Sukanya Samriddhi Yojana – Calculating Maturity Value after 21 Years

by Shiv Kukreja on March 9, 2015

in Investments

This post is written by Shiv Kukreja, who is a Certified Financial Planner and runs a financial planning firm, Ojas Capital in Delhi/NCR. He can be reached at skukreja@investitude.co.in

Sukanya Samriddhi Yojana has received a great initial response from the general public. As the scheme offers 9.1% tax-free rate of interest, investors are finding this scheme to be extremely attractive and want to invest in it as soon as possible. They also need handholding to invest in this scheme. But, due to lack of required information with the post offices and authorised bank branches, people are finding it difficult to do so.

I have posted two articles about this scheme and both have received over hundred comments from the visitors. I have been getting many queries regarding the maturity value of this scheme. People want to know the value of their investment as the scheme gets matured after 21 years.

Though it is almost impossible to calculate a precise maturity value of this scheme as there are many variables on which its maturity value will depend, I have tried to make a couple of tables in which the maturity value has been calculated keeping those variables to be constant and yearly & monthly contribution to be the only variable.

Certain assumptions have been made for calculating these maturity values and those assumptions are:

* Rate of Interest has been assumed to be 9.1% for all these 21 years.

* Yearly contributions have been assumed to be made on April 1 every year i.e. the beginning of the financial year.

* Monthly contributions have been assumed to be made on 1st day of every month.

* Although it is not mandatory, a fixed amount of yearly/monthly contribution has been assumed.

* It is also assumed that no withdrawal is made throughout these 21 years.

Here you have the tables:

Yearly Contribution Table

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Monthly Contribution Table

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I hope these two tables help people in deciding how much amount they would like to contribute to this scheme in order to achieve their girl child’s marriage and/or higher education goals.

Before you go ahead and plan to get an account opened, I would like to again highlight the main features of this scheme:

Who can open this account? – Parents or a legal guardian of a girl child up to the age of 10 years, can open this account in the name of the girl child. Up to December 1, 2015, one year grace period has been provided to allow this account to get opened for a girl child who is born on or after December 2, 2003.

9.1% Tax-Free Rate of Interest – This scheme offers 9.1% rate of interest, which has also been exempted from tax in this year’s budget. But, this rate is not fixed at 9.1% for the whole tenure and is subject to a revision every financial year.

Scheme Matures in 21 years or on Girl’s Marriage, whichever is earlier – The scheme gets matured on completion of 21 years from the date of opening of the account or as the girl child gets married, whichever is earlier. Please note that the girl attaining the age of 21 years has no relevance to maturity of this scheme.

Deposit for 14 years only – You need to deposit a minimum of Rs. 1,000 and a maximum of Rs. 1,50,000 only for the first 14 years, after which you are not required to deposit any amount. Your account will keep earning the applicable interest rate for the remaining 7 years or till it gets matured on your daughter’s marriage.

Documents Required – You need birth certificate of the girl child, along with the identity proof and residence proof of the guardian, to open an account under this scheme. You can approach any post office or authorised branches of some of the commercial banks to get this account opened.

You can check the rest of the features of this scheme from this post – Sukanya Samriddhi Yojana – Tax-Free Small Savings Scheme for a Girl Child

You can also download the application form to open an account from this post – Sukanya Samriddhi Yojana – Application Form & List of Banks to Open an Account. If you still have any query or something related to discuss, please share it here.

{ 95 comments… read them below or add one }

Sunil November 12, 2017 at 10:58 PM

In Sukanya yojana. Can I able to deposit different amounts in every year like ppf. Or not. Just like first year I am able to deposit rs 1000only. Next year I want to deposit 150000.is possible to deposit or not. Please mail

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Harish November 18, 2017 at 7:02 PM

Yes you can deposit any amount in between Rs 1000/- to Rs 150000/-per year but the minimum amount to be deposited should be Rs 1000/-per year and the maximum amount to be deposited should not exceed Rs 150000/-per year.

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sonam mourya November 22, 2017 at 2:58 PM

Mem saal mein 1000 jama karte hai tho 21 year mein kitne milenge

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Nn February 3, 2018 at 9:57 AM

Rs52,605-/

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somashekhar March 1, 2018 at 8:16 PM

agar 1.5 lakh per year beti accnt mei daala toh…is there any prblm to father annual income r tax barna padta hai,? …bcz huge amount 50 lakh plus so …that much amount they vl pay hardcash after 21year age of daughter???????

