Sukanya Samriddhi Yojana Calculator (SSY Maturity Estimate)

How to use the SSY calculator

1. Pick yearly or monthly deposit. A monthly figure is multiplied by 12 and treated as that year's total.
2. Type the amount. Keep the yearly total between Rs 250 and Rs 1,50,000, since a year below the minimum puts the account in default, and anything above the maximum earns no interest and is returned.
3. Leave the rate at 8.2% or change it to test a higher or lower rate.
4. Choose start of year or end of year for the deposit timing.
5. Read the year-wise table: deposit, interest for the year and closing balance for each of the 21 years.

The same SSY calculator works for a post office account or an SBI account, because the same rate, notified by the government, covers every SSY account. So a sukanya samriddhi yojana calculator from SBI or a post office should match this scheme calculator when it uses the same rate and deposit timing.

How this sukanya samriddhi yojana calculator works out maturity

The method follows the scheme rules as closely as a simple yearly model can.

• Annual compounding: interest is credited at each financial year end, so the tool adds interest once a year and the following year starts from a bigger balance.
• Deposits for 15 years: money can be paid in only during the first 15 years of the account, so the tool adds a deposit in years 1 to 15 and none after.
• No deposits in years 16 to 21: the balance just keeps earning interest until maturity, which is 21 years from opening.
• Start-of-year timing (default): the tool assumes the full year's deposit goes in at the start of the year, by 5 April. The scheme takes, for every month, the minimum balance between the 5th and the month's close, so an April payment made on or before the 5th earns for all twelve months. Year 1 interest is simply rate times deposit. For example, a Rs 50,000 deposit at 8.2% earns Rs 4,100 in year 1.

Benchmark: with Rs 1,50,000 every year at 8.2% and start-of-year deposits, the balance after 15 years is Rs 44,75,989 and the maturity value at 21 years is Rs 71,82,119. That matches the figure published by ClearTax to the rupee, with total deposits of Rs 22,50,000 and interest of Rs 49,32,119.

End-of-year option: if you choose end-of-year deposits, each year's money earns nothing in the year it is paid. The same Rs 1,50,000 a year then gives Rs 41,36,774 after 15 years and Rs 66,37,818 at maturity, the lower figure.

Monthly deposit chart at 8.2%

This sukanya samriddhi yojana chart shows what common monthly amounts could grow to at 8.2%, assuming each year's total is in by the start of the year and the rate never changes. Figures are copied from our worked examples.

For a post office sukanya samriddhi yojana account with monthly deposits of 1000 rupees, that is Rs 12,000 a year and an estimated Rs 5,74,570 at maturity. Rs 2,000 a month comes to about Rs 11,49,139, and Rs 5,000 a month to about Rs 28,72,848.

Yearly deposit chart

If you prefer to pay once a year, here is the same calculation for yearly amounts, again at 8.2% with each payment made as the year begins.

Notice that interest is more than double the money you put in for every row. That is the effect of 21 years of yearly compounding, including six years with no new deposits.

Monthly deposits in real life

Many parents deposit a fixed amount every month rather than one lump sum in April. The calculator's monthly option adds up the twelve payments and treats them as one deposit at the start (or end) of the year. In a real account, a payment that arrives after the 5th misses that month's interest, and money paid in, say, January has only a few months left in the financial year to earn anything.

So if you deposit month by month, your actual sukanya samriddhi yojana deposit returns will usually be lower than the start-of-year estimate. To get closer to it, deposit on or before the 5th, and if you can, pay more of the year's amount early in the financial year. The deposit rules page explains the 5th-of-the-month rule and the ways to pay.

Why every result is only an estimate

The tool keeps one rate for all 21 years. In reality the government reviews the rate every quarter, and it has moved between 7.6% and 9.2% since the scheme began, as shown on the interest rate page. Any future change will change your final amount.

• The real account rounds interest to the nearest rupee each year, so passbook figures can differ by a few rupees.
• Missed years put the account in default. Reviving it costs a penalty of Rs 50 per missed year plus Rs 250 for each such year.
• Early closure or an education withdrawal reduces the balance that keeps compounding. See the withdrawal rules.

Treat the numbers as a guide for planning, not a promise. Before settling on an amount, check with the branch which rate applies this quarter.

Tax and what the maturity amount means

The maturity amount shown is the full balance you could receive, because SSY interest and maturity proceeds are tax-free. The deposit itself may also lower your taxable income, up to Rs 1.5 lakh together with other eligible items, but that benefit exists only under the old regime; choose the new default regime and the deposit gives no deduction. The calculator does not include any tax saving in its figures. Details are on the tax benefits page, and the overall scheme is explained on the home page.