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.

SSY accounts offer an 8% rate of interest. A Sukanya Samriddhi Yojana calculator can help you determine the returns you receive as per the invested amount and tenure.

The first step to take benefit of the SSY calculator is to check whether the eligibility criteria of the scheme is fulfilled. SSY account can be opened by legal guardians of the girl child provided the following conditions are met:-

• The girl must be an Indian resident
• The girl shouldn’t be more than 10 years of age
• Upto two accounts can be opened in a family with two girl children.

Additionally, the legal guardians will also need to submit the following documents to be able to start the deposits in the scheme:-

• Duly filled scheme opening document which covers the basic personal details of the account holder and the girl child for whom the account is being opened.
• Birth certificate of the girl child.
• Depositor’s identification documents as well as a valid address proof.
• Medical certificate in the case of the birth of multiple children under a single birth order.
• Additional documents requested by the concerned authority.

Individuals who meet the aforementioned pre-requisites as well as have the supporting documents for the same are eligible for the scheme and hence can go ahead and use the SSY calculator online.

Often parents of the girl child, look to do investments in the name of their child that can help meet the expenses of their daughter’s education and marriage expenses.

While there are many investment avenues that can help parents achieve this, Sukanya Samriddhi Yojana has emerged as one of the most popular ones owing to the high-interest rate as well as the tax benefits it offers. Under Section 80 C of the Income Tax Act, 1961, individuals can claim tax exemption up to Rs 1.5 Lakh from the amount contributed to SSY account.

Moreover, the interest income generated from investing is tax-exempt as well. Tax benefits are extended to the maturity amount too. That being said, parents who have zeroed in on using Sukanya Samriddhi as the preferred investment option, now need a tool to calculate the total amount on maturity that they would receive. The manual calculation is cumbersome and prone to error. This is where the Sukanya Samriddhi Calculator comes in handy.

According to the maturity amount, investors can make adjustments to regular contributions to reach the desired corpus. The calculator is free to use and can generate error-free output for multiple iterations.

The Sukanya Samriddhi Yojana is a 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.

Few benefits of SSY calculators include-

• Shows you the year of maturity for your SSY account.
• Displays the amount you receive upon maturity.
• Helps you plan your investment portfolio more effectively.

The tenure for maturity for the amount is 21 years. It is important to note that it is important for individuals to make minimum one contribution a year to keep the scheme alive till 14 years are completed.

The individual may choose to not make contributions in the SSY account between a year and year 21 if they so wish. However, the previous investments made into the account will continue earning on the prevailing interest rate. The final amount is hence calculated based on your net contribution plus interest earned.

The Sukanya Yojana calculator uses the following formula to generate results:-

A = P (1 + r/n) ^ nt

Where –

A	Compound interest
P	Principal amount
r	Rate of interest
n	Number of times interest compounds in a year
t	Number of years

Just enter the investment amount per year, age of your girl child, and investment starting year.

The calculator will automatically display the maturity year and the amount you receive upon maturity after you enter the details.

Using the Sensex India Sukanya Samriddhi Yojana online calculator provides you with the following benefits –

• The Sensex India Sukanya Yojana calculator is free to use and can generate error-free output for multiple iterations.
• The calculator generates output within seconds.
• The tool is available online on Sensex India ‘s website and does not require downloading a utility.
• You don’t have to sign up or login to use the calculator, it does not ask any user information except the input fields.
• There is no limit to the number of times you can use the SSY calculator.
• The calculations are made based on the prevailing SSY interest rates for higher accuracy; individuals don’t have to manually enter interest rates.
• The SSY Calculator is up to date and any change implemented in the scheme itself, that affects the calculation of the corpus, will get auto reflected in the workings of the Sukanya Samriddhi calculator.
• The tool works equally efficiently on all devices.

The calculator of Sukanya Samriddhi Yojana assists you in determining the amount that you can comfortably invest each year. Opening an SSY account is one of the ways to secure your child’s future against expenses like higher education.

Upon reaching maturity, the entire corpus accumulated can be withdrawn by the girl child. This can be done after the following documents are produced:-

• Withdrawal application form
• ID Proof and valid address proof
• Citizenship documents

The corpus withdrawn can be used to meet the expenses of higher education of the girl child, provided she has cleared 10th Standard and reached 18 years of age. The amount can only be used to meet fee and admission charges. To prove that the amount is being utilised for educational purposes, the depositors are required to submit University admission documents as well as fee receipts.

Premature withdrawal to meet marriage expenses is allowed, provided the girl is 18 and above. The girl will be required to produce an affidavit that states that she is a major.

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