Sukanya Samriddhi calculator: ₹12,500 monthly saving may grow up to ₹64 lakh

Sukanya Samriddhi Yojana (SSY) is one of the government-backed small saving schemes in India 

SSY scheme offers highest tax-free return with EEE (exempt-exempt-exempt) status. 

One can deposit up to ₹1.5 lakh in one SSY account in one financial year and can claim tax exemption on entire ₹1.5 lakh investment under Section 80C of the income tax act, 1961. 

The investment into an SSY account makes for a great long-term investment scheme as the amount gets compounded annually. 

An individual can make a minimum deposit of Rs 250 per year in an SSY account. The maximum deposit limit is fixed at Rs 1.5 lakh in a year. 

Anyone want to open SSY account one can choose physical way by post office or open account through online by SBI, HDFC, Axis, Kotak Bank all other leading banks.

There is no tax on SSY account interest.

SSY interest rate for Q2FY23 is 7.6 per cent and it is still much above the average rate of inflation. 

Assuming 7.60 per cent flat SSY interest rate for the entire period, the SSY calculator suggests that one would get around ₹64 lakh maturity amount 

If a person opens SSY account at one year of its girl child, then he or she would be able to invest in the account for next 14 years whereas full withdrawal will be allowed after 21 years of girl child. 

So, if an investor is looking for a saving instrument that can ensure better financial future of one's girl child, SSY account is a good option because it is risk-free