Sukanya Samriddhi Yojana Scheme - ₹1000 Interest Calculation

Sukanya Samriddhi Yojana Interest Calculation can be easily done using the Sukanya Samriddhi Yojana calculator. Also, for deposits of Rs. 1000 per month for next 15 years in Sukanya Samriddhi Yojana, you will get total maturity amount of Rs. 5.40 lakhs with total deposits of Rs. 1.8 Lakh.

Sukanya Samriddhi Yojana is one of the best scheme you can open for your girl child with latest interest rate of 8.2% for quarter April to June 2025. You can open Sukanya Samriddhi Yojana scheme in post office and calculate interest on Rs. 1000 monthly deposits.

Know more about Sukanya Samriddhi Yojana details below.

Table of Contents

₹1000 Sukanya Samriddhi Yojana Interest Calculation Details Video
Sukanya Samriddhi Yojana Details
Sukanya Samriddhi Yojana Eligibility
Sukanya Samriddhi Yojana benefits & Rules
How many years need to pay for Sukanya Samriddhi Yojana?
Interest you will get after 21 years with Rs. 1000 per month deposits
How to get Maximum Interest in Sukanya Samriddhi Yojana?
Conclusion

Watch below video to understand Sukanya Samriddhi Yojana Interest Calculation.

₹1000 Sukanya Samriddhi Yojana Interest Calculation Details Video

Watch more Videos on YouTube Channel

The above video shows that with just Rs. 1000 monthly deposits in Sukanya Samriddhi Yojana for next 15 year, you can get Rs. 5.4 Lakh after 21 years (including 6 years of cooling period). We have assumed that you will get interest rate of 8.0 consistently in Sukanya Samriddhi Yojana over the entire tenure.

Sukanya Samriddhi Yojana Details

Sukanya Samriddhi Yojana (SSY) is a savings scheme launched back in 2015 as a part of Government initiative Beti Bachao, Beti Padhao campaign
This scheme enables guardians to open a savings account for their girl child with an authorized commercial bank or India Post branch
The current interest rate in Sukanya Samriddhi Yojana is 8.2% for April to June 2025 quarter
You get monthly interest and Yearly compounding in Sukanya Samriddhi Account
This can help you to accumulate huge corpus over long term of 21 years in Sukanya Scheme

Sukanya Samriddhi Yojana Eligibility

It is very important to understand whether you are eligible to open Sukanya Samriddhi Yojana account for your girl child. Below are certain conditions:

If your girl child is below 10 years of age, you can open Sukanya Samriddhi Yojana account for her
Maximum of 2 accounts can be opened for 2 girl childs
Third account cannot be opened for third girl child
Account is opened for total of 21 years or before girls marriage, whichever is lower
You need to deposit for 15 years, next 6 years is considered as cooling period

ALSO READ: Rs. 1000 PPF Interest Calculation for 15 years

Sukanya Samriddhi Yojana benefits & Rules

Attractive interest rate of 8.2%, that is fully exempt from tax under section 80C.
Minimum Rs. 1000 can be invested in one financial year (April to March)
Maximum investment of Rs. 1,50,000 can be made in one financial year (April to March)
If the minimum amount of Rs 250/- is not deposited in any financial year, a penalty of Rs 50/- will be charged
Deposits in an account can be made till completion of 15 years, from the date of opening of the account
The account shall mature on completion of 21 years from the date of opening of the account, provided that where the marriage of the account holder takes place before completion of such period of 21 years, the operation of the account shall not be permitted beyond the date of her marriage
Passbook will be issued to customers
Withdrawal Facility
To meet the financial requirements of the account holder for the purpose of higher education and marriage, account holder can avail partial withdrawal facility after attaining 18 years of age.
If the beneficiary is married before maturity of account, account has to be closed.
Monthly interest is calculated and compounding frequency is annual
You can open a maximum of 2 accounts in a family

ALSO READ: Save Income Tax using various Tax saving options

How many years need to pay for Sukanya Samriddhi Yojana?

Total number of years you need to deposit in Sukanya Samriddhi Yojana account is 15 years. For next 6 years, you don’t have to deposit any amount and you continue earning interest amount on your deposits.

So the maturity period of Sukanya Samriddhi Yojana account is 21 years, or the date of marriage of the girl, whichever is lower.

Use below Sukanya Samriddhi Yojana calculator to know your interest:

Interest you will get after 21 years with Rs. 1000 per month deposits

Let us now see how much interest you will get on Rs. 1000 monthly deposits in Sukanya Samriddhi Yojana account for 21 years.

Below is the screenshot of calculations:

Sukanya Samriddhi Yojana Interest Calculation

As seen above, there are various columns that include:

Total Deposits: Deposits we make every year in Sukanya Samriddhi Yojana
Balance: This shows the balance in Sukanya Samriddhi Yojana account after the end of that year
Interest: Interest amount earned in that specific year

We can see that total of Rs. 5.39 lakh is the maturity amount after 21 years in Sukanya Samriddhi Yojana account when we consistently deposit Rs. 1000 in the account for 15 years.

We can also see the interest amount earned for the years between 16 to 21 without deposits. Total interest earned in Sukanya Samriddhi Yojana account is tax free.

How to get Maximum Interest in Sukanya Samriddhi Yojana?

You get maximum interest in Sukanya Samriddhi Yojana account by depositing maximum amount of Rs. 1.5 lakh at the start of financial year, which means between 1st April to 5th April.

This will help you to get maximum interest amount in Sukanya Samriddhi Yojana account every month and compounding will be done every year after the end of March month.

Conclusion

Sukanya Samriddhi Yojana interest calculation can be easily done using the online calculator or excel calculator above. You can accumulate total maturity amount of approx. Rs. 5.4 lakh in Sukanya Samriddhi Yojana with just Rs. 1000 monthly deposits consistently for 15 years.

We have considered fixed interest rate of 8.2% throughout the tenure for simplicity of calculation purpose. The interest rate in Sukanya Samriddhi Yojana is subjected to change after review in every quarter by Government of India.

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