Our Sukanya Samriddhi Account (SSA) Calculator is designed to help you plan and calculate the returns for this government-backed savings scheme specifically created for the girl child in India. Launched under the "Beti Bachao, Beti Padhao" campaign, SSA offers attractive returns with complete tax exemption.

How SSA Works: The Formula

The SSA calculation is based on annual deposits with compound interest. The unique feature of SSA is that you make deposits for 15 years, but the account matures after 21 years, allowing your money to grow for an additional 6 years without any deposits.

The formula for calculating SSA maturity amount is:

$A = P \times (1 + r)^6 \times \left( \frac{(1 + r)^{15} - 1}{r} \right)$

Where:

• A: The maturity amount after 21 years
• P: The annual deposit amount (minimum ₹250, maximum ₹1.5 lakh per year)
• r: The annual interest rate (currently 8.2% per annum, compounded annually)
• 15: Number of years for which deposits are made
• 6: Additional years for which the accumulated amount compounds without deposits (years 16-21)

For example, if you deposit ₹1.5 lakh annually for 15 years at 8.2% interest, your investment would be ₹22.5 lakh, but the maturity amount after 21 years would be approximately ₹65 lakh.

Using Our SSA Calculator: Step-by-Step Guide

1. Annual Deposit Amount: Enter your planned yearly contribution (between ₹250 and ₹1.5 lakh).
2. Interest Rate: The current rate is 8.2% per annum, but you can adjust this if you want to see projections with different rates.
3. The calculator automatically uses the 15-year deposit period and 21-year maturity period as per SSA rules.

Understanding Your SSA Calculator Results

• Total Amount Invested: The sum of all your annual deposits over 15 years.
• Interest Earned: The total interest accumulated over the 21-year period.
• Maturity Amount: The total value of your SSA account when it matures after 21 years.

Key Features of Sukanya Samriddhi Account

Eligibility Requirements:

• Account can be opened for a girl child below 10 years of age
• Only Indian residents are eligible
• Maximum 2 accounts per family (3 in case of twins/triplets)

Investment Details:

• Minimum annual deposit: ₹250
• Maximum annual deposit: ₹1.5 lakh
• Deposit period: 15 years from account opening
• Maturity period: 21 years from account opening
• Current interest rate: 8.2% per annum (revised quarterly by government)

Tax Benefits (Under Old Tax Regime):

• EEE (Exempt-Exempt-Exempt) status
• Deposits qualify for deduction under Section 80C (up to ₹1.5 lakh)
• Interest earned is completely tax-free
• Maturity amount is tax-free

Withdrawal Rules:

• Partial withdrawal (up to 50%) allowed after girl turns 18 for higher education
• Full withdrawal allowed at maturity (21 years) or upon marriage after age 18
• Premature closure only in case of life-threatening illness or death

Why Choose SSA?

• Government Guarantee: Backed by Government of India, ensuring complete safety
• High Returns: Among the highest interest rates for government savings schemes
• Tax Efficiency: Complete tax exemption makes it highly tax-efficient
• Financial Security: Builds a substantial corpus for girl child's education and marriage
• Disciplined Saving: Encourages long-term, disciplined savings for girl child's future

Our calculator helps you visualize how your regular annual deposits can grow into a significant amount, providing financial security for your daughter's future education and marriage expenses.