Sukanya Samriddhi Yojana - For girl child prosperity
SSY is a government-backed savings scheme launched as part of the 'Beti Bachao, Beti Padhao' campaign. It is dedicated to the girl child, offering a high interest rate and tax benefits.
Parents can open an account for a girl child below 10 years of age. The account matures after 21 years from the date of opening.
The calculator helps parents forecast the maturity amount they can accumulate for their daughter's education or marriage.
It considers the yearly contribution and the current interest rate (notified by the government quarterly) to compute the total interest earned and final value.