SSY calculator: how maturity value changes with different deposits

Investing in Sukanya Samriddhi Yojana (SSY) is a popular choice for securing a girl child’s future in India. Understanding how the maturity value fluctuates with varying deposit amounts is essential for making informed decisions. The SSY Calculator is a useful tool that helps investors project returns, factoring in the current Sukanya Samriddhi Yojana interest rate. This allows parents and guardians to estimate the corpus they will receive at maturity, enhancing financial planning for their daughter’s education or marriage. 

Working of the SSY calculator

An SSY calculator requires inputs such as the deposit amount, duration of investment (which typically varies from 15 to 21 years), and the applicable Sukanya Samriddhi Yojana interest rate. It then calculates the future maturity value by compounding the interest annually on the amounts deposited. By tweaking the monthly or yearly deposit amounts, investors can see how it impacts the total corpus on maturity, helping in better planning.

How different deposit amounts affect maturity value

The maturity amount in the Sukanya Samriddhi Yojana depends predominantly on the deposit amount and the tenure for which the scheme is held.

- Regular minimum deposits: The minimum deposit required is Rs. 250 per annum, which generates modest returns but ensures the account remains active.

- Higher deposits: Increasing the deposit amount regularly boosts the maturity value significantly due to the compounding effect on larger sums.

- Maximum deposit limit: The scheme permits a maximum annual deposit of Rs. 1.5 lakh, allowing investors to maximise returns within this limit.

Using the SSY calculator, one can simulate deposit scenarios — for example, investing Rs. 500 monthly versus Rs. 1,000 monthly — showcasing how the corpus grows differently due to compound interest applied on the deposits every year.

Conclusion

Utilising an SSY calculator is crucial for understanding how the maturity value changes with different deposit amounts under the Sukanya Samriddhi Yojana. The current Sukanya Samriddhi Yojana interest rate ensures that disciplined investments lead to meaningful financial growth for a girl child’s future. For enhanced financial security and flexibility, integrating investments like Bajaj Finance FD alongside SSY offers a balanced saving approach.

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