SSY Calculator 2018-19 Calculate Interest, Maturity and RoI
Sukanya Samriddhi Yojana (SSY) was launched, as a part of the "Beti Bachao Beti Padhao" campaign, with an objective to promote welfare of Girl Child. Sukanya Samriddhi Yojana is also a very good Tax Saving option for those who are eligible to open accounts under this scheme. Know more about SSY accounts.
Use SSY (Sukanya Samriddhi Yojana) Calculators for all SSY calculations viz. calculation of estimated / actual Interest, Maturity Amount and Return on Investment for accounts opened since launch of the scheme in any authorised bank or Post Office. The calculators have updated interest rates upto 1st October 2018.
The account is opened during 1st April to 10th April.
In case of Yearly investments, the investments are made during 1st April - 10th April every year, i.e. the investments qualify for interest for the whole year.
In case of Monthly investments, the investments are made during 1st - 10th of every month, i.e. the investments qualify for interest for the month of investment.
Current Interest rate is applied for all future interest calculations.
SSY Actual Interest and Yearly Balance calculator
This calculator does not make any presumptions regarding date and month of opening of account and date and / or month of making investment. Therefore, the calculations are exact and accurate. Use this calculator to check and verify calculation of Interest and Yearly Balance of your SSY account for any year since 2014-15 on year to year basis. A click or tap on "Calculate for Next Year" button will automatically carry over the Closing Balance of this year as Opening Balance for the next year, change Financial Year and applicable Interest Rate(s).
SSY account FAQs :
Click on Question to view / hide its content / answer.
Who decides SSY Interest rate?
The SSY interest rate is notified by Central Government from time to time for all authorised banks and post offices.
What is current SSY interest rate?
The current rate is 8.50% p.a. w.e.f. 01.10.2018.
What is history of SSY interest rates?
The SSY interest rates since launch of the scheme have been as under:
Up to 31.03.2015
01.04.2015 to 31.03.2016
01.04.2016 to 30.09.2016
01.10.2016 to 31.03.2017
01.04.2017 to 30.06.2017
01.07.2017 to 31.12.2017
01.01.2018 to 30.09.2018
How SSY interest is applied and compounded?
The interest is payable on minimum balance available in the account from 10th to last day of month. The interest is applied on last day of the financial year and is compounded at yearly rests.
What are tax benefits of investing in SSY account?
The investments under SSY upto prescribed limits are eligible for tax rebate under section 80C of Income Tax Act. The interest earned in SSY accounts is exempt from Income Tax.
What are risks of investing in SSY?
SSY (Sukanya Samriddhi Yojana) is a No Risk investment scheme.