This comprehensive and user friendly SSY calculator can be used for calculation of Estimated amount of Interest, Return on Investment and Maturity Amount. The Calculator supports Yearly and Monthly modes of investments.
You may also use Actual SSY Interest and Yearly Balance Calculator to know the amount of Interest payable in your SSY account for your investments made during any year.
Calculation of actual amount of yearly interest and closing balance on yearly basis. You can use this SSY calculator to check actual amount of interest for any year for amount(s) deposited in SSY account at any time during the year.
The SSY interest rate is notified by Central Government from time to time for all authorised banks and post offices. The current Interest rate is 7.60% p.a. applicable w.e.f. 01.04.2020.
The SSY interest rates since launch of the scheme have been as under:
|Financial Year||Interest Rate||Financial Year||Interest Rate|
|Up to 31.03.2015||9.1% p.a.||01.04.2015 to 31.03.2016||9.2% p.a.|
|01.04.2016 to 30.09.2016||8.6% p.a.||01.10.2016 to 31.03.2017||8.5% p.a.|
|01.04.2017 to 30.06.2017||8.4% p.a.||01.07.2017 to 31.12.2017||8.3% p.a.|
|01.01.2018 to 30.09.2018||8.1% p.a.||01.10.2018 to 30.06.2019||8.5 % p.a.|
|01.07.2019 to 31.03.2020||8.4% p.a.||01.04.2020 onwards||7.6 % p.a.|
The interest is payable on minimum balance available in the account from 5th to last day of month. The interest is applied on last day of the financial year and is compounded at yearly rests.
Investments under SSY upto prescribed limits (Currently Rs. 1.50 lacs) are eligible for tax rebate under section 80C of Income Tax Act. The interest earned in SSY accounts is exempt from Income Tax.
SSY (Sukanya Samriddhi Yojana) is a No Risk investment scheme of Government of India.