from today onwards.

Here you can invest upto Rs. 1,50,000 in a single financial year where the Government of India gives an interest on your investment and it keep compounding throughout the years.

There is a lock in period of 21 years in this Yojana where you just need to invest for 15 years and then there is an additional 6 Years lock in period.

Hence, the maturity date of Sukanya Samriddhi Yojana is 21 years from the year you start investing the money in it.

What is Sukanya Samriddhi Yojana Calculator

Our Sukanya Samriddhi Yojana Calculator is your best friend designed to give you a rough idea about the returns you can expect from your investment in this scheme.

Do remember the interest rate provided on Sukanya Samriddhi Yojana keeps changing every quarter hence, the returns can vary from what is showing in this calculator.

How Sukanya Samriddhi Yojana Calculator Works

Using our Sukanya Samriddhi Yojana Calculator is very easy.

You just need to fill out how much amount in total you are planning to invest every year in the Sukanya Samriddhi Yojana Account.

Do note you can invest this amount monthly too, but to use this calculator write how much total amount you will invest in a year.

The annual interest rate is automatically selected based on the Latest annual interest rate on Sukanya Samriddhi Yojana.

Results Display

Total Returns After 21 Years:
Maturity Year: This is the maturity year of your Sukanya Samriddhi Yojana if you start investing from today.
Total Investment: This is the total investment you will do in this Yojana throughout the years.
Maturity Amount: Finally, this is the maturity amount you can expect getting at the maturity of your Sukanya Samriddhi Yojana.

Example Using SSY Calculator

Let’s say you invest Rs. 1,50,000 every financial year upto 15 years (the maximum time limit for investing money in Sukanya Samriddhi Yojana Account).

While if your investment compounds at 8.2% annually, taking into consideration that the interest rate will not change while in real life scenario’s it do change every quarter.

So you can checkout using our SSY calculator, we get to know that:-

• The maturity year of our SSY account is 2045 if we start investing from today based on the maturity of Sukanya Samriddhi Yojana of 21 years in total.
• You will invest total Rs. 2,250,000 in 15 years (the maximum investment time of the yojana).
• While your maturity amount will become Rs. 7,182,119 at end of 21 years (15 Years investment + 6 years lock in period).

Hence, that’s the maximum amount one can have for their daughter’s future. But do remember here the amount if showing to you is not inflation adjusted.

Thus, you should take the inflation into the consideration too.

**While this amount is completely tax free hence, if you had gone for mutual fund investing that of course gives you higher returns but the return generate in mutual fund are not tax free.

**With that you can even take the tax exemption on the contributions made in your Sukanya Samriddhi account that again is your additional profit.

Hence, if you look out the net returns are higher in SSY if you take the taxation into consideration.

Benefits of Using Sukanya Samriddhi Yojana Calculator

• Easy Financial Planning: Our calculator simplifies the process of forecasting your savings for your daughter’s future from today, allowing you to adjust your contributions based on your financial situation.
• Saves From Stress & Anxiety: Knowing how much money your daughter will have for her higher studies and marriage, gives you a comfort and protects your from future and anxieties that one may have if they don’t do any planning.
• Time Saving – It saves a lot of your effort you otherwise have put in doing the manual calculation for your SSY account.
• Makes You Disciplined: Seeing projected returns in advance can motivate you to stick to your savings plan for your daughter future.
• Customizable Scenarios: You can play around with different monthly contributions and time frames to find the best plan for your family.

Factors To Remember While Using our SSY Calculator

Before using our SSY Calculator, you should keep in mind the below conditions for investing in this Sukanya Samriddhi Yojana

1. You can invest in SSY, only if your daughter age is currently equal to or less then 10 years.
2. You can only invest upto Rs. 1.5 Lakh in a single financial year.
3. You can open a Sukanya Samriddhi Yojana account with your bank or post office but only one account can be open in total for 1 girl child. Thus, if you have two daughter you can open two different SSY account, one for each daughter.
4. You can do a premature withdrawal of upto 50% amount from your Sukanya Samriddhi Yojana account once your daughter becomes 18 years old for her higher education and marriage purpose.
5. Until your daughter becomes 18 year old, the parent or Guardian of the daughter control the SSY account while after their daughter becomes 18 years old, she can take the control of her SSY account.

Frequently Asked Questions

Final Words – SSY Calculator

Finally, I hope that using our SSY calculator you will be able to plan a better future for your daughter that she deserves.

Do remember if you are a NRI then you can’t take the benefit of Sukanya Samriddhi Yojana.

For this scheme, you and your daughter both need to be and remain Indian citizen till the maturity of this scheme.

Disclaimer: The Honest American provides financial education, investing strategies, & stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

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