Sukanya Samriddhi Yojana |
|
| Eligibility | Girls below 10 years age |
| Interest rate | 8.5% (2019Q4) |
| How to open | Online |
| Investment amount | 250 INR to 1.5 lakh |
| Partial withdrawal | for higher education up to 50% |
| Premature closing | for marriage after 18 years |
| Maturity / Lock-in Period | till the girl’s age of 21 |
| Tax Benefits | 1.5 lakh under section 80C |
How SSY Account Works?
The parents have to pay the Premium until Girl age reaches 14 years. after 7 Years waiting period (Interest accumulated monthly) withdraw at after attaining girls age 21 years. Total Income Fully Tax-Free.
How To Open SSY Account?
Unfortunately, There is No Online Account Opening Facility Available, But You have to download the SSY Application Form. from RBI.
Visit any Nearest Post Office or participating bank Along with KYC ID & Address proof of parent.
Child Birth Certificate as Age Proof, submit Documents, Make Minimum payment, choose Options either Pay monthly / Yearly, etc.
How to revive / Reactivate Sukanya Samriddi Yojana Account?
the penalty of Rs.50 if a minimum amount of Rs. 250.
15 years assuming 8% per annum rate of interest = Rs. 28.32
SSY Tax Benefits
- Invested amount up to 1.5 lakh every year.
- Withdrawal amount fully tax-free.
SSY Return calculation
EX:
Monthly investment: 10,000 maximum limit 12,500.
interest compounded monthly – added at the end of each month)
| Year | Year Deposits | Year Interest | Total Deposits | Total Interest | Balance |
| 1 | ₹120,000.00 | ₹5,329.26 | ₹120,000.00 | ₹5,329.26 | ₹125,329.26 |
| 2 | ₹120,000.00 | ₹15,731.52 | ₹240,000.00 | ₹21,060.78 | ₹261,060.78 |
| 3 | ₹120,000.00 | ₹26,997.17 | ₹360,000.00 | ₹48,057.95 | ₹408,057.95 |
| 4 | ₹120,000.00 | ₹39,197.86 | ₹480,000.00 | ₹87,255.81 | ₹567,255.81 |
| 5 | ₹120,000.00 | ₹52,411.21 | ₹600,000.00 | ₹139,667.02 | ₹739,667.02 |
| 6 | ₹120,000.00 | ₹66,721.25 | ₹720,000.00 | ₹206,388.27 | ₹926,388.27 |
| 7 | ₹120,000.00 | ₹82,219.03 | ₹840,000.00 | ₹288,607.30 | ₹1,128,607.30 |
| 8 | ₹120,000.00 | ₹99,003.10 | ₹960,000.00 | ₹387,610.40 | ₹1,347,610.40 |
| 9 | ₹120,000.00 | ₹117,180.25 | ₹1,080,000.00 | ₹504,790.66 | ₹1,584,790.66 |
| 10 | ₹120,000.00 | ₹136,866.10 | ₹1,200,000.00 | ₹641,656.75 | ₹1,841,656.75 |
| 11 | ₹120,000.00 | ₹158,185.86 | ₹1,320,000.00 | ₹799,842.61 | ₹2,119,842.61 |
| 12 | ₹120,000.00 | ₹181,275.15 | ₹1,440,000.00 | ₹981,117.76 | ₹2,421,117.76 |
| 13 | ₹120,000.00 | ₹206,280.84 | ₹1,560,000.00 | ₹1,187,398.59 | ₹2,747,398.59 |
| 14 | ₹120,000.00 | ₹233,361.98 | ₹1,680,000.00 | ₹1,420,760.58 | ₹3,100,760.58 |
Base amount: ₹0.00
Interest Rate: 8%
Effective Annual Rate: 8.3%
Calculation period: 14 years
After 14 years with 7 Years
interest compounded monthly – added at the end of each month)
| Year | Year Interest | Total Interest | Balance |
| 1 | ₹257,361.60 | ₹257,361.60 | ₹3,358,122.18 |
| 2 | ₹278,722.48 | ₹536,084.08 | ₹3,636,844.66 |
| 3 | ₹301,856.31 | ₹837,940.40 | ₹3,938,700.98 |
| 4 | ₹326,910.24 | ₹1,164,850.64 | ₹4,265,611.22 |
| 5 | ₹354,043.63 | ₹1,518,894.26 | ₹4,619,654.84 |
| 6 | ₹383,429.07 | ₹1,902,323.34 | ₹5,003,083.92 |
| 7 | ₹415,253.50 | ₹2,317,576.83 | ₹5,418,337.41 |
Base amount: ₹3,100,760.58
Interest Rate: 8%
Effective Annual Rate: 8.3%
Calculation period: 7 years