SSY Calculator

What is Sukanya Samriddhi Yojana (SSY)?

The Sukanya Samriddhi Yojana is a government-backed savings scheme launched as part of the "Beti Bachao, Beti Padhao" campaign. It encourages parents to build a fund for the future education and marriage expenses of their female child.

Key Rules of SSY

• Eligibility: Account can be opened by parents/guardians for a girl child below the age of 10.
• Deposit Limits: Minimum deposit is ₹250 and maximum is ₹1.5 Lakh per financial year.
• Tenure: You need to deposit money for 15 years. The account matures after 21 years from the date of opening.
• Tax Benefits: Like PPF, SSY falls under the EEE category. Deposits (up to ₹1.5L) get 80C deductions, and the interest and maturity amount are entirely tax-free.
• High Interest Rate: SSY typically offers higher interest rates compared to PPF and FDs. Currently, it is 8.2% p.a.

Example

Depositing ₹1,50,000/year for 15 years at 8.2% annual interest, then letting the balance grow untouched until the account matures at 21 years, can produce a maturity value well over ₹65 lakh.

Common Use Cases

FAQs

What is the SSY scheme?

Sukanya Samriddhi Yojana (SSY) is a government-backed small savings scheme launched under the "Beti Bachao, Beti Padhao" campaign. It lets parents or guardians open a savings account for a girl child below age 10 to build a fund for her future education and marriage expenses, combining a high interest rate with full tax exemption.

How is SSY interest calculated?

Interest is calculated annually at the government-notified rate (currently 8.2% p.a.) and compounded once a year, added on top of that year's balance plus deposits. This calculator applies the same annual compounding to your yearly investment across the 15-year deposit window and the remaining years the balance keeps earning interest until the account matures at 21 years — shown year-by-year in the chart above.

What are the benefits of an SSY account?

SSY typically offers a higher interest rate than PPF or fixed deposits, falls under the EEE (Exempt-Exempt-Exempt) tax category so deposits up to ₹1.5 lakh qualify for a Section 80C deduction, and both the interest earned and the maturity amount are entirely tax-free. It's also backed by the Government of India, making it a low-risk option for a daughter's long-term goals.

Can I withdraw before the account matures?

Partial withdrawal (up to 50%) is allowed once the girl turns 18, for higher education or marriage expenses. Full withdrawal happens at maturity, 21 years from account opening.