# 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

Monthly Contribution Table

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. Shrikant Kadu says:

My Sukanya Samruddhi Yojana account is open but after opening SBI bank said it’s not granted & per month contribution cutting is going on

2. Shrikant Kadu says:

Sir,my daughter is only 10 month born so I can open Sukanya Samruddhi Yojana account but SBI bank assistant said me lots of problems

3. Ataulla khan says:

Meri bet I 9 year ki hai ky me a plan le Sakta ho

4. Ragini Vigneswaran says:

Sir, I already have a PPF account … can I open SSY account? And can we take the money if needed between five year in SSY? Can I switch that PPF to SSY?

5. Praveen Kumar says:

Sir,my twins daughter h unke liye scheme smjhaye

6. sir can open 2 ssy account for one girl with different guardian ? please give me a suggestion through email.com address , above mentioned

7. Girish says:

Hello Sir,

How the interest will be calculated, is it like yearly.. Ex: one who paid full amont in january will get the same meturity amont compare to one who paid in December?

8. sir, can open 2 SSY account for one girl with different Gaurdian ?please give me a suggestion through e-mail address , above mentioned

9. Poonam Shrimant Panaskar says:

Dear Sir,
I would like to know that if we have already taken the sukanya yajana, can we convert it in to sukanya samriddhi yojana or can we able to take new sukanya samriddhi yojana for same daughter.

10. Nice Article, illustrated very well

But in this quarter Sukanya samriddhi yojana giving 8.1% interest to investors, even i would recommend to all investors if you wanted to save money for girl child, that can give you good maturity value with EEE exempted Benefits

11. antro says:

In this scheme post office or SBI AND THEN both or same please clarify

12. Malan begum says:

If I deposit 2000rps everyyear in sukanya samridhi yojana for my 1year old daughter after 21years how much we will get amount

13. Shashi Kumar chaudhary says:

Dear sir mere beti 8year Ke hai mein 500rs month agar deposit Karo to meturity hone par kya amount Milega

14. Vishwa says:

In case we not paid full 14yrs in case of parents death or discontinuation of installment payment. Shall the scheme will matured with paid amount whatever amount(Ex:More than Rs.1000/-). one more thing any sum assured amount will come if parents death….
Let me inform the scheme benefit…

15. K veilumuthu says:

Sir want to new account open of my child my conduct no 7397605190

16. SALIM MUHAMMAD says:

SAMRIDI BIMA YOJANA VILLAGE DINAULU HAZRAT PUR FIROZABAD RIGARD SALIM MUHAMMAD BY CONTECT 9727960301

17. Arockia Ramesh Babu k says:

Sir…my doughter born two month before may i start this sheme coming june…

18. Spouse We are regular paid 1000/- 14 year aftar 21 year how many rupees collect of Sukanya Samriddhi Yojana.

19. Ravi kumar says:

Sir