Excel Calculator Sukanya Samriddhi Account
Sukanya Samriddhi Account is saving scheme for girl child. Last week, Finance minister announced that Sukanya Samriddhi Account/Yojana interest would be tax free. Now this saving scheme intended for girl child is attracting several investors. This is a small saving scheme which offers 8.2% interest rate in 2024. In this article, I would touch upon key features along with Sukanya Samriddhi Account/Yojana excel calculator download. One can do computations of sukanya samriddhi yojana calculator online. This calculator would help you to know how much tax free income you can save for your girl child. This Sukanya Samriddhi Yojana calculator excel download would also help you to know how much money you need to invest if you want to accumulate a particular amount. You can check this Sukanya Samriddhi Yojana calculator free download excel template.
Features of Sukanya Samriddhi Account / Yojana
- Parent / Guardian can open Sukanya Samriddhi Account in the name of the minor girl child till 10 years of age.
- Minimum deposit is ₹ 1,000 and in multiples of ₹ 100 thereon.
- Maximum deposit to be made is ₹ 1.5 Lakhs in a financial year.
- Interest rates are 8.2% for financial year 2024-25. The interest rate would be announced by the Govt. of India every year, the way they are doing it for PPF.
- Account would be active till girl attains 21 years of age or during marriage after 18 years of age.
- To meet higher education expenses, partial withdrawal is allowed up to 50% of the balance accumulated till the end of the last financial year. This is allowed after girl attained 18 years of age. This provision is kept so that early marriage is prevented before 18 years of age.
- Interest is compounded on an annual basis and would be first credited when a girl attains 14 years of age.
- Sukanya Samriddhi Account can be transferred anywhere in India in case girl moves from one city to another.
Also Read: Complete guide on Sukanya Samriddhi Account – Benefits and Drawbacks
Major benefits of Sukanya Samriddhi Account Girl Saving Scheme
- Interest rate of 8.2% announced for FY 2024-25
- Tax deduction u/s 80C upto ₹ 1.5 Lakhs in a financial year.
- Interest received on Sukanya Samriddhi Account is exempted from income tax.
- Good for Parents / Guardian who wants to accumulate tax free income for girl child for education or marriage.
Excel Calculator Sukanya Samriddhi Account
I have provided a simple Microsoft Excel Calculator which can be downloaded. You can find out how much interest you would get or maturity amount with this sukanya samriddhi yojana calculator online. Sukanya Samriddhi Yojana calculator free download excel template would help you to compute it on finger tip.
- If a parent / guardian invests ₹ 1,000 per year for 14 years and wait for 21 years, the accumulated amount would be ₹ 46,000.
- If a parent / guardian has invested ₹ 150,000 per year for 14 years and wait for 21 years, the accumulated amount would be ₹ 69.2 Lakhs.
How to use this Sukanya Samriddhi Account / Yojana Excel calculator download?
- Click here to download the calculator of Sukanya Samriddhi Account.
- Input the investment amount per annum in green color cell in yearly investment column.
- Interest rate is updated as 8.2% per annum every year (this article was updated in 2024). In case in any specific year, there is change in interest rate, you can update the same for that year.
- Your accumulated amount is displayed. It would also provide year on year, how interest is computed and what amount is accumulated.
Also Read: Should you opt for Kisan Vikas Patra (KVP) which offers 8.7% interest rate?
Excel Calculator Sukanya Samriddhi Account – Sample Screenshots are enclosed below
1) Screenshot indicating ₹ 1,000 per annum investment for 14 years. Accumulated investment value would be ₹ 46,145 at the end of the 21 years along with interest. Investment should be done only for 14 years and maturity is at 21 years.
2) Screenshot indicating ₹ 150,000 per annum investment for 14 years. Accumulated investment value would be ₹ 69.2 Lakhs at the end of the 21 years along with interest. Investment should be done only for 14 years and maturity is at 21 years.
Readers, what is your view on Sukanya Samriddhi Girl Child Saving Scheme? Do you feel this is a good scheme promoted by Central Government. Do you think these computations of sukanya samriddhi yojana calculator online are helping you to take decision to invest or not? Share your views about this Sukanya Samriddhi Yojana calculator free download excel template.
