SSY Calculator

Sukanya Samriddhi Yojana (SSY) is a government savings plan designed especially for girl children under the age of 10. SSY is not just a savings scheme; it is a way to fuel their passions and dreams. Parents or guardians can open an SSY account with a minimum deposit of Rs.250. In a family, at most two accounts can be opened for two girls (if the second one is a twin, then 3). Every contribution qualifies for tax deduction. The SSY adventure unfolds over 21 years. Along this journey, the Sukanya Samriddhi Yojana account grows with a competitive interest rate, compounding annually. When the girl child turns 18, a part (50%) of the SSY amount can be withdrawn for special purposes like education. If she decides to marry, the SSY account can be closed prematurely. In essence, Sukanya Samriddhi Yojana is not just an investment plan; it is a savings journey, ensuring that the little ones have the resources they need for a future full of dreams and adventures.

A = P * (1 + r/n) ^ (n*t), where I = A - P

a) Calculate the SSY maturity amount. b) Determine the yearly contribution amount to get the desired corpus. c) Compare returns to other investment options for a girl child. d) Understand the SSY scheme eligibility, contribution limits, tax benefits, and withdrawal rules.