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Binod Bihari Pradhan March 11, 2018 at 9:27 AM

Is sukanya samrudhi comes under 80 c

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ESHWAR March 19, 2018 at 10:22 PM

Yes it comes under 80C

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Sriu January 4, 2018 at 10:59 PM

My daughter age 1 month is she eligible to this scheme

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Sunil March 12, 2018 at 9:13 PM

If I deposited various amount I e 1000 in first year and then 150000 what’s the benefits

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Leela November 13, 2017 at 10:49 PM

It’s nicee

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sonam mourya November 21, 2017 at 10:18 PM

Mujhe ye policy lena hai

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achin December 11, 2017 at 8:49 PM

if need any lic policy, mutual fund

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Ravindrabhai February 22, 2018 at 5:01 PM

Saal me 1000 bhare to 21 saal ke bad kitne milenge

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Sunil Kaundal March 14, 2018 at 2:21 PM

Madam… Please send your no. I will explain about this account. What’s App me on 9816117193

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Nimesh soni November 23, 2017 at 2:55 PM

Contact me ….near my place……

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Y.N.Harish November 29, 2017 at 4:10 PM

can this accout be opened by grand parents for their grand daughter if their son/daughter along with grand child resides outside the country.

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Nn February 3, 2018 at 9:57 AM

Yes you can

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Anil Kapasia November 30, 2017 at 1:28 AM

what is the condition if the father has expired after some years and noone is capable to pay the premium of ssy scheme or the daughter has expired after some years.
Plz answer me carefully.

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thippanna N December 3, 2017 at 8:59 PM

VERY NICE

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BANDARU. AKSHAYA December 6, 2017 at 11:39 AM

Good morning San,

Very Good Plan…

Thank you so much.

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ROSHAN MAURYA December 10, 2017 at 4:35 PM

If any reason stop before 14 years what happens

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leena December 12, 2017 at 2:53 PM

Sir can we open two accounts for one daughter in two different banks to avail more benifit

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Vinesh k das March 24, 2018 at 2:10 PM

No madam its not possible. Only ac per one child. A parent can tak max of two ac for two girl children, n 3 accounts if its twin girls in the secind delivery.

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Kavita December 16, 2017 at 1:29 PM

Sir, my daughter aged is 7 If I want 2 deposit 10000 pm for 14 years her age be 21 years can I keep this maturity amount for next 7 year in Samriddhi account and if yes, then after aged of 28 can we get interest for next 7 year at the same rate

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Vinesh k das March 24, 2018 at 2:10 PM

No..

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Jamal December 17, 2017 at 9:59 AM

Kya Sabhi sbi me account khul Sakta hai

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saj kumar December 17, 2017 at 5:56 PM

Dear,
I would like to take these schemes for my both daughters who are at 9 & 7 yrs ages.

We are now residing in UAE, please let me know the procedures.

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anil December 17, 2017 at 9:51 PM

Nice

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Babu March 19, 2018 at 3:19 PM

My children has 5years

How it passibule

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vishal subhash vaykos December 21, 2017 at 4:37 PM

plea take to full info

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himakiran December 22, 2017 at 10:31 AM

i want to join in this scheem . can i get from other than post office which offers this scheem please let me know for my mailing address.
thanking you

himakiran2009@gmail.com

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swapna v gaikwad December 23, 2017 at 2:53 PM

nice yojana…. i will apply for this .

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bharti December 23, 2017 at 4:09 PM

Hi,

I need the information.his only for girls child.any same benefit for boy child policy,

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ANAND KUMBAR December 26, 2017 at 9:31 PM

Nice policy

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K n raghavendra December 31, 2017 at 12:51 AM

Sir this year only i have hopened SSA account in the name of Prarthana k r .i went to subramanyapura post office to deposite amount in post office.staff told me our office under maintence so server is not working u can not deposite amount so i went to kumarswmmylayout post office deposited 25,25.thousand each day they said some limit to depsit another branch account, i want to deposite this year end closing atlest 1lakh but its not happned now what to do ple reply me otherwise i will be loosing my benifits postoffice pin code is 5600062, my daughter S S A acount no is -3785251346

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Arjun Jagannath Nande January 2, 2018 at 12:47 PM

Mujhe ye policy key details do

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udai pratap singh January 2, 2018 at 9:35 PM

Agar meri beti 9 sal ki hai to pament kab melega

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Shyam Sunder January 4, 2018 at 2:06 PM

Mujhe lena hai please help line Gide kijiye

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Anil Tembhre January 6, 2018 at 2:27 PM

veri good plan

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Lalit Agrawal January 6, 2018 at 6:56 PM

if the father experire.or he is not able to pay money, then what reaction will come. How much payments received if I pay 1000 per year

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Swapna gim January 17, 2018 at 8:07 PM

what is the condition if the father has expired after some years and no one is capable to pay the premium of ssy scheme.
Other insurence if the guardian expired company paying rest of the money.
What about sukanya scheem?

