Sukanya Samridhi Yojana Calculator 2024

Sukanya Samridhi Yojana (SSY) is a money savings scheme aimed to motivate parents/guardians of the girl child to sum up an amount for her future education and marriage expenses. This calculator computes the interest gained and final maturity amount when you periodically invest in this scheme for your girl child (<10 years age). 

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About Fintra's Sukanya Samriddhi Yojana Calculator

As part of India's Government initiative Beti Bachao, Beti Padhao campaign, the Sukanya Samridhi Yojana (SSY), a small savings scheme, was launched in 2015. SSY is a scheme that revolves around the intention of the welfare of women and girl child in India. With the least amount of contribution of just Rs. 250, the scheme's applicants can avail higher returns along with tax benefits of maximum Rs. 1.5 lakh under section 80C of the Income Tax Act (1961). Fintra's Sukanya Samridhi Yojana calculator will assist in determining the returns you receive as per the invested amount and tenure.   

How does Sukanya Samridhi Yojana (SSY) Calculator work?

After providing the required details, this calculator will determine the value that will endorse on maturity. To effectively perform the process, at least one contribution in a year for 14 years is mandated.

  • It's assumed the individual will contribute the same amount every year
  • From 15th to 21st year, contributions not required, and interests are calculated based on previous the contributions done during the scheme period
  • Interest that gets generated while providing the final amount will be considered by the calculator

Fintra's Sukanya Samridhi Yojana Calculator Key Features

 The vital points involved in the working of the calculator that defines the method to use the SSY calculator and how it works are as follows:

  • The calculation can begin when you provide the girl child's age and the amount of contribution made
  • The minimum amount required for contributing towards this scheme is Rs. 250 and maximum amount of contribution is Rs.1,50,000
  •  The maturity period of the scheme is 21 years 

Calculation Formula

Sukanya Samridhi Yojana, a long-term investment scheme, has certain compounding benefits and the formula to calculate the related amount is:


In this formula,

  • A = Compound Interest
  • P = Principal Amount
  • r = Rate of Interest
  • n  = The number of times interest is compounded in a year
  • t = number of years 

To use Fintra's SSY Calculator, fill in the spaces with the details required:

  1. Amount Invested
  2. Girl's current age (in years). The age of girl child must not exceed 10 years and should be a resident of India
  3. Frequency of your contributions 
  4. SSY Annual Interest Rate

Hit the 'Submit' button and the results will appear on the side of the calculator. 

Sukanya Samridhi Yojana Account Providers

Reserve Bank of India has approved the following banks to provide SSY:

  1. Axis Bank
  2. State Bank of India (SBI)
  3. Central Bank of India (CBI)
  4. Bank of Maharashtra (BOM)
  5. Bank of India (BOI)
  6. Bank of Baroda (BOB)
  7. Punjab National Bank (PNB)
  8. Union Bank of India
  9. Vijaya Bank
  10. Indian Overseas Bank (IOB)
  11. Indian Bank
  12. IDBI Bank
  13. ICICI Bank
  14. UCO Bank
  15. Punjab & Sind Bank (PSB)
  16. Dena Bank
  17. Canara Bank

SSY's application forms can also be availed from post offices.

FAQs about Sukanya Samridhi Yojana (SSY) 

What are the benefits of using Fintra's SSY Calculator?

Use Fintra's SSY calculator to evaluate maturity amount at the end of the tenure. Our calculator will enable you to compute how much savings will be accrued:

  • SSY Calculator will help to appraise the amount that gets credited after maturity
  • It allows viewing maturity value according to a monthly and yearly basis
  • It eliminates mistakes that are carried out during manual calculations

Who is eligible for Sukanya Samriddhi Yojana Account?

The guardians, on behalf of their girl child, can open an account anytime but before she reaches 10 years of age. 

Under SSY, how many accounts can be opened? 

Under SSY, you can only open one account for a girl child. The number of accounts the guardians can open is restricted to two for each of their girl children. Only in certain cases, exceptions are allowed such as having twins or triplets.

To open an SSY account, what is the minimum amount required?

The minimum amount required to open an account is Rs. 250. To keep the account active the minimum investment is Rs. 250 as well.  

What happens if you do not make any deposits?

If you don’t make any deposits, then the SSY account is rendered to be inactive. To revive the account you have to pay a penalty charge of Rs. 50.

In a year, what is the maximum amount that you can deposit?

The maximum amount to deposit per year in SSY account is Rs. 1.5 Lakh.  

What is the maturity period of an SSY account?

The SSY account's maturity period is 21 years. However, deposits have to be made only for 14 years. Between the 14th and 21st year, the deposited corpus will earn interest. Please Note: The SSY account will get terminated once the girl child reaches the age of 21 or gets married, whichever is earlier. 

Does a Sukanya Samridhi Yojana (SSY) account provide income tax benefits? 

SSY accounts do provide income tax benefits up to Rs. 1.5 Lakh under Section 80C.

Can premature withdrawals be done from an SSY account? 

The account holder (the girl) can withdraw from her account once she reaches the age of 18. The account holder can only withdraw 50% of the accumulated amount after reaching this specified age only for higher education.

Can the SSY account be closed before maturity?

Only under certain events such as the accountholder’s death or for the treatment of life-threatening diseases and with the sanction that's authorised by the Central Government, the Sukanya Samridhi Yojana (SSY) account can be closed.

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