Sukanya Samriddhi calculator: What is it, and how does it work?

Sukanya Samriddhi calculator: What is it, and how does it work?

You can calculate the maturity amount as per the tenure using the Sukanya Samriddhi calculator. This will allow you to plan your child’s future accordingly. 

In order to use this tool, you must provide information about the child’s age, the amount of contribution per year, and when you started investing. Based on these details, the calculator calculates interest, maturity year, and maturity amount earned on this investment. 

To determine these figures, the calculator also considers the latest SSY interest rate.

According to the Sukanya Samriddhi Yojana calculator, there are a number of assumptions that must be made:

  • A consistent amount of money is deposited by an investor every year.
  • Sukanya Samriddhi calculator calculates interest based on the previous deposits because there are no deposits from 15th to 21st of investment. 
  • SSY’s interest rate remains constant throughout its 21-year duration, at 7.6% (according to the latest rate announced by RBI).
  • Every year, 1st April is the day that deposits are made.
  • The first of every month is the day for monthly deposits to be made.
  • 21 years pass without any withdrawals.

Here is the formula the Sukanya Samriddhi Yojana calculator uses to complete calculations. Now that you know what an SSY calculator is, let’s explore what that formula entails.

Formula for Calculating the Returns from Sukanya Samriddhi Yojana

Below is the compound interest formula that Sukanya Samriddhi Yojana calculator uses to estimate interest:

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


Compound interest is represented by A

P stands for principal 

r is the rate of interest

The number of compounding interests in a given year is n

Years are indicated by t

As an example, let us explain this formula:

Accordingly, if Mrs. Sharma deposits Rs.50,000 every year for 14 years in Sukanya Samriddhi Yojana and does not withdraw anything during the scheme’s 21-year tenure, she is considered to be a long-term investor.

Based on this information, the SSY calculator will apply the formula as follows:

Deposit Each Year for 21 Years Interest Earned (as Per the Current Rate @7.6%) (Approx.) Year-end Balance (Approx.)
Rs.50,000 Rs.3,800 Rs.53,800
Rs.50,000 Rs.7,889 Rs.1,11,689
Rs.50,000 Rs.12,288 Rs.1,73,977
Rs.50,000 Rs.17,022 Rs.2,40,999
Rs.50,000 Rs.22,116 Rs.3,13,115
Rs.50,000 Rs.27,597 Rs.3,90,712
Rs.50,000 Rs.33,494 Rs.4,74,206
Rs.50,000 Rs.39,840 Rs.5,64,046
Rs.50,000 Rs.46,667 Rs.6,60,713
Rs.50,000 Rs.54,014 Rs.7,64,728
Rs.50,000 Rs.61,919 Rs.8,76,647
Rs.50,000 Rs.70,425 Rs.9,97,072
Rs.50,000 Rs.79,577 Rs.11,26,650
Rs.50,000 Rs.89,425 Rs.12,66,075
Rs.0 Rs.96,222 Rs.13,62,297
Rs.0 Rs.1,03,535 Rs.14,65,831
Rs.0 Rs.1,11, 403 Rs.15,77,234
Rs.0 Rs.1,19,870 Rs.16,97,104
Rs.0 Rs.1,28,980 Rs.18,26,084
Rs.0 Rs.1,38,782 Rs.19,64,867
Rs.0 Rs.1,49,330 Rs.21,14,196

The Sukanya Samriddhi calculator will calculate the interest earned on a Rs.50,000 annual deposit for 14 years as Rs.14,14,196, and the maturity amount as Rs.21,14,196.

Duration of the Sukanya Samriddhi Yojana lock-in period

In order to keep an account active, a depositor must make at least one investment per year for 14 years under Sukanya Samriddhi Yojana. In a financial year, the maximum amount of investment is Rs.1,50,000. There is a minimum contribution of Rs.250 per year.

The SSY account can, however, be withdrawn from investment after the 15th year until the 21st year. During the preceding years of investment, the Sukanya Samriddhi Yojana account will continue to earn interest at the prevailing rate of interest. Consequently, this scheme’s maturity amount is the interest earned plus net investment.

SSY Calculator: How can it help you?

Those who plan to invest in the Sukanya Samriddhi Yojana can use the calculator to determine the maturity amount that your girl child will receive after the scheme ends. 

Additionally, the manual calculation can be time-consuming and prone to errors. Therefore, an SSY calculator is a helpful tool since it generates error-free results for multiple repeats. As a result, prospective investors can eliminate lengthy calculations. 

The calculator will also allow you to determine how much regular contribution you will have to make to reach your desired maturity amount based on the estimated maturity amount. The calculator is available online and will allow you to make regular contributions. Investors have easy access to it since there are no applicable charges.

Consequently, the Sukanya Samriddhi calculator can be a very useful tool for effectively assessing your investment returns and planning your investment portfolio.


Sukanya Samriddhi Calculator advantages

A Sukanya Yojana calculator provides a number of benefits to investors, some of which are listed below:

  • It takes only seconds for the calculator to calculate the investor’s interest and maturity amount.
  • By eliminating possible errors during manual calculations, the SSY calculator helps you determine accurate figures.
  • Both yearly and monthly contributions are taken into account when calculating the maturity value of your investment.
  • Your girl child can benefit from this calculator by investing in her higher education, healthcare, career opportunities, and marriage.
  • You can use this calculator from your home using this easy-to-use online calculator.

Sukanya Samriddhi Yojana Calculator: How to use it?

Here are the details you need to enter to use the SSY calculator:

  • In order to qualify for this scheme, a girl must be at least 10 years old.
  • The amount you can invest per year is between Rs.250 and Rs.1,50,000.

Sukanya Samriddhi calculates the maturity year of your investment, the amount of interest that has accrued, and the maturity amount after you enter these details.

When parents want to ensure the financial future of their girl child, SSY is an excellent investment instrument. The returns earned by this scheme can be used to achieve major milestones in a girl’s life, such as her education and marriage. Additionally, it offers a high interest rate along with tax benefits.

Through the Sukanya Samriddhi Yojana calculator, prospective investors can plan for their child’s future and allocate resources accordingly so they do not fall into financial difficulties in the future.


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