Who is eligible for SSY?

Only parents or legal guardians of a girl child can open an SSY account.

What is the minimum and maximum annual deposit in SSY?

The minimum annual deposit is â¹250, and the maximum is â¹1.5 lakh.

Can I withdraw money from the SSY account before maturity?

Partial withdrawals are allowed under specific conditions, such as for higher education expenses. However, these withdrawals are subject to certain rules and regulations.

What is the maturity period of an SSY account?

The maturity period of an SSY account is 21 years from the date of account opening.

Is the SSY Calculator accurate?

The SSY Calculator provides accurate estimates based on the input data and the current interest rate. However, future interest rate changes may affect the actual returns.

Is SSY tax-deductible?

No, SSY deposits are not tax-deductible. However, the interest earned on SSY investments is tax-free.

Where can I open an SSY account?

You can open an SSY account at various authorized banks and post offices.

Sukanya Samriddhi Yojana Calculator - Union Bank

The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme designed to secure your daughter's future. The Union Bank SSY Calculator is an online tool that helps you estimate the potential returns on your SSY 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

We are rated^~

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

Your Name

+91

Mobile Number

Your personal information is secure with us

By clicking on "View Plans" you agree to our Privacy Policy and Terms of use

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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 Sukanya Samriddhi Yojana Calculator - Union Bank?

The Union Bank SSY Calculator is an online tool that allows you to calculate the maturity amount of your SSY investment. By inputting key details like annual deposit, your daughter's age, and the starting year of the investment, you can get an estimate of the total amount you'll receive at maturity.

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 - Union Bank From Policybazaar?

Visit Policybazaar's Website: Access the Union Bank SSY Calculator given on the page above.
Enter Your Data:
- Input your desired annual deposit amount.
- Specify your daughter's current age.
- Select the starting year of the investment.
Pre-Filled Interest Rate: The current SSY interest rate will be pre-filled.
Calculate: Click on the 'Calculate' button to get the following results:
- Maturity amount
- Total investment
- Earned interest

Illustration of Sukanya Samriddhi Yojana Calculator - Union Bank

Let's consider an example:

Yearly Deposit: ₹1,50,000
Girl's Age: 8 years
Starting Year: 2025
Interest Rate: 8.2% (current rate)

The calculator will provide the following outputs:

Total Investment: ₹22,50,000
Total Interest Earned: ₹46,77,578
Maturity Year: 2045
Maturity Value: ₹69,27,578

Overview of Sukanya Samriddhi Yojana

Eligibility: Open to a girl child under 10 years of age.
Tenure: 21 years or until marriage after 18 years of age.
Minimum Deposit: ₹250 per year.
Maximum Deposit: ₹1.5 lakh per year.
Interest Rate: 8.2% per annum in 2025 (subject to change).

Who Can Use the SSY Calculator - Union Bank in 2025?

Union Bank SSY calculator can be a useful tool for:

Parents/Guardians: Planning for their daughter’s future expenses.
Financial Advisors: Assisting clients with SSY investment planning.
General Users: Exploring SSY benefits and returns.

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

View Plans

How Can SSY Calculator - Union Bank Help You?

Financial Clarity: Understand how much to save periodically.
Goal Setting: Set realistic financial targets for your daughter's future.
Scenario Analysis: Compare multiple savings plans to choose the best option.

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

Ease of Use: Simple and user-friendly interface.
Real-Time Results: Instant calculations based on provided data.
Customization: Adjust deposit amounts and other parameters for tailored results.
Accuracy: Reliable estimations for better financial planning.
Convenience: Accessible online, anytime, anywhere.

Conclusion

The Union Bank SSY Calculator is a valuable tool for parents and investors to plan for their daughter's future. By using this calculator, you can make informed decisions and ensure a secure financial future for your child.

FAQs

Who is eligible for SSY?

Only parents or legal guardians of a girl child can open an SSY account.
What is the minimum and maximum annual deposit in SSY?

The minimum annual deposit is ₹250, and the maximum is ₹1.5 lakh.
Can I withdraw money from the SSY account before maturity?

Partial withdrawals are allowed under specific conditions, such as for higher education expenses. However, these withdrawals are subject to certain rules and regulations.
What is the maturity period of an SSY account?

The maturity period of an SSY account is 21 years from the date of account opening.
Is the SSY Calculator accurate?

The SSY Calculator provides accurate estimates based on the input data and the current interest rate. However, future interest rate changes may affect the actual returns.
Is SSY tax-deductible?

No, SSY deposits are not tax-deductible. However, the interest earned on SSY investments is tax-free.
Where can I open an SSY account?

You can open an SSY account at various authorized banks and post offices.

†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.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^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.