Rate of Interest (2022)
Sukanya Samriddhi Yojana (SSY) is a Government of India initiative as a part of the Beti Bachao, Beti Padhao campaign. It’s a small savings scheme dedicated to the daughters of India who are below 10 years of age. The interest rate is decided and evaluated by the government every quarter. The current interest rate stands at 7.60% p.a.
The Sukanya Samriddhi Yojana calculator allows anyone who is considering investing in the Sukanya Samriddhi Yojana for their daughters to determine how much they would earn when the account matures. You could use the Navi Sukanya Samriddhi Yojana Calculator to view the returns in a quick, hassle-free and accurate way.
The Sukanya Samriddhi Yojana Calculator requires you to provide a few relevant information like your daughter’s age, amount of contribution and the investment year.
While calculating the maturity amount, the SSY calculator makes a number of assumptions:
You can use Navi’s Sukanya Samriddhi Yojana Calculator to check your SSY returns upon maturity. Here’s how Navi SSY Calculator works:
You can view the maturity amount and interest accrued on your investment using the SSY calculator. The formula for Sukanya Samriddhi Yojana is given as:
Compound interest = Principal amount (1 + Rate of interest / Number of times interest compounds in a year) * Number of years
For example, if you invest ₹10,000 each year in the Sukanya Samriddhi Yojana account, and start the investment when the girl child turns 1 year old in 2022, you would have invested ₹1,50,000 in total. The interest accrued on this would be ₹2,74,344. Upon maturity in 2043, the total amount the girl child would receive is ₹4,24,344.