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. Hello sir, sir meri beti dob 04.01.2006 hai. Aur 16.03.2015 ko main a/c open karta hu aur per year 100000 deposite karta hu to agar wo 21 year ki age main shadi karti hat matlab 2027 main to us time main kitna amount approx withdrawl kar sakta hu?

  2. Hello Sir,
    Meri Doughter ka DOB 30/10/2003 (Years 11, Months 04 Days 18) hia. Kya mai Suknya Samridhi Yojna ke tahat Account Opening Kra sakta hu ? Please Repply me.

  3. Plz let me know can I deposit money once in a year or we have to deposit every month ?
    Thank u in advance .

  4. Sir plz 1 More questions
    Sir my daughter has birth certificate bt the address has mentioned with his maternal so is there any problem to open an account or it will do.

  5. hi sir
    thanks about it bt one thing i want to know that if a girl got death within 21 Yrs what will be after that ,amount will be withdran or not plz tell

  6. Hello shiv
    Jaise Aapne bAtaya Ki Kitane bhi baar account me money deposit kar sakte Hàí to phir kaise interest milege iss yojana me
    Mean client kise bhi years me kitana bhi deposit kar sakta hai Kya kabhi yearly 10000/- to Kabhi 20000/- etc 1000/- se 150000/-ke beech me jo fund bAnega Uss par interest milege Aisa Kya
    Pls shiv ji batate or clear kare

  7. sir ,
    if d amt of deposited r 6000 Rs per yearly for 14 year then how many amt r got d girl after completion of maturity date …

  8. meri beti ka date of birth 16 -08-2004 hai kya mai account khulwa sakta hu. kripya jankari dene ki kripa kare.

  9. Meri Beti abhi 8 mah ki hai kya mai es scheme me account khulwa sakti hu. eske liye form kaha se milega. kripya bataye ……..

  10. Sir
    I want to say that if I open account with 1000rs per year and next year will I deposit more than previous installment (15000rs) and next year will I deposit less than (12000). Can it possible

  11. Parents ki death ki condition me scheme me kis tarah k sections hai

    Ya is S S Y ke equalant koi lic plan hai

    1. Parents ki death ki situation mein aap request de kar balance paisa nikaal sakte hain aur account close kar sakte hain. LIC plans aapko 5-7% return dete hain, koi LIC plan 9.1% guaranteed return nahin deta.

  12. Dear sir
    is scheme me paisa dalena suru kar diya hai. Agar 14 saal se phele bacche k parents ki death ho jati hai tab kya hoga

  13. Merit beti ka d o b 25th jul 2004 hai agar 5000 monthly me deposits kiya to 2025 tak kitna maturity hoga

  14. hi sir,
    meri beti abhi 1.6 Yrs ki hai uska birth orissa mai hua lejin hum kolkata mai rahte hai uska birth cerificate orissa ka hai to mai kya us certificate se kolkata mai a/c khol sakunga.aur uska identity proof kya du.pls mujhe mere mail id mai replu kijiye ga.

    1. Hi,
      Haan, aap Kolkata mein account khol sakte hain. Identity proof parents ka ya guardian ka dena hoga, beti ka nahin, beti ka sirf Birth Certificate dena hoga.

  15. Hello sir
    Sir I would like to know about the the process to withdraw the amount at the time of my daughters marriage.(the document I will require)

    1. Hi Sandeep,
      As of now, I have no idea about it. But, probably the marriage certificate or a declaration by the girl child or even an invitation card of the marriage would do.

  16. The limit of tax free savings is 150,000.
    Is the amount deposited in ssy consider in tax free savings I.e. in 150,000.

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