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Chandrasekar January 20, 2018 at 3:04 PM

It’s nice like

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MD Naiem January 22, 2018 at 4:47 PM

Sir me her month ki bjay Saal me ek bar 25000 ki 1 hi installment jma kra sakta ho

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MD Naiem January 22, 2018 at 4:48 PM

Sir me her month ki bjay Saal me ek bar 25000 ki 1 hi installment jma kra sakta ho

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Harish January 23, 2018 at 1:34 PM

Hi,

Can i open this Sukanya Samrudhi account in HDFC Bank. Please let me know. When i checked in Authorized Bank list, HDFC Bank name was not there. Bot, when i approched HDFC Bank personally, they said, yes u can open account here. Please clarify my doubt.

Regards,
Harish Kumar

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satyakishore January 25, 2018 at 9:02 AM

Call me sir my no 9866323632 kishore

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atul upadhyay January 29, 2018 at 11:17 AM

dear all,
nomination facility avilable or not in Sukanya Samriddhi yojana .

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mantu kumar singh January 30, 2018 at 12:45 PM

i want to take your policy

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Kamal Purkait February 2, 2018 at 3:43 PM

Need to open Sukanya Samriddhi Yojana account.

Pls advise on this

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Srikanth February 3, 2018 at 1:16 AM

Hai sir,
Why all branches are not interested to open this account??
I went many branches but they were refused to open account.
Pls can you anyone tell me what to do if banks are refusing to open account..

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Pradeep kumar February 3, 2018 at 6:26 AM

Very yojana

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Ranjith Gangarapu February 4, 2018 at 10:54 PM

I need to Account…..my mob no 9962652399

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Ranjeet Singh Chauhan February 6, 2018 at 5:19 PM

Sir/madam meri 7 saal ki bhatiji hai yadi abhi se 1000/- per anual deposit karte hai to 21 saal baad returning kitni hogi please give details

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Lakhyajit Sharma February 6, 2018 at 8:18 PM

Is there facility of auto debit in Sukanya Samridhi yojana?

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Devendra February 7, 2018 at 12:58 PM

what is the condition if the father has expired after some years and noone is capable to pay the premium of ssy scheme or the daughter has expired after some years.
Plz answer me carefully

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Mohammed Rasheed February 12, 2018 at 3:49 PM

Dear Sir,
If possible to open account in SBI bank?
Please advise if i can open acct with 1000 rupees on present year and if possible i can deposit the money on any month not even any order or i have to deposit on particular month for every year.

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Kamal Purkait February 13, 2018 at 10:19 AM

May I open the Sukanya Yojana Samridhi account through SBI local branch?
Pls advise

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ravi February 13, 2018 at 12:41 PM

give detail about this policy

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ANIL CHANDRA MAHATA February 13, 2018 at 2:39 PM

I open a SSY at local post office. May I transfer this A/C at United Bank of India. please give me a advice. Mobile no: 7407276429

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Nalina February 14, 2018 at 11:02 AM

Hi, I am just wondering if the child is in overseas can this be applied? Thanks

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Sunil February 17, 2018 at 1:54 PM

Sir when i opened ssy interest rate was 9.1%, now it is 8.1% my ? is at the time of maturity at what rate i get my return?

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Amit Ray February 18, 2018 at 1:13 AM

My daughter DOB may2014 policy will start march 2018 premium will deposit last year?Final payment year?

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Johnson kunjappy February 18, 2018 at 6:43 PM

Sir, I have started my daughter SSA in the age of 6, I want to know the maturity of the year

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yogesh palande February 21, 2018 at 6:23 PM

sir,
agar maine monthly 1000 paid kiya to after 14 yers kitna total jama hota he or after 18 , 21 kitana milega.

