Post Office Sukanya Samriddhi Yojana Calculator

Post Office Sukanya Samriddhi Yojana Calculator is an online tool designed to simplify financial planning for parents investing in their daughters' future. This calculator facilitates easy estimation of potential returns and helps in making informed decisions regarding savings under the Sukanya Samriddhi Yojana in the Post Office.

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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4.2 Crore

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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.

Post Office 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

What is the Post Office Sukanya Samriddhi Yojana Calculator?

The Post Office Sukanya Samriddhi Yojana (SSY) Calculator is a simple and easy-to-use financial tool that allows you to calculate the maturity amount you will receive by investing in the scheme.

Sukanya Samriddhi Yojana is a small savings scheme launched by the Government of India in 2015 as part of the Beti Bachao Beti Padhao campaign. The scheme is aimed at encouraging parents to save for the future education and marriage of their girl child.

Key Features for Using Sukanya Samriddhi Yojana Post Office Calculator

The government fixes certain eligibility criteria to invest in the Sukanya Samriddhi scheme. These criteria include:

Particulars	Details
Who can Apply	Only parents or the legal guardians of the girl child
Interest Rates	8.2% per annum for the financial year Q4 2023-24
Age Criteria	Girl child of less than 10 years of age
Citizenship	The girl child must be a citizen of India
No. of SSA Accounts	Maximum of 2 SSA accounts per family (Except in case of second girl child as twins or triplets).
Number of Accounts	Family Composition	Maximum Number of Accounts Allowed
	Single girl child	1
	Two girl child	2
	Single girl child + Twins	3
	Single girl child + Triplets	4
Contribution Period	Maximum 15 years
Maturity Period	Earlier of: 21 years or till the girl child's marriage after she attains the age of 18.
Minimum Deposit Amount	₹ 250
Maximum Deposit Amount	₹ 1.5 lakhs
Taxability	Tax deductions available under Section 80C of the Income Tax Act of 1961.
Online Account Opening	Not available; standing instructions can be set after account opening.

Working of Sukanya Samriddhi Yojana Calculator – Post Office

The Sukanya Samriddhi Yojana (SSY) Calculator is an online tool that helps you estimate the maturity amount of your investment in the SSY scheme. The calculator takes into account the following factors:

Investment amount
Interest rate
Tenure

Plan better with: SIP Calculator

Steps to Use Sukanya Samriddhi Yojana Calculator Post Office - 2024

Step 1: Go to the Post Office SSY Calculator available on this page.

Step 2: Enter the following information:

Investment amount
Interest rate
Tenure

Step 3: Click on the "Calculate" button.

Step 4: The calculator will display the maturity amount.

NOTE: Vary the values in the Post Office Sukanya Calculator to compare the maturity amount, make informed decisions about your investments, and reach your financial goals.

Illustration:

If you invest as per the following conditions:

Annual Investment Amount = Rs. 1,50,000
You pay for = 15 years
SSY current interest rate = 8.2%
Maturity period = 21 years

The maturity amount after 21 years of investment = Rs. 69.28 lakhs.

Key Advantages of Using Post Office Sukanya Samriddhi Yojana Calculator

There are many advantages attached to using the Post Office Sukanya Samriddhi Yojana Calculator; some of them are listed below:

Easy to use: The SSY calculator is easy to use and can be accessed by anyone.
Accuracy: It ensures precise calculations based on current interest rates and rules.
Planning: The calculator helps in effective financial planning by exploring various investment scenarios.
Free: The Post Office Sukanya Samriddhi Yojana Calculator is free to use.
Accurate: The SSY calculator is accurate and provides reliable results.
Time-saving: The calculator can save you time and effort.
Decision-making: The Post Office Sukanya Samriddhi Yojana Calculator empowers informed decisions regarding SSY investments.
Comparison: Allows comparison with other investment options for better decision-making.
Adjustments: Enables assessment of the impact of changing investment parameters.
Understanding Benefits: Enhances comprehension of SSY scheme benefits, especially compounding interest.

All these features make this calculator very useful and convenient for people who are thinking of investing in the scheme to secure the future of their girl child.

