Sukanya Samriddhi Yojana (SSY) is a small deposit scheme for girl child, launched as a part of the 'Beti Bachao Beti Padhao' campaign. The scheme provides undernoted benefits to the investors :
Use this calculator for easy calculation of estimated SSY Interest, SSY Maturity Amount and SSY Return on Investment for Fixed Monthly Investment / Fixed Yearly Investment / Variable Yearly Investment / Variable Yearly - Monthly Investment modes in SSY (Sukanya Samriddhi Yojana / Scheme) accounts. The calculators have up-to-date Interest rates and can be used for SSY accounts in all authorised banks and Post Offices. You may also use calculator for calculation of Actual Interest and Yearly Closing Balance for any mode of investment on year to year basis.
|Chart : Year-wise Growth in SSY Account|
|Presumptions made in calculations : View|
Use this calculator to calculate the exact amount of yearly Interest and Closing Balance of your SSY account on year to year basis for any investment mode. A click or tap on "Calculate for Next Year' button will automatically carry over the Closing Balance of this year as Opening Balance for the next year, change Financial Year and applicable Interest Rate(s).
|Financial Year||Interest Rate||Financial Year||Interest Rate|
|Up to 31.03.2015||9.1 %||01.04.2015 to 31.03.2016||9.2 %|
|01.04.2016 to 30.09.2016||8.6 %||01.10.2016 to 31.03.2017||8.5 %|
|01.04.2017 to 30.06.2017||8.4 %||01.07.2017 to 31.12.2017||8.3 %|
|01.01.2018 to 30.09.2018||8.1 %||01.10.2018 onwards||8.5 %|
The account may be opened by the natural or legal guardian in the name of a girl child from the birth of the girl child till she attains the age of ten years. A depositor cannot open multiple or more than one account in the name of a Girl Child. Natural or legal guardian of a girl child shall be allowed to open the account for two girl children only.
SSY accounts can be opened at at designated branches of State Bank of India and other authorised banks, all Head Post Offices and other designated Post Offices.
The account may be opened with an initial deposit of ₹ 250 ( reduced from ₹ 1000/- ) rupees and thereafter any amount in multiple of one hundred rupees may be deposited subject to the condition that a minimum of ₹ 250 ( reduced from ₹ 1000/- ) shall be deposited in a financial year.
A maximum of Rs. 1.50 lac can be deposited in a year in a SSY account.
Deposits in an account may be made till completion of fourteen years, from the date of opening of the account.
SSY interest rate is notified by the Central Government from time to time. The Interest rate notified by the Central Government is applicable to all authorised Banks and Post Offices. The current interest rate is 8.1% per annum.
SSY Interest for a month is calculated at prevailing notifed rate ( current rate 8.1% ) on the minimum balance available in PPF account from 10th of a month to the last date of the month. PPF interest is applied at year end and is compounded yearly.
SSY account mature on completion of twenty-one years from the date of opening of the account (provided that where the marriage of the account holder takes place before completion of such period of twenty one years, the operation of the account is not permitted beyond the date of her marriage).