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The SSY Calculator is an online tool that shows the interest earned and maturity amount on your SSY account.
The SSY account is a small savings scheme for girls.
(Representative Image)
Planning for your daughter’s future is one of the most thoughtful financial steps you can take. The Sukanya Samriddhi Yojana (SSY), a government-backed savings scheme, is designed to help parents save for their daughter’s education and marriage.
To understand how much you will earn and how much to invest, the SSY Calculator becomes a handy and reliable tool.
What Is Sukanya Samriddhi Yojana (SSY)?
SSY is a savings scheme introduced by the Government of India under the ‘Beti Bachao, Beti Padhao’ initiative. It allows parents or guardians to open an account in the name of a girl child below 10 years of age. The account can be opened in post offices and banks and offers an attractive interest rate (currently around 8.2 per cent as of 2025) with tax benefits under Section 80C of the Income Tax Act.
What Does the SSY Calculator Do?
An SSY Calculator is an online tool that helps you estimate the maturity amount you will receive at the end of the investment period. All you need to do is enter:
– Annual investment amount
– Daughter’s current age
– Expected duration of contribution (up to 15 years).
The calculator instantly shows:
– Total investment made
– Interest earned over the years
– The maturity amount when the girl turns 21.
It helps you plan how much to save yearly to meet your future goals.
The Sukanya Yojana calculator uses a compound interest formula:
A = P (1 + r/n) ^ nt
Where:
A = Final amount (maturity value)
P = Amount you invest (principal)
r = Interest rate
n = Times interest is added in a year
t = Number of years.
This formula helps show how your money grows over time with interest added regularly.
Example
If you invest Rs 1.5 lakh annually for 15 years, starting when your daughter is 3 years old, the calculator will show a maturity amount of over Rs 65 lakhs when she turns 21 (based on current rates).
Why Use the SSY Calculator?
Easy and Quick: You don’t need to do any manual calculations. Just enter the figures and get results instantly.
Goal-Oriented Planning: It helps set realistic savings goals for your daughter’s future needs.
Clarity on Returns: It provides a clear picture of how your money will grow with compounding interest over the years.
Adjustable Inputs: You can change the investment amount or the child’s age to see how it impacts the final amount.
It is important to keep in mind that the SSY Calculator is an easy tool that helps you plan and track savings for your daughter’s future. It shows how your money will grow in this safe, high-interest scheme.
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More
- Location :
Delhi, India, India
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