Sukanya Samriddhi Yojana – Calculating Maturity Value after 21 Years

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.

2,282 thoughts on “Sukanya Samriddhi Yojana – Calculating Maturity Value after 21 Years”

  1. sir maine 26.03.2015 ko account khulvaya hai. ab muzhe 20000/ rupye per year dalna hai to kya muzhe 20000 march main dalna hai ya april meain

  2. Sir
    1. Police chalna tak agar mera kuc hogaya to rupees kisko melaga.nomame to koye neha rayata. 2 . 4/5 salbad agar or mai premium varna saku to keya hoga.

    1. 1. Aapki absence mein girl child is account ko continue bhi kar sakti hai aur close karke paise withdraw bhi kar sakti hai.
      2. Minimum Rs. 1000 deposit karna zaroori hai, nahin to har saal Rs. 50 penalty lagegi.

  3. dear sir i need one clarification re?arding claim sir.after maturity of 21 age ,what type of document that they need to provide our amount sir,will they need our signature as same as what we put on our opening time?sir

    1. There is no clarity regarding the same as of now. But, I think the girl child would be required to produce the same birth certificate on maturity with which the account is getting opened initially.

  4. dear sir i need one clarification re?arding claim sir.after maturity of 21 age ,what type of document that they need to provide our amount sir,will they need our signature as same as what we put on our opening time?sir

  5. Hi,

    I have opened an account for my daughter in post office. Can I transfer this account from post office to the bank anytime .

  6. sir kya es plan mey koe life recovers bhu hai.
    agar koe parents apney baby key liye
    Ye account open karat hai n after one
    year parent r father is no more.
    kya es conditions mey koe labh hammer baby ko hoga.
    sir ples conform me.plese……

    1. Ashokji, is scheme mein life insurance cover nahin hai. In case parents ko kuch ho jaata hai to girl child ko balance amount mil jaayega. Agar girl child chahe to is account ko continue rakh sakti hai.

  7. sir
    I have three daughter what can I do
    for investment because rules falow only to baby’s……
    09452174553

  8. Dear sir, the amount which we are deposit in post office that is compulsory to pay every month or we can pay qutarly and yearly also..pls guide for the same.

  9. sir
    i have not understand calculated amount after 21 years.
    suppose i open account invented per year 1000 so how many amount received after 21 years.
    please send me calculater.
    please help .

  10. Sir, I am staying in abroad along with my wife and our 1year old daughter. Can I open this account online?

  11. This scheme gather’s the money. but it does not covers the life risk.If any incident occurs within the maturity period.

  12. sir,
    1. If a child year is 7 years, she’s father opened a sukanya plan , then he gives how many rupees in 21 years?
    2. If a child year is 1 year she’s father opened a Sukanya plan, then he give how much rupees in 21 years?
    3. How much will get maturity value in both cases ?
    and give details calculation about the year gape

    1. Hi Jayanta,
      1, 2 & 3. You need to deposit a minimum of Rs. 1,000 and a maximum of Rs. 1.5 lakh for 14 years. After 21 years when the account matures, the maturity amount will depend on your contribution and rate of interest.

  13. sir maine apni beti ka sukanya yogna account 26.03.2015 ko khulvaya hai . to yah sahi hai ya muzhe 01.04.2015 ko khulvana chahiye tha
    plz reply

  14. Sir suppose 1000 yearly k hisab se Muje 14 saal tk 14000 bhar ne hai aur 21 saal bad Muje 52000 k karib paise milenge kya

  15. Sir
    Maine ye scheme ko btayiye kind 1000/- JMA karane par 21yr mai kitni value ho jayegi .aur Maine pada kind premium surf 14 sal hi jama krne hain .please describe.

    1. Bhuwanji, aapko 14 saal paisa deposit karna hai. Agar aap Rs. 1,000 har mahine jama karenge, to aapko 21 saal baad approx. Rs. 6,25,305 milenge. But, agar aap Rs. 1,000 saal mein ek baar jama karenge, to aapko 21 saal baad Rs. 52,605 milenge.

  16. hello sir,
    i have a query, kindly help me to get out of it.

    i have opened a account with the opening amount rs 5000/. Bt i want to contribute 2000/ per month. Can i deposit 2000 Per month from the next month?
    5000/ Deposited for first month would be adjusted in the next installment?
    Actually I want to spent 24000 yearly.

    please do suggest me with some solution

    pawan kumar
    9911548285

    1. Hi Pawan,
      1. Yes, you can deposit Rs. 2,000 per month from the next month.
      2. No, Rs. 5,000 deposited would not be adjusted for the next month.
      3. This scheme is not a monthly deposit scheme. You can deposit as many as times as you want and whenever you want.

  17. Sir
    Your suggestions are very helpful for us but I have a query
    1. My daughter is now 7+ yrs old so I want 10 lacs at the time of her marriage at the age of 21 yrs of my daughter that means after 14 yrs.
    So what amount should I have to invest annually.
    I dont want any money after her marriage.
    Plz help me or call me @07278937847.
    Thank u in advance

    1. Thanks Mr. Rajesh for your kind words!
      Considering 9.1% rate of interest, you need to invest approximately Rs. 36,000 every year to get approx. Rs. 10 lakh after 14 years from now.

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