The Sukanya Samriddhi Yojana offers an interest rate of 8.5% per annum. The tenure for maturity for the amount is 21 years. ... The final amount is hence calculated based on your net contribution plus interest earned.

How to Online Apply (SSY) Sukanya Samriddhi Yojana Gujarat |

Sukanya Samriddhi Yojana (SSY) is a savings scheme launched back in 2015 as part of the Government initiative Beti Bachao, Beti Padhao campaign. This scheme enables guardians to open a savings account for their girl child with an authorised commercial bank or India Post branch.

As of 1st July 2019, SSY accounts offer 8.4% rate of interest. A Sukanya Samriddhi Yojana calculator can help you determine the returns you receive as per the invested amount and tenure.

**Page Content :**

- How can use Skanya samrudhdhi Calculator?
- How dose SSY Calculator Work ?
- Details of SSY Calculator.
- Monthly anf Yearly contribution Calculation.

**A scheme that was launched for girls as a part of the ‘Beti Bachao Beti Padhao’ campaign is the Sukanya Samriddhi Yojana (SSY) scheme.**

- Contributions as low as Rs.250 can be made
- High interest rates of up to 8.50% p.a.
- Tax benefits of up to Rs.1.5 lakh
- Contributions made are minimal on risk

**Who Are The Individuals That Can Use The SSY Calculator?**

Individuals who are planning to invest in the SSY scheme can check the amount they will receive at the time of maturity by using the SSY calculator.

In order for individuals to use the SSY calculator, they must meet the eligibility criteria of the scheme. As per the scheme, the below-mentioned individuals can open an SSY account:

The girl must be a resident of India.

The age of the girl should not exceed 10 years.

In a single family, the Sukanya Samriddhi Yojana account cannot be opened for more than two girls.

For more information, Check out related articles Sukanya Samriddhi Yojana Age Limit, Sukanya Samriddhi Account Balance & Sukanya Samriddhi Account Passbook.

**Method To Use Sukanya Samriddhi Yojana Calculator**

- Once the individual has met the eligibility of Sukanya Samriddhi Yojana, the age of the girl child and the amount of investment that must be made should be provided in the calculator. The minimum and maximum amount that can be invested towards the scheme are Rs.250 and Rs.1.5 lakh, respectively. Earlier, the minimum contribution was Rs.1,000. However, the Indian Government reduced the minimum contribution to Rs.250 in July 2018.

**How Does SSY Calculator Work?**

Based on the details entered by the individual, the SSY calculator determines the amount of money the individual will receive on maturity. The maturity period of the scheme is 21 years.

It is mandatory for individuals to make at least one contribution in a year until the completion of 14 years. The calculator will assume that the same amount of deposit is made on a yearly basis. No deposits are required to be made between year 15 and year 21. However, individuals will earn interest on the previous contributions during this period. The calculator also considers the interest that is generated when providing the final amount.

**What Details Are Shown By SSY Calculator?**

Depending on the details that are provided by the individual, the calculator shows the year the scheme matures, the interest rate that was used, and the maturity value.

An example of the details shown by the Sukanya Samriddhi Yojana calculator is shown below:

**Assumptions:**

- Yearly deposit: Rs.1,00,000
- Rate of Interest: 8.50%

**When Can We Withdraw From The SSY Account And What Is The Maximum That Can Be Withdrawn?**

When the girl child for whom the SSY account has been opened either pass 10th standard or turns 18, you can withdraw from the account. A maximum of 50% of the deposit made towards the account can be withdrawn to be used for higher education of the girl child.

- Read Details in Gujarati :
**Click here** - Read all Details :
**Click here** **Click here to Calculate**

**Calculation Of Maturity Value Under SSY After 21 Years :**

- As it is difficult to make an accurate calculation of maturity value in this scheme as it depends on many variables. However, by keeping the variable constant with the monthly and the yearly contribution as the only variable, the maturity value can be calculated in the form of a table.

**For the following calculation, some assumptions have been made, they are:**

- The rate of Interest is assumed to be 8.1% throughout the period of the scheme for 21 years.
- Monthly contributions have to be made on the 1st day of every month.
- Yearly contributions have to be made on 1st of April every year.
- A fixed amount for monthly or yearly contribution has been consumed.
- It has also been assumed that throughout these 21 years, there have been no withdrawals made.

**Yearly Contribution Table:**

**Monthly Contribution Table**

- Advantages Of Sukanya Samriddhi Yojana Calculator
- Sukanya Samriddhi Yojana Calculator – SSY Calculator Online

**How Can An SSY Calculator Help You?**

The Sukanya Samriddhi Yojana is long-term investment scheme that can generate high ROI. You have to make a minimum contribution each year to keep the account active.

Hence, using a Sukanya Samriddhi Yojana calculator online is beneficial to have an overall assessment of your investments and returns.

**Formula Used For Calculating SSY Calculator**

- The Sukanya Samriddhi Yojana offers an interest rate of 8.5% per annum. As a long-term investment, it also allows the benefit of compounding. The formula as such is –
- A Compound interest
- P Principal amount
- r Rate of interest
- n Number of times interest compounds in a year
- t Number of years

**Are There Any Risks Of Investing In SSY?**

- Since SSY was launched by the Indian Government, there are no risks.
- Are there any tax benefits in case an individual invests in an SSY account?
- Under Section 80C of the Income Tax Act, 1961, tax benefits of up to Rs.1.5 lakh are exempted.
- What Is The Rate Of Interest That Is Earned In An SSY Account?
- Currently, the rate of interest is 8.5% for the financial year 2018-2019.
- Can the same girl child have more than one SSY account?
- No, a girl child can have only one SSY account under her name.

**Can An Individual Avail A Loan On SSY Account?**

- No, loan facilities are not provided under SSY.
- Is there any minimum and maximum amount that can be deposited in an SSY account?
- The minimum amount is Rs.1,000 and the maximum amount is Rs.1.5 lakh