What is the BOI Sukanya Samriddhi Yojana Calculator?

The BOI Sukanya Samriddhi Yojana Calculator is an online tool that helps users estimate the maturity amount of their investments in the Sukanya Samriddhi Yojana scheme offered by the Bank of India.

Who can use the BOI SSY Calculator?

Anyone interested in saving for a girl child's future can use the calculator, including parents, guardians, and financial planners.

What information do I need to use the calculator?

You will need to provide details such as the initial deposit amount, monthly contributions, investment duration (in years), and the expected interest rate.

How does the calculator determine the maturity amount?

The calculator uses a formula for compound interest to calculate how much your investments will grow over time based on your inputs.

Is there a fee to use the BOI SSY Calculator?

No, using the BOI Sukanya Samriddhi Yojana Calculator is completely free of charge.

Can I change my inputs after calculating?

Yes, you can adjust any of your inputs and recalculate them to see how different amounts affect your total maturity.

What is the current interest rate for SSY?

As of now, the Sukanya Samriddhi Yojana interest rate is approximately 8.2% per annum, but this may vary based on government updates.

Sukanya Samriddhi Yojana Calculator Bank of India

The Sukanya Samriddhi Yojana Calculator- Bank of India is a tool to help you plan your investments and future returns from the SSY Scheme. The SSY scheme is a government-backed savings scheme that allows you to easily plan for your daughter’s education and marriage expenses while providing you with tax benefits.

Investing in your child's future:A wise decision & a loving choice

Benefits of Investing In Child Plan

Waiver of Premium Benefit

Future Premiums are paid by the insurer upon death of policyholder

Flexible Payout Options

Your premiums help your child achieve their dreams through lump sum or regular payouts

Wealth Boosters

Get rewarded with Wealth Booster and Loyalty Bonus for staying invested with us

Zero Commission

We charge no commission when you buy from us. Also buy online & get extra

Tax Benefits^

You get tax benefits under Section 80(C) and no tax on returns under Section 10 (10D)

Investment Flexibility

It offers the flexibility to invest at regular intervals or as a one-time contribution

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Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr^# Tax-Free* on Maturity

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We are rated^~

7.7 Crore

Registered Consumer

Insurance Partners

4.2 Crore

Policies Sold

Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

What is the Bank of India- Sukanya Samriddhi Yojana Calculator?

The Bank of India (BOI) Sukanya Samriddhi Yojana Calculator is an online tool designed to help account holders and potential investors calculate the maturity amount of their SSY investments. This calculator simplifies the process of estimating returns based on different investment scenarios, making it easier for parents to understand how much they need to save to achieve their financial goals for their daughters.

Sukanya Samriddhi Yojana Calculator

Latest SSY Interest Rate = 8.2%

Yearly Investment

You can invest maximum upto ₹1,50,000

₹

Girl's Age

Maximum age should be 10 years

Yrs

Start Year

Investment term is 21 years

Total Investment

Total Interest

Total Investment

Total Interest

Maturity Year

Maturity Value

Amount you will get

Explore Tax Saving Funds

How to Use Bank of India- Sukanya Samriddhi Yojana Calculator from Policybazaar?

To use the Bank of India Sukanya Samriddhi Yojana Calculator from Policybazaar, follow these steps:

Visit Policybazaar's Website: Go to the BOI SSY Calculator on this page.
Insert Your Data:
- Enter your yearly deposit amount.
- Specify the girl’s current age.
- Select your starting year.
- The SSY interest rate is pre-filled at 8.2% in 2025.
Calculate: The SSY Calculator will automatically show your total investment, total interest earned, maturity year, and estimated maturity amount.

Illustration of Sukanya Samriddhi Yojana Calculator- Bank of India

Let us say you want to calculate the maturity amount based on these parameters:

Yearly Deposit: ₹1,50,000
Girl’s Age: 6 years
Starting Year of Investment: 2025
Interest Rate: 8.2%

Based on these inputs, the BOI SSY Calculator by Policybazaar will show you the following results:

Total Investment: ₹22,50,000
Total Interest Earned: ₹49,32,101
Maturity Year: 2045
Maturity Value: ₹71,82,101

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Invest ₹10K/Month YOU GET ₹1 Crores^* For Your Child View Plans