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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 *

Points to Consider Before Using Sukanya Samriddhi Calculator

When using the SSY Calculator to determine the final maturity amount, please consider the following:

Consistent Investment: The calculator assumes that the same amount will be invested yearly throughout the scheme.
Investment Period: Investments are made for the initial 15 years, with the remaining six years dedicated to interest gains only.
Constant Interest Rate: The rate of interest remains constant throughout the scheme, as it was at the time of investment.
Yearly Contributions: Contributions are made on a yearly basis.
No Withdrawals: There are no withdrawals during the scheme's entire duration.

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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Summing It Up

The Post Office Sukanya Samriddhi Yojana Calculator serves as a valuable tool for you if you seek to plan and manage your investments under the scheme efficiently. With its user-friendly interface and accurate calculations, it empowers you to make informed decisions and secure a bright future for your daughters.

Frequently Asked Questions

How to calculate Sukanya Samriddhi Yojana in the post office?

Use Policybazaar Post Office Sukanya Samriddhi Yojana to estimate your returns from the SSY scheme. You need to enter the investment amount, the girl's age, and the current year in the Sukanya Calculator.
Why should I use an SSY calculator?

The calculator helps you plan your finances better by showing the potential returns on your investment for your daughter's future.
What information do I need to use the SSY calculator?
Typically, you'll need to enter the following:
- Annual investment amount you plan to contribute
- Age of your daughter
- Year you plan to start investing
Can I make multiple calculations with the SSY calculator?

Yes, most calculators allow you to enter different investment amounts and ages to see how they impact the maturity value.
Which scheme is best for girl child in the post office?
Sukanya Samriddhi Yojana (SSY) is the best scheme to create a financial corpus for your girl child due to the following reasons:
- Attractive interest rate (8.2% in Q4 of 2023-24)
- Tax benefits (under Section 80C of the IT Act, 1961)
- Long-term savings for girl's future
- Maturity benefit
- Flexible deposits (min. Rs. 250)
Will my account be permanently closed if I failed to make the payment?

No, your account will not be closed but will be considered as a 'default account.' If you want to reactivate your account, you can do so by paying the penalty of rupees 50 for one year of payment lapse.
Can I withdraw money before the maturity of the SSY scheme?

Yes, in certain cases like terminal illness, death of the policyholder or the legal guardian of the girl child, for education and marriage of the girl. In these cases, premature withdrawal is allowed.
Where can I open an SSY account?

The facility to open the Sukanya Samriddhi account is available at every post office across India. One can visit the post office and complete all the required formalities with the concerned official and can start investing in the scheme. The facility is also provided by banks such as HDFC, PNB, SBI, etc.
Who will have the authority to manage the SSY account?

The parents or the legal guardian of the girl child have the authority to manage the account until the maturity period. Still, if the girl wants, she can also operate her account once she attained the age of 10 years.
Can Non-Residential Indian avail the facility of the SSY account?

No, as of now, the facility to open the SSY account lies only with Indian residents. The girl whose name the account is being opened must be an Indian citizen and should be less than the age of 10 years.
How many SSY accounts can be opened in a family?

One girl is allowed to have only one SSY account in her name. Parents or legal guardians can open a maximum of two accounts for each of their two-girl children. But there can be exceptions in the case of twins and triplets.
Do the interest rates on the SSY scheme change?

Yes, the interest rates on the SSY scheme keep changing. One needs to check the latest interest rate before making the investment to avoid any confusion. As of April 2021, the interest rate is 7.6% per annum.
Where Can I find the latest interest rate on the SSY scheme?

To find the prevailing interest rate on the SSY scheme, one can use the Post Office Sukanya Samriddhi Yojana calculator, which will help you calculate the accurate maturity amount on the basis of current interest rates.
What is the purpose of the SSY scheme?

Sukanya Samriddhi scheme was launched under Beti Bachao, Beti Padhao to secure the future of the girl child by allowing their parents or legal guardians to invest money annually on the name of their girl child and once the maturity of the scheme is completed, she can receive enough funds to manage her expenses.
What is the procedure to withdraw money after maturity?

One can directly withdraw the money from the SSY account after providing the required documents to the concerned authority. The documents such as identity proof of the parents or legal guardian, identity proof of the girl child, resident proof, etc.
Does it is allowed to transfer the SSY account from one place to another?

Yes, it is allowed to transfer the SSY account from one bank to another and from one post office to another, keeping in mind, that girl may move from place to place for her education or other reasons.
Can I take a loan against the SSY account?

No, there is no such facility available as of now to take a loan against the SSY account. SSY scheme is specifically designed to secure the future of the girl child by providing her financial upliftment.

†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.