SSY Calculator
Calculate returns on your Sukanya Samriddhi Yojana (SSY) investment for your girl child.
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What is SSY Calculator?
An SSY (Sukanya Samriddhi Yojana) Calculator helps you estimate the maturity amount and interest earned on your SSY investment for your girl child. SSY is a government-backed savings scheme launched as part of the Beti Bachao Beti Padhao campaign, designed to secure the financial future of girl children in India.
Our SSY Calculator calculates the maturity amount considering annual compounding at the current SSY interest rate. It shows you the total amount invested over 15 years, total interest earned, and the final maturity amount that will be available when your daughter turns 21, helping you plan for her education, marriage, or other financial needs.
Key Features of Sukanya Samriddhi Yojana
- Eligibility: Account can be opened for a girl child below 10 years of age
- Investment Period: 15 years from account opening
- Maturity Period: 21 years from account opening (when child turns 21)
- Minimum Investment: ₹250 per year
- Maximum Investment: ₹1.5 lakh per year
- Tax Benefits: Contributions eligible for deduction under Section 80C, interest and maturity are tax-free
- Interest Rate: Set by the government quarterly (currently around 8.2% p.a.)
Advantages of Using Braihn's SSY Calculator
- ✓Accurate Maturity Calculation
Get precise estimates of your SSY maturity amount using annual compounding at current interest rates.
- ✓Long-Term Planning
Plan your daughter's future financial needs including education, marriage, or career expenses.
- ✓Tax Planning Tool
Maximize tax benefits under Section 80C while building a secure financial future for your daughter.
- ✓Visual Investment Breakdown
See a clear breakdown of invested amount vs interest earned through interactive charts.
- ✓Free Financial Planning
Plan your SSY investments without any cost. No registration required - use our calculator anytime.
Frequently Asked Questions
Who can open an SSY account?
An SSY account can be opened by parents or legal guardians for a girl child below 10 years of age. Only one account can be opened per girl child, and a maximum of two accounts can be opened per family (for two girl children).
What is the current SSY interest rate?
The SSY interest rate is set by the government quarterly. As of 2024, it's around 8.2% per annum. The rate is reviewed every quarter and announced by the Ministry of Finance.
Can I withdraw money from SSY before maturity?
Partial withdrawals (up to 50% of the balance) are allowed after the girl child turns 18, but only for her education or marriage. The account matures when the child turns 21, and the entire amount can be withdrawn.
What happens if I don't invest the minimum amount in a year?
If you don't invest the minimum ₹250 in a year, your SSY account becomes inactive. You'll need to pay a penalty of ₹50 per year of default plus the minimum investment amount to reactivate it.
Is SSY better than PPF for girl child?
SSY offers higher interest rates (around 8.2%) compared to PPF (around 7.1%) and has a longer maturity period (21 years vs 15 years). SSY is specifically designed for girl children and offers better returns, making it ideal for their financial planning.
Need Help with SSY Investment Planning?
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