Sukanya Calculator
Thinkforu.org Sukanya Samriddhi Yojana Calculator
Plan your daughter's secure future with precision
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Complete Guide to Sukanya Samriddhi Yojana
What is Sukanya Samriddhi Yojana?
Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme for girl children in India. It offers one of the highest interest rates among all government schemes and comes with tax benefits under Section 80C.
Key Features
- Account can be opened for girls below 10 years
- Minimum deposit: ₹250/year
- Maximum deposit: ₹1,50,000/year
- Interest rate: 8.0% (FY 2023-24)
- 15-year lock-in period
- Tax benefits under Section 80C
Example Calculation
If you invest ₹1,50,000 yearly for a newborn daughter:
- Total Investment: ₹21,00,000
- Interest Earned: ₹24,57,235
- Maturity Amount: ₹45,57,235
Frequently Asked Questions
Who can open a Sukanya Samriddhi Account?
Parents or legal guardians can open an SSY account for a girl child until she turns 10 years old. Only one account is allowed per girl child, with a maximum of two accounts in a family.
What is the maturity period of SSY?
The account matures after 21 years from the date of opening. However, deposits are only required for the first 15 years.
Can I withdraw money before maturity?
Partial withdrawal up to 50% of the balance is allowed after the girl child turns 18, for higher education purposes. Full withdrawal is allowed after maturity or for marriage after turning 18.
What are the tax benefits?
Investments up to ₹1.5 lakh per year qualify for tax deduction under Section 80C. The interest earned and maturity amount are completely tax-free.