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15 Years
21 Years
8.2%
Maturity Amount
3,72,272
Who can use this calculator?
The Sukanya Samriddhi Yojana Calculator is useful for those planning for their daughter's future. Whether you’re a parent or guardian of a girl child, the SSY Calculator is designed to help you plan and understand the potential growth of your savings.
How can the SSY Calculator help you?
Using the SSY Calculator can significantly simplify the process of planning your investments. By entering the deposit amount and the number of deposits per year, you can quickly estimate the maturity amount.
This helps in understanding how much to invest each year to achieve the desired financial goals. This SSY Calculator portrays how investments grow over time, allowing you to adjust contributions as needed.
It also helps compare different investment scenarios. This ensures you can make the best choices for your financial planning.
How does the SSY Calculator work?
The Sukanya Samriddhi Yojana Calculator operates using a mathematical formula to calculate the maturity amount based on the principal investment, interest rate and investment duration.
The formula used is: A = P (1 + r/n) n * t
where:
- A = Amount at maturity
- P = Initial deposit
- r = Rate of interest
- n = Frequency of compounding per year
- t = Number of years
Advantages of using the Sukanya Samriddhi Scheme calculator
- Convenience: This online tool delivers quick answers, eliminating manual calculation delays.
- Accuracy: The SSY Calculator produces error-free outputs. You can rely on these figures for optimum financial planning.
- Test out multiple scenarios: You can test different investment amounts and frequency and check how these changes affect the maturity amount.
- Up-to-date information: The calculator incorporates current interest rates and scheme changes, ensuring that you have the most relevant data output.
- Financial planning: You can better strategise your contributions by visualising potential returns and plan for your daughter's education and marriage.
Disclaimer
Axis Bank does not guarantee the accuracy, completeness or correct sequence of any of the details provided therein and therefore no reliance should be placed by the user for any purpose whatsoever on the information contained / data generated herein or on its completeness/accuracy. The use of any information set out is entirely at the User's own risk. Users should exercise due care and caution (including if necessary, obtaining advice from tax/ legal/ accounting/ financial/ other professionals) before taking any decision, acting or omitting to act, based on the information contained / data generated herein. Axis Bank does not undertake any liability or responsibility to update any data. No claim (whether in contract, tort (including negligence) or otherwise) shall arise out of or in connection with the services against Axis Bank. Neither Axis Bank nor any of its agents or licensors or group companies shall be liable to the user/any third party, for any direct, indirect, incidental, special or consequential loss or damages (including, without limitation loss of profit, business opportunity or loss of goodwill) whatsoever, whether in contract, tort, misrepresentation or otherwise arising from the use of these tools/ information contained/data generated herein.
Frequently Asked Questions
You can open two SSY Accounts if you are the parent or legal guardian of two girl children.
Parents can withdraw funds from the SSY Account for the girl's higher education or marriage after she turns 18 years old.
The maturity period for an SSY Account is 21 years from the date of opening.
An SSY Account can be closed prematurely after the girl turns 18 or under special circumstances, but not before 5 years.
Yes, contributions to the Sukanya Samriddhi Yojana qualify for tax deductions under Section 80C of the Income Tax Act. The interest earned is tax-exempted.
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