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Suresh KP
Excel Calculator Sukanya Samriddhi Account
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in My daughter account, I have not deposited money form NOv- 2020. please guide me what charges need to pay, as on date- 20,09.2024
Dear Sir,
My daughter is 8 yrs old i will invest an annual amt of Rs.43800 /- so when she turns around 23 – 24 yrs what amt of maturity i may get kindly reply in this regard
regards
vittal
Hello Vittal, Since interest rate changes every year, one cannot know exact amount. However, we may check approx amount and then compute. e.g. if you invest 43,800 at beginning of 8 years to beginning of 23 years (both years inclusive i.e. 15 years) = 43,800 x 15 years = 6.57 lakhs. Interest on such investment that is compounded every year @ 7.6% (approx which can change every year) = 5.8 Lakhs. Total with interest the amount would be 12.4 Lakhs (Investment of 6.57 lakhs + interest of 5.8 lakhs)
Dear Sir,
Its mandatory to invest every year ?
What will happened if missed 4-5 year to pay ?
Pl. make me understand that I have opened the Sukanya Samridhi accout late i.e., after baby’s age is 8 year ?
In this case how many year I have to pay the installment ?
I have 2 daughter, so can I invest as 1.5 lacs and 1.5 lacs ?
Thankyou
Hello Umashankar, there is min deposit of Rs 250 per year. If you don’t deposit, your account would be inoperative. Pls checek with bank or post office where you have opned it. You can deposit Rs 1.5 Lakhs per SSA account per year for 15 years from the date of opening or till maturity.
sukanya samrddhi is a very good investment plan for girl. i think it give highest benefit for girls.
Hello sir
I am my daughter account sukanya samriddhi yojana post office deposet 17/ 06/2015 date 7000 rupees & interest 483 rupees but my calculation interest is 637 rupees.
Please advise post office interest right / my calculation right
My daughter born 19 Jan 2005 and ssa account open may 2015 please give me maturity date
Dear sir,
Pleas can tell us i am oping my doter fast year have put RS. 150,000,00 now next year wont to put again but post office People have not tacking he not tacking the money he say your all ride have completing 14 Years,
Please half,
Name – Piriya Maurya
Post office – Pholpur
Dist – Azamgarh
UP
sir
i have an account my home town Rasara head post office in uttar predesh.now i live in Howrah in west bengal.can i deposit this year primium.
please help me.
Shyam sundar prasad
I want to know that the maturity date of SSY is after 21years
Is this after child attain 21 years or
After completion of 21years from the date of policy
After completion of 21 yrs from account opening date.
I think it is wrong. If 10 year Girl child means, maturity at 31 years?
Hi All,
I had open the sukanya samriddhi account at SBI Bangalore in the month of Jan 2016 and deposited monthly based.
Jan 2016 – 25 thousand.
Feb 2016 – 25 thousand.
March 2016 – 50 Thousand.
Can you please tell what would be the interest rate for the Year 2015 – 2016. ? As per SBI Bank statement the interest credited is 1533 Rs.
Vishnu Prabhakar Gupta
Interest rate-2015-2016 / 9.1
12 month 9.1/12=.766 per month interest
Jan2016 -25000x.766/100=191.5
Feb2016-250000+25000=50000x.766/100=383
Can we transfer account opened in Post office to a BANK like SBi
thanks for the post. i opened one in sbi kolkata and also got online banking option. i transfer online every month.cool!!
I have stared a Sukanya Samriddhi Account in SBI- Mylapore- Chennai. (19/06/2015)
Banks in India are disgusting………most of them dont even know what this scheme is.Went to Post Office and account was opened in 10 min provided you have all documents (Birth Certificate of Child/2 PP Photos of yours and child/Address Proof copy-Aadhar will do/Identity Proof Copy-PAN CARD preferably and Rs 1000 in cash to start with).But only problem with Post Office is that they dont have online money transfer facility in case you move out of city or country.