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Soma February 23, 2018 at 12:33 PM

Dear Sir,

I am planning to open SSY account with SBI, Hitechcity Branch, Hyderabad, Is this account is transferable to any other Branch SBI across the India. Is it possible? Please advise?

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Amrutha February 24, 2018 at 12:49 AM

Myself Amrutha my sister has born on 9/4/2003 is it is possible to open account in her name? And the deposition of every year is must and should?

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Vinesh k das March 24, 2018 at 2:14 PM

Hi amrutha..
You can open only till girl attains 10 years of age.

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shadab February 25, 2018 at 7:39 PM

koi new schemes aayi hai kya?? releted for girl…please tell me

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somashekhar March 1, 2018 at 8:17 PM

reply me frnds

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Som March 2, 2018 at 8:49 PM

If daughter age 3 years shall I can start yearly sukanya samriddhi yojana ?

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Karan March 3, 2018 at 6:35 AM

Yes u can start this scheme upto the age of 10 year.

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Usha March 4, 2018 at 3:44 PM

My sister daughter is 6 years old now, can I open this account scheme now in 2018 ,

Why because this scheme is came into existence in 2015 right even now also we can open this scheme or not

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DEEPAK WAGARE March 4, 2018 at 9:23 PM

S.S.Y. INTEREST RATE 9.2% SE KAM KAR DIYA HAI, KYA YAH SAHI NEWS HAI.

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kavitha vijay March 5, 2018 at 7:56 PM

I opened this account for my daughter in Jan 2018. im yet to start with my yearly deposit . if i deposit before march 2018 will it be counted for this financial year?

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Kailash March 11, 2018 at 12:27 PM

600000

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Pankaj March 6, 2018 at 7:45 PM

How could i fill online the sukanya samriddhi yojna premium

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Rahul Sharma March 7, 2018 at 8:16 AM

Sir tell me about the calculation of the SSY Scheme

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Sunil Kumar Baitha March 7, 2018 at 9:15 AM

Suppose I open accounts 1000/- per month at present income .Then six month after my income is now increase .so i want change calculating table it possible or not?

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Sibsankar March 8, 2018 at 7:52 PM

Please tell me one time plan in SSY

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Jennifer March 9, 2018 at 4:14 PM

What is the maturity value if 10000 is deposited yearly n withdraw after 18 years

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Guman March 10, 2018 at 2:14 PM

If unfortunately any accidents and scheme are not mature

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Hameed March 10, 2018 at 4:33 PM

I would like to open my account ..is 100/protect??.. plz tell me

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shahnawaz khan March 11, 2018 at 4:03 AM

Dear,

I want to know that icici bank available this scheme.

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suneel sharma March 12, 2018 at 4:54 PM

sir,
i want to know what is grace period up to December 1, 2015.

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shahnawaz khan March 13, 2018 at 2:22 AM

Dear sir/mam,

I hope this time you would answer my question. I have two question.
1. can i open SSY account for my daughter any of the bank or particular SBI branch only.
2.how to open this account means through the agent or direct to bank or post office?

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Mahender Singh Bisht March 14, 2018 at 2:51 PM

Koi new policy age

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Thalari prathap March 14, 2018 at 4:31 PM

very nice this scheme thanks.

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Francis March 18, 2018 at 2:45 PM

Monthly 2000 so after 21 yrs how much got

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Babu March 19, 2018 at 3:23 PM

My daughter is 5year next 21yearofter how many rupees given me

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Mithun gupta March 20, 2018 at 11:13 PM

Mujhe katana he

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Mithun gupta March 20, 2018 at 11:14 PM

21

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Mithun gupta March 20, 2018 at 11:15 PM

1000 manthly

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Suraj Rohra March 25, 2018 at 5:02 PM

My Daughter Is 10 years and 6 months Old. So which Scheme is Suitable For Me Plz Suggest??

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Aditya Singh Rathore March 30, 2018 at 11:03 AM

Dear sir,
My daughter was born on 20/01/2012.I opened her account in 2015.annually I deposit around 50000.what would be the interest at the end. Actually the problem is the changing government and changing interest rates.. Do you think this would be a safe scheme to invest in or should I reduce my investments. I am scared that I don’t block my money for nothing, because eventually I am doing all this just for my daughter and her benefits.

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Sapna April 3, 2018 at 9:48 AM

Sir agar ladkii Ke papa ki govt. Job hai to kya vo iss scheme Ko fill kr skte hai?plz Ans me

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