About the SSY Calculator (Sukanya Samriddhi Yojana)
Calculate exact maturity amount and interest earned under the Govt of India's Sukanya Samriddhi Yojana (SSY) for your girl child. Understanding how this works can significantly improve your financial planning. This tool is designed to provide you with the most accurate and up-to-date calculations required for your specific needs.
The Mathematical Formula
How to use this calculator?
Enter Yearly Deposit
Input the amount you plan to invest every year (between รขโยน250 and รขโยน1.5 Lakhs).
Enter Girl's Age
Input the current age of your daughter (must be 10 years or below to open the account).
Check Maturity
Instantly see the huge tax-free corpus you will receive when your daughter turns 21 years old.
Frequently Asked Questions (FAQs)
Q. What is the lock-in period for SSY?
The SSY account matures 21 years after the date of opening. However, partial withdrawals are allowed for higher education when the girl turns 18.
Q. Do I have to invest for 21 years?
No, you only need to make deposits for the first 15 years. From year 16 to 21, the account continues to earn interest without requiring new deposits.
Q. Are returns from SSY tax-free?
Yes, SSY falls under the EEE (Exempt-Exempt-Exempt) category. The investment (under 80C), the interest earned, and the maturity amount are all 100% tax-free.
Source & Citations: Mathematical models used in this tool are based on standard compounding formulas as recognized by the Reserve Bank of India (RBI) and major financial institutions.
Disclaimer: The results provided by this calculator are for informational purposes only. Actual returns or loan values may vary based on market conditions, bank policies, and taxation laws.