Invest ₹8K/Month YOU GET ₹80 Lakhs^* For Your Child View Plans

Invest ₹5K/Month YOU GET ₹50 Lakhs^* For Your Child View Plans

Standard T&C Apply *

Overview of Sukanya Samriddhi Yojana (SSY)

The Sukanya Samriddhi Yojana was launched as part of the Beti Bachao Beti Padhao campaign. Here are some key features:

Eligibility: The account can be opened for a girl child up to the age of 10 years.
Tenure: The account matures after 21 years from the date of opening or upon marriage after the age of 18.
Maximum Deposit: ₹250 per year.
Maximum Deposit: ₹1.5 lakh per year.
Interest Rate: The interest rate is set by the government and is currently 8.2% per annum (subject to change).

Who Can Use the SSY Calculator- Bank of India in 2025?

The BOI Sukanya Samriddhi Yojana Calculator is accessible to:

Parents and Guardians: Those looking to invest in the SSY for their daughters.
Financial Planners: Professionals assisting clients in planning for children's education and marriage.
Individuals Seeking Information: Anyone interested in understanding potential returns from the SSY scheme.

Unique Triple Benefit

Future premiums paid by insurer on parent's death

Monthly income to fund child's education on parent's death

Lumpsum payout to family on parent's death

Returns

Return as of Apr 2024
12%-15%
8.2%
7.1%

Availability

Availability
Girl Child or Boy Child
Girl child only
Girl Child or Boy Child

Max Entry Age
Upto 18 years
Upto 10 years
No Age Limit

Flexibility

Invested Amount can be Withdrawn after
5 years
21 years
15 years

Conditions for Premature closure
Anytime after 5years
Extreme Compassionate Grounds
Serious Ailments or for education

Penalty on Premature Closure
No Penalty after 5 years
Returns reduced to Post Office Savings rate
1% reduction in interest rate

Max deposit amount in an year
No Limit
1.5 Lacs
1.5 Lacs

Documentation

Documentation Required for Withdrawal
Low
High
Low

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How Can the SSY Calculator for Bank of India Help You?

The BOI SSY Calculator can assist users in several ways:

Financial Planning: Helps determine how much to save monthly or annually to reach specific financial goals.
Investment Comparison: Users can compare different investment scenarios and interest rates.
Goal Setting: Aids in setting realistic savings targets based on expected returns.

What are the Benefits of Using a BOI SSY Calculator by Policybazaar?

User-Friendly Interface: Easy to navigate, allowing users to input data without hassle.
Real-Time Calculation: Provides instant results based on the entered parameters.
Customizable Inputs: Users can adjust variables such as initial deposit, monthly contributions, and tenure.
Accuracy: Ensures precise calculations based on real-time data.
Convenience: Available online, making it easy for anyone to access and use.
Enhanced Planning: Facilitates better financial planning by providing insights into potential returns.

Conclusion

Using the Sukanya Samriddhi Yojana Calculator- Bank of India is straightforward and provides valuable insights into your savings plan for your daughter's future. By adjusting different parameters, parents can visualize how their investments can grow over time and make informed decisions about their financial planning.

FAQs

What is the BOI Sukanya Samriddhi Yojana Calculator?

The BOI Sukanya Samriddhi Yojana Calculator is an online tool that helps users estimate the maturity amount of their investments in the Sukanya Samriddhi Yojana scheme offered by the Bank of India.
Who can use the BOI SSY Calculator?

Anyone interested in saving for a girl child's future can use the calculator, including parents, guardians, and financial planners.
What information do I need to use the calculator?

You will need to provide details such as the initial deposit amount, monthly contributions, investment duration (in years), and the expected interest rate.
How does the calculator determine the maturity amount?

The calculator uses a formula for compound interest to calculate how much your investments will grow over time based on your inputs.
Is there a fee to use the BOI SSY Calculator?

No, using the BOI Sukanya Samriddhi Yojana Calculator is completely free of charge.
Can I change my inputs after calculating?

Yes, you can adjust any of your inputs and recalculate them to see how different amounts affect your total maturity.
What is the current interest rate for SSY?

As of now, the Sukanya Samriddhi Yojana interest rate is approximately 8.2% per annum, but this may vary based on government updates.

†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan.
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
#The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CARG 8%; ₹50,45,591 @ CAGR 4%
+Returns Since Inception of LIC Growth Fund
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
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^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.