Educational Purpose Only: This calculator provides estimates for informational purposes. SSY interest rates are set by the government and may change quarterly.
Min: ₹250 / Max: ₹1,50,000 per year
Key Rules
- Account matures at age 21
- Deposits made for first 15 years only
- Interest compounded annually
How it works
Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme for the girl child in India. The account matures when the girl turns 21, but deposits can only be made for the first 15 years from account opening. After the 15th year, the balance continues to earn interest until maturity at age 21 — with no further deposits. The calculator iterates year by year, adding the annual deposit and compounding interest for each of the 15 deposit years, then continuing to compound for the remaining years until maturity.
What is Sukanya Samriddhi Yojana?
SSY is a small savings scheme run by the Government of India exclusively for a girl child. A parent or legal guardian can open the account at a post office or authorised bank any time before the girl turns 10 years old. Once opened, deposits can be made for 15 years from the date of account opening — after that, no further deposits are needed or allowed, but the balance keeps earning interest. The account fully matures 21 years after it was opened, or earlier if the girl marries after turning 18 (in which case the account is closed at that point). Each account has a minimum deposit of ₹250 and a maximum of ₹1,50,000 per financial year, and every rupee deposited qualifies for a deduction under Section 80C of the Income Tax Act, up to the ₹1.5 lakh annual limit.
Key features of SSY
Tax Benefits
Contributions qualify for Section 80C deduction up to ₹1.5 lakh. Interest earned and the maturity amount are fully tax-exempt (EEE category).
Deposit Limits
Minimum ₹250 and maximum ₹1,50,000 per year. Deposits must be made each year for 15 years; failing to deposit requires a penalty to regularise the account.
Maturity & Withdrawal
The account matures when the girl turns 21. Partial withdrawal of up to 50% is allowed once the girl turns 18 for higher education expenses.
Eligibility
An SSY account can be opened for a girl child below 10 years of age. A family can have a maximum of two SSY accounts (one per girl child, with exception for twins).
Worked example: ₹1,00,000 a year for 15 years
Say an account is opened for a newborn girl and ₹1,00,000 is deposited every year for the full 15 deposit years, at the current 8.2% p.a. rate compounded annually. Deposits stop after year 15, but the balance keeps compounding for another 6 years until the account matures at year 21. Total money deposited over those 15 years is a flat ₹15,00,000. Left to compound untouched for the remaining 6 years, the corpus grows to approximately ₹47-48 lakh by maturity — meaning roughly ₹32-33 lakh of that final amount is interest, not principal.
| Item | Approximate amount |
|---|---|
| Annual deposit | ₹1,00,000 (years 1 to 15) |
| Total deposited | ₹15,00,000 |
| Interest earned by maturity (year 21) | ~₹32-33 lakh |
| Maturity value (year 21) | ~₹47-48 lakh |
This example is illustrative only and assumes the 8.2% rate stays unchanged for all 21 years, which is unrealistic since the government revises the SSY rate every quarter. Use the calculator above with your own deposit amount and your daughter's current age to get a precise, up-to-date maturity estimate.
Why SSY's EEE tax status matters
SSY is one of the few savings instruments in India with full EEE (Exempt-Exempt-Exempt) tax treatment, which applies at all three stages of the investment. First, every deposit reduces your taxable income under Section 80C, up to ₹1.5 lakh a year — for someone in the 30% tax bracket, depositing the full ₹1,50,000 can lower their tax bill by roughly ₹46,800 (including cess) in that year alone. Second, the interest that accumulates year after year is entirely tax-free, unlike a bank fixed deposit where interest is added to your income and taxed at your slab rate. Third, the full maturity amount — principal plus interest — is exempt from tax when withdrawn. Very few products (PPF is the other well-known one) offer this three-way exemption.
SSY vs PPF for long-term goals
SSY and the Public Provident Fund (PPF)are often compared because both are government-backed, both offer 80C deduction, and both carry EEE tax status. The key difference is who they are for and what they are meant to fund. SSY can only be opened for a girl child under 10, is designed around funding her higher education or wedding expenses, and locks in for 21 years with restricted early withdrawal. PPF, by contrast, can be opened by anyone — for yourself, your spouse, or a minor child of either gender — and works as a general-purpose long-term savings and retirement account with a 15-year tenure (extendable in blocks of 5 years). If your goal is specifically a daughter's education or marriage, SSY's typically higher interest rate makes it the stronger choice; for broader, non-gender-specific long-term savings, PPF is more flexible.
Frequently Asked Questions
What is the current SSY interest rate?
The current Sukanya Samriddhi Yojana interest rate is 8.2% per annum, compounded annually. This rate is set by the Government of India and reviewed quarterly.
When can I withdraw from SSY?
Partial withdrawal of up to 50% of the balance is allowed once the girl turns 18, for higher education expenses. Full withdrawal (maturity) happens when the girl turns 21. The account can also be closed prematurely on marriage of the girl after she turns 18.
What are the tax benefits of SSY?
SSY has EEE (Exempt-Exempt-Exempt) tax status: (1) Contributions up to ₹1.5 lakh qualify for deduction under Section 80C, (2) Interest earned is completely tax-free, and (3) The maturity amount is fully tax-exempt.
What happens if I miss a deposit in SSY?
If you miss the minimum annual deposit of ₹250, the account becomes irregular. To regularise it, you must pay a penalty of ₹50 per default year along with the minimum deposit amount for those years.
Can I open more than one SSY account?
A family can open a maximum of two SSY accounts — one for each girl child. In the case of twin or triplet girls born in the second pregnancy, a third account can be opened with a certificate from a doctor.
Related Calculators
This calculator is for educational purposes only. SSY interest rates are announced by the Government of India quarterly and may change. Always check the current rate with your bank or post office before making a deposit decision.