The citizens of India can now use the Sukanya Samriddhi Yojana Calculator 2024 online. All the citizens of India who are Sukanya Samriddhi account holders can now visit the official website to calculate the maturity amount under the scheme online. The Sukanya Samriddhi Yojana is a government welfare scheme for all those citizens who are the parents of a girl child in India. The interest rate under the Sukanya Samriddhi Yojana is comparatively higher than any other savings bank account. Only the parents of a girl child who is below the age of 10 years are eligible to fill out the application form for the Sukanya Samriddhi Yojana.
What is Sukanya Samriddhi Yojana?
The Sukanya Samriddhi Yojana was launched by the central government of India back in 2015 under the initiative “Beti Bachao, Beti Padhao”. The main purpose of launching the Sukanya Samriddhi Scheme is to increase the habit of saving among the parents of girl children in India. Since the minimum deposit under the scheme is INR 250 any citizens of India who are financially weak can also avail of the benefits of the scheme. The maturity period of the account is 21 years or when the girl child gets married after turning the age of 18.
Key Highlights of Sukanya Samriddhi Yojana Calculator
| Key Highlights | Details |
| Name of the Scheme | Sukanya Samriddhi Yojana Calculator |
| Launched By | Government of India |
| Launch Date | 2015 |
| Announced By | Prime Minister of India |
| Purpose | Increase the habit of saving |
| Beneficiaries | Citizens of India |
| Target Beneficiaries | Parents of girl child |
| Advantage | Provide money to the girl child |
| Eligibility Criteria | Parents of girl child below the age of 10 years |
| Required Documents | Aadhaar Card, Bank account |
| Application Process | Online |
| Official Website | |
| Financial Commitment | |
| Expected Benefits | High interest rate |
| Contact Number | 1800 266 6868 |
Silent Features
- High interest rate: The central government of India will provide the interest rate on savings deposits under the scheme is comparatively higher than any other savings account.
- Lump sum money: With the help of this scheme the parents of a girl child can save a lump sum of money for the further education or marriage of their girl child after the age of 18 years.
- Tax-free– The maturity amount and the Tax amount that will be given to the parents of the girl child is completely tax-free.
- Flexibility: Since the minimum deposit amount under the scheme is INR 250 all the citizens of India even if they are financially unstable can avail the benefits of the scheme.
Also Read: Post Office Scheme for Women
Interest Rates
| Financial Year | Date Range | Interest Rate |
| 2014–15 | 1 April 2014 to 31 March 2015 | 9.1% |
| 2015–16 | 1 April 2015 to 31 March 2016 | 9.2% |
| 2016–17 | 1 April 2016 to 30 September 2016 | 8.6% |
| 2016–17 | 1 October 2016 to 31 March 2017 | 8.5% |
| 2017–18 | 1 April 2017 to 30 June 2017 | 8.4% |
| 2017–18 | 1 July 2017 to 31 December 2017 | 8.3% |
| 2017–18 | 1 January 2018 to 31 March 2018 | 8.1% |
| 2018–19 | 1 April 2018 to 30 September 2018 | 8.1% |
| 2018–19 | 1 October 2018 to 31 March 2019 | 8.5% |
| 2019–20 | 1 April 2019 to 30 June 2019 | 8.5% |
| 2019–20 | 1 July 2019 to 31 March 2020 | 8.4% |
| 2020–21 | 1 April 2020 to 31 March 2021 | 7.6% |
| 2021–22 | 1 April 2021 to 31 March 2022 | 7.6% |
| 2022–23 | 1 April 2022 to 31 March 2023 | 7.6% |
| 2023–24 | 1 April 2023 to 31 December 2023 | 8.0% |
| 2023–24 | 1 January 2024 to 31 March 2024 | 8.2% |
| 2024–25 | 1 April 2024 to 30 June 2024 | 8.2% |
SSY Interest Rate Calculation Formula
- The formula to calculate the Sukanya Samriddhi interest is A = P(1+r/n)^nt where-
- P = Initial Deposit
- r = Rate of interest
- n = Number of years the interest compounds
- t = Number of years
- A = Amount at maturity
What are the Minimum and Maximum Amounts?
- The minimum amount to deposit under the Sukanya Samriddhi Yojana is INR 250.
- The maximum amount to deposit under the Sukanya Samriddhi Yojana is INR 1.5 lakh.
What is the Maturity Period?
The maturity period of Sukanya Samriddhi’s savings account is 21 years or when the girl child gets married after achieving the age of 18.
Sukanya Samriddhi Yojana Calculator
Total investment: ₹
Total interest: ₹
Maturity year:
Maturity value: ₹
Procedure to Open Sukanya Samriddhi Yojana Account?
STEP 1: The procedure to open up a Sukanya Samriddhi Yojana account is very simple. All eligible citizens must visit the nearest post office or Bank branch.
STEP 2: After reaching the nearest post office or Bank branch the parents of the girl child must consult with the concerned government official and ask for the application form.
STEP 3: After receiving the application form the parents must start filling it up by entering all the details that are asked and attaching necessary documents like but certificate of the girl child, Aadhar Card, etc.
STEP 4: After entering all the details the parents can now submit the application form back to the government official along with the initial deposit amount which can be between INR 250 to INR 1.5 Lakh.
STEP 5: After successfully submitting the application form along with the initial deposit the parents will receive a password to record all the transactions.
Withdrawal Rules
- Higher Education- When the girl child reaches class 10th the parents are eligible to draw 50% of the maturity amount for the higher education of the girl child.
- Marriage- Once the girl child turns the age of 18 years and the parents decide to marry her the parents can withdraw 50% of the maturity amount to carry out the marriage expenses.
- Medical Emergency- If the girl child is in a life-threatening condition or one of the guardians passes away then premature closure of the account is allowed.
- Documentary Proof– Before withdrawing the amount under the Sukanya Samriddhi account the parents must have documentary proof like a marriage certificate or passing certificate of class 10th or above.
FAQs
Who is eligible to avail of the benefits of the Sukanya Samriddhi Yojana?
All the parents are legal guardians of a girl child who is below the age of 10 years and are eligible to open up an account under the Sukanya Samriddhi Yojana.
What is the current interest rate under the Sukanya Samriddhi Yojana?
The current interest rate under the Sukanya Samriddhi Yojana is 8.2%.
What is the formula to calculate the Sukanya Samriddhi amount?
The formula to calculate the Sukanya Samriddhi amount is A = P(1+r/n)^nt.