Introduced in 2015 as part of the Government of India’s Beti Bachao Beti Padhao initiative, the Sukanya Samriddhi Yojana (SSY) is a dedicated savings plan aimed at securing the financial future of girl children in the country. One of the key features that attracts many to this scheme is its attractive annual interest rate, which is significantly higher than most other government savings schemes.
To make savings planning easier, you can now use a Sukanya Samriddhi Yojana calculator, a useful tool to estimate your returns, maturity amount, and how much you need to invest over time.
What Is a Sukanya Samriddhi Yojana Calculator?
The Sukanya Samriddhi Yojana calculator is an online financial tool that helps you estimate the maturity amount of your investment under the SSY scheme. It calculates the total interest you may earn and how your money will grow over time. Whether you invest monthly or annually, this calculator provides clarity and helps you plan better.
This tool is based on the current interest rate and takes into account the duration, yearly investment amount, and age of the girl child.
How Does the Sukanya Samriddhi Yojana Calculator Work?
The Sukanya Samriddhi Calculator works using a compound interest formula to estimate the final amount:
A = P × (1 + r/n)^nt
Where:
- A= Maturity Amount
- P= Total Deposits (Principal Amount)
- r= Annual Interest Rate
- n= Number of times interest is compounded per year
- t= Investment Period in Years
This calculation gives you a fairly accurate estimate of your returns, though actual figures may vary slightly depending on changes in interest rates and deposit patterns.
How to Use the Angel One Sukanya Samriddhi Calculator Online?
- Enter the annual contribution: Input how much you plan to deposit each year (minimum ₹250 to a maximum of ₹1.5 lakh).
- Girl child’s age: Provide the current age of your daughter (account must be opened before she turns 10).
- Investment start year: Mention the year you wish to begin your investment.
Once this data is filled in, the Sukanya Samriddhi Yojana scheme calculator will show the estimated maturity amount, interest earned during the period and maturity year.
Benefits of Using Post Office Sukanya Samriddhi Yojana Calculator
- Easy to use: No complex maths—just input and view the results.
- Error-free estimates: Avoid manual mistakes in calculating interest over 21 years.
- Helps plan contributions: Know how much to invest regularly to reach your desired savings goal.
- Maturity year insight: Get clarity on when your investment will mature.
- Flexible adjustments: Try different contribution amounts and instantly see how it changes your returns.
Why Parents Should Use an SSY Calculator?
Many parents look for secure, long-term savings options for their daughters’ education and marriage. The Sukanya Samriddhi Yojana not only ensures disciplined savings but also comes with tax benefits under Section 80C of the Income Tax Act.
Using a Sukanya Samriddhi Yojana calculator allows you to:
- Visualise the future maturity value.
- Adjust your contribution strategy as per financial goals.
- Explore how early investments yield higher returns.
- Plan your savings confidently, knowing the expected outcome.
How Long Do You Need to Contribute?
The SSY scheme requires contributions for only 15 years, while the total tenure of the scheme is 21 years (6 years being a lock-in period). Even if you stop depositing after 15 years, the money in the account continues to earn interest until maturity.
Thus, your total savings will include:
- Principal Amount (total SSY deposits made)
- Interest earned for 21 years
Conclusion
The Sukanya Samriddhi Yojana calculator is a powerful tool that gives clarity and direction to your investment plans. Whether you use the post office Sukanya Samriddhi Yojana calculator or a bank’s version, it helps you assess returns, stay on track, and ensure financial security for your daughter’s future.
