How do I use the Canara Bank- SSY Calculator?

To use the SSY Calculator, enter the annual investment amount, the age of your girl child, and the year you plan to start investing. The calculator will then show you the total maturity amount and interest earned.

What is the minimum and maximum investment for the Canara Bank- SSY Scheme?

The minimum annual investment in an SSY account is â¹250, while the maximum is â¹1.5 lakh. Investments can be made in multiples of â¹50.

What is the interest rate for Sukanya Samriddhi Yojana- Canara Bank?

As of 2025, the interest rate for the Sukanya Samriddhi Yojana is 8.2% per annum, which is compounded annually.

Who can open a Canara Bank- Sukanya Samriddhi account?

A Canara Bank- Sukanya Samriddhi account can be opened by parents or legal guardians of a girl child who is below 10 years of age. Only one account can be opened per girl child.

What happens if I miss a yearly contribution?

If you fail to make a minimum contribution each year, your account may be considered inactive, and you will need to pay a penalty of â¹50 to reactivate it.

Canara Bank- Sukanya Samriddhi Yojana Calculator

The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme designed to promote the welfare of the girl child in India. Launched as part of the "Beti Bachao, Beti Padhao" campaign, this initiative allows parents or legal guardians to save for their daughter's future education and marriage. The Canara Bank - Sukanya Samriddhi Yojana Calculator is a useful tool that helps users estimate the maturity amount based on their investment.

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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7.7 Crore

Registered Consumer

Insurance Partners

4.2 Crore

Policies Sold

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 Canara Bank- Sukanya Samriddhi Yojana Calculator?

The Canara Bank - Sukanya Samriddhi Yojana Calculator is an online tool that allows users to calculate the expected returns from their investments in the SSY account. By entering specific details such as the annual investment amount, the age of the girl child, and the investment start year, users can easily determine:

Total investment over time
Interest earned
Maturity amount upon completion of the investment term

This SSY calculator simplifies financial planning for parents aiming to secure their daughter's future.

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 Sukanya Samriddhi Yojana Calculator- Canara Bank from Policybazaar?

Using the SSY calculator from Policybazaar is straightforward. Here is how you can use it:

Visit the Calculator Page: Go to the Canara Bank SSY Calculator available on this page.
Input Required Details:
- Enter the annual investment amount (minimum ₹250).
- Specify the age of your girl child.
- Select the starting year for your investment.
View Results: The calculator will display:
- Total Invested Amount
- Maturity Year
- Total Maturity Amount
- Total Interest Earned

This user-friendly interface ensures that even those unfamiliar with financial calculations can easily navigate it.

Example of Canara Bank- SSY Calculator

To illustrate how the Canara Bank- SSY calculator by Policybazaar works, consider this example:

Annual Investment: ₹50,000
Age of Girl Child: 5 years
Investment Start Year: 2025

Using these inputs, the calculator might show:

Parameter	Value
Total Investment	₹7,50,000
Total Interest Earned	₹16,44,020
Maturity Amount	₹23,94,020
Maturity Year	2045

This example helps parents visualize how their investments grow over time.

Overview of Canara Bank- Sukanya Samriddhi Yojana (SSY)

The Sukanya Samriddhi Yojana through Canara Bank offers several key features:

Interest Rate: Currently at 8.2% per annum.
Deposit Range: Minimum deposit of ₹250 and a maximum of ₹1.5 lakh per year.
Tenure: The account matures after 21 years or when the girl turns 18.
Tax Benefits: Contributions qualify for tax deductions under Section 80C of the Income Tax Act.

The SSY scheme not only encourages savings but also provides significant financial security for a girl child's future.

Invest More Get More

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 *

Who Can Use the Canara Bank- Sukanya Yojana Calculator in 2025?

The Canara Bank Sukanya Yojana calculator is available for any legal guardian or parent who meets these criteria:

The girl child must be an Indian resident.
The account must be opened before she turns 10 years old.
Only one account can be opened per girl child.

This ensures that families can effectively plan for their daughters' futures.

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 Canara Bank- SSY Calculator Help You?

The Canara Bank- SSY calculator aids in the following:

Financial Planning: Helps parents set realistic savings goals.
Investment Adjustments: Allows users to modify annual contributions based on desired maturity amounts.
Error Reduction: Minimizes calculation errors that can occur with manual computations.

By providing clear insights into potential returns, it empowers families to make informed decisions.

What are the Benefits of Using a Canara Bank- SSY Calculator by Policybazaar?

Using the Canara Bank- Sukanya Samriddhi Scheme calculator from Policybazaar offers several advantages:

User-Friendly Interface: Easy navigation and quick results.
Instant Calculations: Provides immediate feedback on potential returns.
Comprehensive Financial Planning Tool: Helps in strategizing investments effectively.

These benefits make it an essential resource for parents planning for their daughters' futures.

Conclusion

The Canara Bank - Sukanya Samriddhi Yojana Calculator is an invaluable tool for parents looking to secure their daughters' futures through smart savings and investments. By understanding how to use this calculator effectively, families can make informed decisions that align with their financial goals while taking advantage of government initiatives aimed at empowering girls in India.

FAQs

What is the Canara Bank - Sukanya Samriddhi Yojana Calculator?

The Canara Bank - Sukanya Samriddhi Yojana Calculator is an online tool that helps parents estimate the maturity amount of their investments in the Sukanya Samriddhi Yojana (SSY) based on inputs like annual contributions and the age of the girl child.
How do I use the Canara Bank- SSY Calculator?

To use the SSY Calculator, enter the annual investment amount, the age of your girl child, and the year you plan to start investing. The calculator will then show you the total maturity amount and interest earned.
What is the minimum and maximum investment for the Canara Bank- SSY Scheme?

The minimum annual investment in an SSY account is ₹250, while the maximum is ₹1.5 lakh. Investments can be made in multiples of ₹50.
What is the interest rate for Sukanya Samriddhi Yojana- Canara Bank?

As of 2025, the interest rate for the Sukanya Samriddhi Yojana is 8.2% per annum, which is compounded annually.
Who can open a Canara Bank- Sukanya Samriddhi account?

A Canara Bank- Sukanya Samriddhi account can be opened by parents or legal guardians of a girl child who is below 10 years of age. Only one account can be opened per girl child.
What happens if I miss a yearly contribution?

If you fail to make a minimum contribution each year, your account may be considered inactive, and you will need to pay a penalty of ₹50 to reactivate it.

†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.