Sukanya Samriddhi Yojana Calculator Online

Sukanya Samriddhi Yojana Calculator Online

Times have changed, and today women are more empowered than ever before. However, much work still needs to be done to improve conditions for women and girls. Keeping this need in mind, the Government of India has introduced the Sukanya Samriddhi Yojana (SSY) scheme. The scheme aims to provide the girl child with a means to enjoy a secure future.

Under the scheme, you can open a Sukanya Samriddhi Yojana Account for your girl child and use the invested amount for her higher education or marriage. You can also enjoy benefits like attractive interest rates and tax benefits under Section 80C of the Income Tax Act, 1061. You can continue to deposit funds in the account till 14 years from account opening are completed. The maturity period is either 21 years from the date of opening the account or till the girl child becomes18 years of age.

HDFC Bank supports the Government's endeavour to empower women and enables you to open a Sukanya Samriddhi Yojana Account. HDFC Bank also allows you to plan your investments ahead of time by using the free Sukanya Samriddhi Yojana Calculator available online. 

Sukanya Samriddhi Calculator

Since investing in an SSY Account is a long-term affair, it is wise to plan the investments ahead of time and the Sukanya Samriddhi Yojana Calculator is a great way to start planning. You might want to know how much you will invest each year, how the interest earned will pan out, and calculate the maturity amount. To that end, you can count on the SSY Calculator.

Firstly, to use the Sukanya Samriddhi Yojana Calculator, you must ensure that you meet the scheme eligibility criteria. Legal guardians of girl children can open an SSY Account if the following conditions are fulfilled:

  • The girl child is an Indian resident.
  • The girl child's age should not exceed 10 years.
  • A family with two girl children can open up to two accounts.

One of the requirements for enjoying the benefits of an SSY Account is that you have to make a minimum of a single contribution per financial year till 14 years are completed. Thus, you will earn interest on the amount invested in the account. Your maturity amount will consist of both the principal amount along with interest earned. The SSY calculator can prove to be invaluable here in planning your finances

With the Sukanya Samriddhi Yojana Calculator you can calculate the interest earned with ease. You can also do so via a manual formula as given below:

A = P (1 + r/n) ^ nt

Wherein A is compound interest, P is the principal amount, r is the rate of interest, n is the number of times the interest compounds in a year, and t is the tenure in years.

As you can see, the calculation involves compounding interest and can get complicated. To avoid errors and ensure you get quick and accurate results, you can rely on the SSY Calculator.

To use the SSY Calculator, you simply have to enter details such as the amount invested every year, the age of the girl child, and the starting year of the investment. The Sukanya Samriddhi Yojana Calculator will conduct the calculations and display results within seconds!

Using the HDFC Bank SSY Calculator has the following advantages:

  • It is available online, and you can access it for free.
  • It is easy to use and requires no technical knowledge or expertise.
  • It provides error-free results enabling you to rely on the figures displayed.
  • It conducts calculations rapidly and displays results within seconds.
  • You can use the calculator multiple times if required.
  • It is up-to-date with prevailing interest rates and scheme changes.


Can I open 2 Sukanya Samriddhi Yojana accounts?

You can only open two SSY Account if you are the parent or legal guardian of 2 girl children. The Sukanya Samriddhi Yojana Calculator can be used in two instances in this situation.

Can parents withdraw money from the Sukanya Samriddhi Yojana account?

Parents can opt for premature withdrawal from an SSY Account. However, since the money can only be used for the girl child's marriage or higher education, such partial withdrawal is only possible after she has reached 18 years of age. Prior to that, parents will not be able to withdraw money from an SSY Account. Therefore careful planning of finances is key, and the Sukanya Samriddhi Yojana Calculator can help you in this regard.

What is the maturity period of an SSY account?

While you can withdraw funds from an SSY Account after the girl child reaches the age of 18, the maturity period for the account is set at 21 years from the date of opening the account. Using the SSY Calculator can help you map out your immediate financial situation and aid in planning for the financial future of the girl child in question.

Can an SSY account be closed before maturity?

Yes, you can close an SSY Account prematurely, but only after the girl child in question reaches the age 18 years or gets married be closed in case of the death of the account holder or other extreme compassionate grounds. Even then, it cannot be closed before 5 years from the date of opening the account.

Is there any tax benefit of Sukanya Samriddhi Yojana?

Yes, you can avail of tax exemptions and benefits if you hold an SSY Account. According to Section 80C of the Income Tax Act, an SSY Account holder can avail of tax benefits up to ₹ 1.5 lakh on contributions made towards the scheme. In addition, the interest earned via the SSY scheme is tax-exempt. Purely from a taxation perspective, considering an investment in the Sukanya Samriddhi Yojana via the SSY Calculator can help you safeguard generational wealth for the girl child.