Total Invested Amount
₹ 22,50,000
Total Interest Earned
₹ 46,71,320
Maturity Value (at 21 Years)
₹ 69,21,320
About the Sukanya Samriddhi (SSY) Calculator
Our free Sukanya Samriddhi Yojana (SSY) Calculator helps parents and legal guardians compute the total maturity corpus, guaranteed annual compound interest, and year-by-year financial growth for their girl child's savings account.
1. SSY Mathematical Formula
The interest and compound maturity balances under Sukanya Samriddhi Yojana are calculated annually across a 21-year tenure as:
Interest Earned = (Opening Balance + Yearly Deposit) × (Annual Interest Rate % / 100)
Where the defined variables are:
- Opening Balance: The total accumulated account balance from the previous financial year.
- Yearly Deposit: Principal amount contributed during the current year (mandatory for the first 15 years only).
- Annual Interest Rate (%): The government-notified compounding interest rate per annum.
- Maturity Period: The total duration of the scheme, ending exactly 21 years from the date of account opening.
2. Practical Worked Example
Let us review a standard SSY investment scenario with maximum contributions:
- Yearly Investment: ₹1,50,000 per financial year
- Deposit Duration: 15 years (Total principal invested = ₹22,50,000)
- Annual Interest Rate: 8.2% per annum
- Total Scheme Tenure: 21 years
Calculation Breakdown:
- Total Principal Invested across 15 years = ₹22,50,000
- Interest continues compounding for an additional 6 years after contributions stop (from year 16 to 21).
- Total Cumulative Interest Earned $\approx$ ₹46,71,320
- Total Maturity Value at Year 21 = ₹22,50,000 + ₹46,71,320 = ₹69,21,320
Through the power of sovereign-backed compounding, your deposits more than triple by the time the account matures!
3. Frequently Asked Questions (FAQs)
1. Are SSY deposits and maturity proceeds completely tax-free?
Yes, Sukanya Samriddhi Yojana enjoys an Exempt-Exempt-Exempt (EEE) tax status. Deposits up to ₹1.5 Lakhs qualify for Section 80C deductions, and both the accumulated interest and maturity proceeds are entirely tax-free.
2. Can partial withdrawals be made from an SSY account?
Yes, partial withdrawals up to 50% of the accumulated balance at the end of the preceding financial year are permitted once the girl child attains 18 years of age or passes the 10th standard for higher education expenses.
3. What happens if minimum annual deposits are not made?
If the mandatory minimum deposit of ₹250 is not made in a financial year, the account becomes defaulted, but it can be revived with a penalty of ₹50 per year of default plus the minimum deposit arrears.
4. What is the eligibility criterion for opening an SSY account?
An SSY account can be opened by a parent or legal guardian for a girl child before she attains the age of 10 years. A maximum of two accounts are allowed per family (one per girl child, except in cases of twins or triplets).
5. Can the SSY account be closed prematurely?
Premature closure is allowed after 5 years under extreme circumstances such as the unfortunate demise of the account holder or life-threatening illness of the child, subject to proper documentation.
6. How is the interest frequency handled for SSY?
Interest is calculated monthly on the lowest balance available in the account between the close of the 5th day and the end of the month, but it is compounded and credited annually at the end of every financial year.
7. What happens after the 21-year maturity period?
Once the 21-year maturity period is reached, the account matures, and the full corpus is paid out to the beneficiary. If not closed, the account stops earning interest post-maturity.
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