The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme in India specifically for girl children. You can use an SSY calculator to estimate the potential maturity amount and total interest earned on your investments in this scheme.

Here’s a breakdown of how an SSY calculator works and where to find them:

How it works:

• Inputs:
  • Investment amount: The annual amount you plan to invest in your daughter’s SSY account.
  • Investment tenure: The duration for which you intend to invest, up to a maximum of 15 years from the account opening date.
  • Girl’s age: The age of the girl child at the time of account opening (must be below 10 years).
  • Current interest rate: The prevailing interest rate offered on SSY accounts (currently 8.2%).
• Output:
  • Maturity amount: This represents the total amount you will receive at the end of the investment period, including your total contributions and the accrued interest.
  • Total interest: This shows the total interest earned on your SSY investments over the chosen tenure.

Important factors to consider:

• SSY calculators provide estimates, and actual returns may vary slightly due to rounding during calculations.
• There are limitations on the annual investment amount (minimum Rs. 250 and maximum Rs. 1.5 lakh).
• Partial withdrawals are allowed after your daughter turns 18 years old.