Sukanya Samriddhi Yojana (SSY) Calculator
Plan your daughter's future with SSY — India's best small savings scheme offering 8.2% p.a. (FY 2024-25), tax-free returns and EEE status.
Calculate SSY Maturity Amount
SSY account can be opened for a girl child below 10 years of age. Deposits for 15 years; account matures when she turns 21.
What is Sukanya Samriddhi Yojana (SSY)?
SSY is a government-backed small savings scheme launched under the Beti Bachao Beti Padhao initiative. It offers one of the highest interest rates among small savings schemes and complete EEE (Exempt-Exempt-Exempt) tax status — making it ideal for your daughter's education and marriage planning.
Key SSY Features
- Interest Rate: 8.2% p.a. (Q1 FY 2024-25), revised quarterly by the government
- Minimum Deposit: ₹250 per year | Maximum: ₹1,50,000 per year
- Deposit Period: 15 years from account opening
- Maturity: Account matures when girl turns 21
- Eligibility: Girl child below 10 years; max 2 accounts per family (3 in case of twins)
- Where to open: Any post office or authorised bank branch
SSY Tax Benefits (EEE)
- Deposits: Eligible for Section 80C deduction (up to ₹1.5L/year)
- Interest: Fully exempt from income tax during accumulation
- Maturity: Entire maturity amount is tax-free
Partial Withdrawal & Premature Closure
- Partial withdrawal: Up to 50% of balance at the end of previous financial year — allowed when girl turns 18, for education expenses
- Premature closure: Allowed after 5 years in case of girl's death or life-threatening illness
- Account transfer: Can be transferred anywhere in India if the family relocates
How SSY Returns Are Calculated
Interest in a Sukanya Samriddhi account is compounded annually on the balance, but you only deposit for the first 15 years — yet the account keeps earning interest until it matures when your daughter turns 21. This means the final 6 years grow purely through compounding with no fresh deposits, which is where a large part of the corpus is built. As with PPF, depositing early in the financial year captures a full year of interest.
Worked Example
If you deposit the maximum ₹1,50,000 every year for 15 years at 8.2%, your total contributions of ₹22,50,000 can grow to approximately ₹69 lakh by maturity at age 21 — with the majority of the gain coming from tax-free compounding. Because SSY enjoys full EEE status, none of the contributions, interest, or final maturity amount is taxed, giving it one of the highest effective returns of any guaranteed scheme in India.
SSY vs PPF for Your Daughter's Future
Both are government-backed EEE schemes, but SSY currently offers a higher interest rate and is purpose-built for a girl child's education and marriage. The trade-offs are that SSY can only be opened for a girl under 10, allows a maximum of two accounts per family, and locks funds until age 18 (for partial education withdrawal) or 21 (maturity). PPF is more flexible — anyone can open it and partial withdrawals start after 7 years. Many parents use SSY for its higher rate and dedicated purpose, while keeping a PPF for general long-term savings.
Frequently Asked Questions — SSY Calculator
An SSY account can be opened by a parent or legal guardian for a girl child who is below 10 years of age. A maximum of two accounts are allowed per family — one for each girl child. A third account is permitted in the case of twin or triplet girls born in the second birth. The account can be opened at any post office or authorised bank branch.
The SSY interest rate for Q1 FY 2024-25 is 8.2% per annum, compounded annually. The rate is declared by the Government of India each quarter and is one of the highest among all small savings schemes. It has historically ranged between 7.6% and 9.2%.
Deposits in SSY must be made for 15 years from the date of account opening, not from the girl's birth. After 15 years, the account continues to earn interest at the applicable rate until maturity. The account matures when the girl child turns 21 years of age.
Partial withdrawal of up to 50% of the balance at the end of the preceding financial year is allowed when the girl turns 18, specifically for higher education expenses. Premature closure is allowed after 5 years only in specific circumstances: death of the account holder, life-threatening illness of the girl, or extreme compassionate grounds approved by an authority.
If you fail to deposit the minimum amount of ₹250 in any financial year, the account is treated as irregular/defaulted. You can reactivate it by paying ₹50 as penalty per defaulted year, along with the minimum deposit amount for each such year. Defaults must be regularised to keep the account active and interest-earning.
SSY currently offers a higher interest rate (8.2%) than PPF (7.1%), making it better for wealth accumulation for a girl child. Both have EEE tax status. However, SSY has a stricter lock-in (maturity at girl's age 21 vs 15 years for PPF) and a higher minimum deposit penalty. SSY is specifically designed for a girl's education and marriage — PPF is more flexible for general long-term savings.