Sukanya Samriddhi Yojana (SSY) Calculator
Sukanya Samriddhi Yojana (SSY) Calculator instantly calculates the maturity amount, total interest earned, and total investment value for your daughter’s future. Enter the annual investment amount, the girl child’s age, and the investment start year to calculate SSY returns based on the latest interest rates.
Sukanya Samriddhi Yojana is a government-backed savings scheme offering tax-free returns and guaranteed growth for girl children below 10 years. The calculator helps parents plan future expenses like education and marriage with ease while understanding the long-term benefits of disciplined savings.
Who Can Use ClearTax SSY Calculator?
Anyone who is eligible to open or invest in a Sukanya Samriddhi Yojana (SSY) account can use this calculator. Before using it, ensure that the eligibility conditions for opening an SSY account are met. The calculator is particularly useful for parents or legal guardians of a girl child who want to estimate the maturity amount, interest earned, and total investment based on the latest SSY interest rate.
The ClearTax SSY Calculator is useful for:
- Parents or legal guardians planning to open or contribute to an SSY account.
- Individuals who want to estimate the SSY maturity amount before investing.
- Existing SSY account holders looking to track future returns.
- Anyone comparing SSY with other long-term savings or investment options for a girl child.
How to use ClearTax Sukanya Samriddhi Yojana Calculator?
The SSY Calculator shows you the interest you have earned and the maturity amount on the SSY account. To use the Sukanya Samriddhi Yojana Calculator:
- Step 1: Enter the Yearly deposit amount up to Rs 1.5 lakh a year.
- Step 2: Enter the age of the girl child in years (maximum age of 10 years).
- Step 3: Enter the investment starting year.
The SSY Calculator shows:
- Total Investment
- Interest Earned
- Maturity Amount
- Maturity year
- Girl Age at Maturity
What is SSY Calculator Formula?
The SSY calculator use formula below:
A = P(1+r/n)^nt
where,
- P = Initial Deposit
- r = Rate of interest
- n = Number of years the interest compounds
- t = Number of years
- A = Amount at maturity
Example For Sukanya Samriddhi Yojana Calculation
The SSY account offers an interest rate of 8.2% p.a. Let us calculate the maturity amount after 21 years. If you deposit Rs. 50,000 each year for 21 years in the SSY account, you will get Rs 23,94,040 at maturity. The table below shows the calculations:
| Year | Opening Balance (Rs.) | Deposit (Rs.) | Interest (Rs.) | Closing Balance (Rs.) |
| 1 | 0 | 50,000 | 4,100 | 54,100 |
| 2 | 54,100 | 50,000 | 8,536 | 1,12,636 |
| 3 | 1,12,636 | 50,000 | 13,336 | 1,75,972 |
| 4 | 1,75,972 | 50,000 | 18,530 | 2,44,502 |
| 5 | 2,44,502 | 50,000 | 24,149 | 3,18,651 |
| 6 | 3,18,651 | 50,000 | 30,229 | 3,98,881 |
| 7 | 3,98,881 | 50,000 | 36,808 | 4,85,689 |
| 8 | 4,85,689 | 50,000 | 43,926 | 5,79,615 |
| 9 | 5,79,615 | 50,000 | 51,628 | 6,81,244 |
| 10 | 6,81,244 | 50,000 | 59,962 | 7,91,206 |
| 11 | 7,91,206 | 50,000 | 68,979 | 9,10,185 |
| 12 | 9,10,185 | 50,000 | 78,735 | 10,38,920 |
| 13 | 10,38,920 | 50,000 | 89,291 | 11,78,211 |
| 14 | 11,78,211 | 50,000 | 1,00,713 | 13,28,925 |
| 15 | 13,28,925 | 50,000 | 1,13,072 | 14,91,996 |
| 16 | 14,91,996 | 0 | 1,22,344 | 16,14,340 |
| 17 | 16,14,340 | 0 | 1,32,376 | 17,46,716 |
| 18 | 17,46,716 | 0 | 1,43,231 | 18,89,947 |
| 19 | 18,89,947 | 0 | 1,54,976 | 20,44,922 |
| 20 | 20,44,922 | 0 | 1,67,684 | 22,12,606 |
| 21 | 22,12,606 | 0 | 1,81,434 | 23,94,040 |
The table below shows the final amount you will receive at maturity based on different investment amounts:
| Annual Investment | Total Investment | Interest Earned | Maturity Amount (after 21 years) |
| 10,000 | 1,50,000 | 3,28,808 | 4,78,808 |
| 25,000 | 3,75,000 | 8,22,020 | 11,97,020 |
| 50,000 | 7,50,000 | 16,44,040 | 23,94,040 |
| 75,000 | 11,25,000 | 24,66,060 | 35,91,060 |
| 1,00,000 | 15,00,000 | 32,88,079 | 47,88,079 |
| 1,50,000 | 22,50,000 | 49,32,119 | 71,82,119 |
(Note: The contribution period for the SSY account is 15 years. You can not deposit during the lock-in period, but the balanced amount in your SSY account will attract annual interest in this period)
Tax Benefits Calculation of Sukanya Samriddhi Yojana
Since SSY is eligible for deduction under section 80C, investments in the scheme can reduce your taxable income up to ₹1.5 lakhs. The following is an illustration for tax savings under SSY under the old regime.