I agree Rajat
very nice but account opening in Jamshedpur banks even in sbi is very difficult they are waiting for gov. orders in hard copy. The banks should provided online facility for it.
When Bank will start to open this SSY account? we are waiting for this account to be open in bank.
thanks allot for your good information such a way…
best investment for baby…
How the interest will be calculated if the amount is deposited in different months of the FY??
You can update the interest rate in the excel calculator and it would provide you maturity amount. e.g. for FY 2014-15, it is 9.1% and for FY 2015-16 it is 9.2%. You can modify this in excel template and you can get returns from Sukanya Samriddhi Account
calculate 9.1 percent guarantee return after 25 yrs
Thanks a lot for your Info
Very good Venture of this government,
I want to confirm that if i am depositing 1000/- as initial account opening and in next year can i deposit more say 30000. Is there any durability of amount deposited or fixed as mandate while opening account.
No. You can deposit minimum amount and deposit upto max of Rs 1.5 Lakhs per annum
thank u bro…
good information…..Thanks a lot dear.
The XL sheet is shwoing idealy for who is having a baby girl age 1 year or just born.
what about for different age groups..?
My kid is having 10 years .. i have downloaded the XL sheet and try to change the age level but it doesn’t allow me to change the Year of Investment column in the XL sheet.
The article and XL should be in a dynamic way which it can reflect for all the age group.
This Article and XL sheet in one way only. It is is useful only for the 1 year kids only.
I hope you people understand the problem.
Hi suresh,
I have opened this account on 7-3 , will the interest be calculated at 31-3 ? then how much I will get for this financial year ?
Is the interest rate fixed at 9.10% or will it vary every year ?
Yes. It would be announced by Govt. of India every year.
Good work. we r blessed with triplets(3 girls), now their age is 6 years n 9 months. one son is also there for us age 4 years n 2 months.
1.will u please suggest us how many accounts we have to open for my three daughters in sukanya samruddi account.
2. can I open ppf account for my son under my wife name also?
3.How much amount to be paid maximum for three accounts totally for 1 year? pls tell us the accumulated amount after their 21 years in ssa.
4.Also suggest any other investment for my 4 children for their education n marriage?
Thanks
Thanks a lot Suresh for sharing your analysis with us.
Very useful info 🙂
HI, I AM VIJAY JHA, I WANT TO INVEST RS.12000 P.A. IN SUKANYA ACCOUNT, WHATS MATURITY AMOUNT
Vijay, you can download the excel and compute on your own.
Sir Am very much thankful to you, for sharing with us such an excellent information.
God bless you.
Am in to Life Insurance for 14 yrs. Because of your site & information provided by you am highly obliged and feel like taking up General Insurance ( Health & Motor ). Please guide me three best General Insurance co. to take up AGENCY. God bless u once again.
good article. lots of information in your your blog. good work. keep it up
Hi suresh
How they calculate 14 years, from their birth or from their current age.
21 years means when girl attends 21 year or scheme completion of 21 years.
Hi Suresh
Good calculator. However, I had one question. Can the we vary the investment from year on year? Or is it mandatory that what every amount we invest in the first year, the same amount we need to maintain. I understand there is a upper limit of 1.5 lacs. However can we change the yearly investments is my question?
We can vary. There is lower limit and upper limit. You need to ensure that you deposit minimum amount per annum.
Are you sure about – “interest will be first credited once girl attains 14 year of age”. Also can you confirm govt will credit interest for all the year before 14 year (e.g. if girl is of 8 years she will get accumulated interest compounded annually for 6 years).
Yes Animesh. You can check post office website too.
This is very good plan for Girls. But this is still not available in Thrissur (Post Office or Bank). When we can join this scheme in my Place (Thrissur)
Thanks a lot…
Good one suresh with all the details clearly mentioned and not confusing.
by the way where can I open this account, in which bank?
Post office has already started this. Even you can open at nationalized banks, however I do not know whether they have started this or not
Hi Suresh,
I found your SSA excel calculator is the best one with simplicity. Good work 🙂