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How is Sukanya Samriddhi Yojana Interest calculated?

How about an account that financially fortifies your girl child’s future?  That’s Sukanya Samridhhi Yojana (SSY) for you. The Yojana was launched on 22nd January 2015 by the Government of India under the “Beti Bachao Beti Padhao” campaign. Sukanya Samridhhi Yojana is a girl child prosperity scheme—a savings account that helps you pay for your daughter’s higher education or marriage. Deposit a minimum of Rs.250 and you can earn up to 7.60%.

More on Sukanya Samridhhi Yojana

  1. Age-wise important year-marks:
  • 0-10 years: year-mark for opening the Sukanya Samriddhi Account. The age of the girl child should not be more than 10 years.
  • 5 years: Year-mark that allows the first premature closure of the account.
  • 10 years: Your girl child is now eligible to operate the account on her own.
  • 15 years: In order to keep the account going, it is compulsory to deposit money for the initial 15 years.
  • 18 years: Year-marks the second withdrawal, which is up to 50% of the corpus.
  • 21 years: Year-marks the total tenure of the account.
  1. Maximum deposit: Rs.1,50,000
  2. Lock-in period: 8 years (entry age is excluded)
  3. Tenure: 21 years
  4. Who is allowed to open the account: Parents of the girl child on behalf of her
  5. Account opening procedure: Download the RBI authorised Sukanya Samridhhi application opening form or get it from a prescribed bank or post office.
  6. Payment mode: Cheque or demand draft
  7. Documents required: 
  • KYC documents 
  • Daughter’s birth certificate
  •  Photo ID proof of the daughter and the parent/ legal guardian
  •  Two photographs of your daughter
  1. Tax benefits: Non-taxable under Section 80C
  2. Financers to approach: 28 banks and post office

Sukanya Samriddhi Yojana Calculator

You can calculate Sukanya Samridhhi Yojana interest using the Sukanya Samridhi Yojana calculator. The calculator also calculates the corpus your daughter is entitled to at the end of the tenure. This utility tool is basically a formula box where you punch in details like amount deposited, age of the beneficiary, etc. Based on the data provided by you, the calculator displays both the interest and the maturity amount.

Step-by-step guidance to use the online calculator

Here’s how to use the calculator:

  • Type in the deposit amount (not exceeding Rs.1,50,000)
  • Enter your daughter’s age in years (not exceeding 10 years)
  • Choose the investment starting year
  • Choose the duration of the investment

Once you provide these data, the calculator will show you:

  • The age of your daughter at the time of the maturity of the account
  • The year your investment will get matured
  • The maturity amount
  • The interest generated

The mathematical formula

The online calculator displays the interest and the corpus generated on the maturity of your SSY account just by entering the required data. But how does the mathematical formula work? Read through to get an idea:

 A = P(1+r/n)^nt 

Where A = compound interest 

P = Initial Deposit 

r = Rate of interest 

n = Number of time the interest is compounded 

t = Number of years 

Click to know more about SSY Interest Rate


The Sukanya Samridhhi Yojana account is an investment that offers multiple benefits. It secures your daughter’s future in terms of her higher education and marriage, offers one of the highest interest rates and guarantees tax exemption.  The interest generated from the investment is tax-free as well. Sukanya Samriddhi Yojana calculator shows a consolidated account of your investments and returns. With the help of the SSY scheme, the “Beti Bachao Beti Padhao” campaign has gathered speed.


Published by Nidhi Mehra

I am blogger with 5 years of experience in writing articles and topics related to finance and funds

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