| Particulars | With SSY deduction | Without SSY deduction |
| Gross Salary | 15,00,000 | 15,00,000 |
| Standard Deduction | 50,000 | 50,000 |
| Net Salary | 14,50,000 | 14,50,000 |
| Investment deduction under SSY | 1,50,000 | 0 |
| Taxable income | 13,00,000 | 14,50,000 |
| Tax Liability (Including cess) | 2,10,600 | 2,57,400 |
Why Use ClearTax SSY Calculator?
The ClearTax SSY Calculator helps you estimate your Sukanya Samriddhi Yojana (SSY) maturity amount in seconds. It uses the latest SSY interest rate to provide accurate projections, making it easier to plan your daughter's future financial goals.
ClearTax Sukanya Samriddhi Yojana (SSY) calculator provides an easy option for investors to estimate SSY maturity, interest amount, and investments by:
- Instantly calculating the estimated maturity amount and interest earned.
- Using the latest SSY interest rate for accurate projections.
- Helping you plan yearly investments and long-term savings.
- Its is free, online, and easy to use with no manual calculations.
- Enabling better financial planning for education and marriage expenses.
Benefits of Using an SSY Calculator
- The SSY Calculator helps you quickly estimate the maturity amount, total deposits, and interest earned on your SSY account without manual calculations.
- It gives parents a realistic idea of how yearly investments can grow over time through compounding, making long-term financial planning easier.
- The calculator helps investors plan contributions within the ₹250 - ₹1.5 lakh yearly investment limit allowed under the scheme.
- Since the government periodically revises SSY interest rates, the calculator provides updated estimates based on latest rate.
The SSY Calculator helps you plan smartly, showing how annual deposits grow over 15 years into a substantial, tax-free corpus at maturity. Secure your daughter’s education and marriage expenses with confidence and guaranteed returns.
How Can I Use The Corpus Accumulated From SSY Contributions?
The maturity amount received under the Sukanya Samriddhi Yojana (SSY) can be used to meet your daughter's major financial goals. Some common uses include:
- Higher education expenses in India or abroad.
- Marriage expenses after the girl child attains the eligible age.
- Professional courses, skill development, or other career-related expenses.
- Any other financial requirement of the girl child after the account matures.
Since the maturity proceeds are tax-free (subject to the scheme conditions), the corpus can be used without any restrictions after maturity.
The SSY corpus can be used for the girl child's higher education after she turns 18 years and has passed Class 10, subject to the applicable scheme rules. The withdrawal is permitted for eligible education expenses, such as admission and tuition fees, and may require supporting documents like admission letters and fee receipts.
Premature closure is also allowed for marriage expenses after the girl attains 18 years of age, subject to submission of the prescribed declaration or supporting documents.
Frequently Asked Questions
About the Author
REPAKA PAVAN ADITYA
I manifest my zeal in financial qualitative & quantitative research and have been instrumental in creating a robust process for the evaluation and monitoring of mutual funds. I’m responsible for Equity and Mutual Funds Research while creating instrumental mathematical models for portfolio construction after evaluating funds, and I play an integral role in analyzing changes in mutual funds, micro, and macro-economic indicators, and equity market events and trends. My views on asset classes which are integral in creating an investment strategy for any profile. Read more
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