What is the Sukanya Samriddhi Yojana (SSY)?
The Sukanya Samriddhi Yojana (SSY) is a small savings scheme of the Government of India for the girl child, launched under the Beti Bachao Beti Padhao campaign. A parent or legal guardian opens a Sukanya Samriddhi Account (SSA) in a post office or authorised bank and deposits money every year. The balance grows at a government-notified interest rate, currently 8.2% per year, and is paid out when the girl grows up, to fund her education and marriage.
SSY is popular because it combines three things few products offer together: a sovereign guarantee, one of the highest rates among small savings schemes and complete tax exemption (EEE) on deposit, interest and maturity. This Sukanya Samriddhi calculator shows exactly how much your yearly deposit can grow by the time the account matures.
SSY Account Rules, Eligibility and Deposit Limits
| Feature | Rule |
|---|---|
| Who can open it | Parent or legal guardian of a girl child aged 10 years or less |
| Number of accounts | One account per girl; up to two girls per family (three if the second birth is twins or triplets) |
| Minimum deposit | ₹250 in a financial year |
| Maximum deposit | ₹1,50,000 in a financial year (in any number of deposits) |
| Deposit period | 15 years from the date of opening |
| Maturity | 21 years from the date of opening |
| Interest rate | 8.2% p.a. (revised every quarter by the Government) |
| Where to open | Post office or authorised public and private sector banks |
If you miss the minimum deposit in a year, the account becomes inactive. You can revive it by paying the minimum amount for that year plus a small default penalty. Deposits stop after 15 years, but interest continues to be paid until the account matures in year 21.
How is SSY Interest Calculated?
SSY interest is calculated every month on the lowest balance between the 5th and the last day of the month, and credited to the account at the end of each financial year. The credited interest then earns interest from the next year, which is why the corpus grows faster in the later years.
To keep the calculation simple, this calculator assumes the full yearly deposit is made at the start of each financial year (on or before 5 April), which gives the maximum interest. It applies the formula:
r = annual SSY interest rate (for example 8.2% = 0.082)
For the six years after deposits end, the balance simply grows at Balance × (1 + r) every year until maturity. Because the Government can change the SSY rate every quarter, treat any long-term result as an estimate at today’s rate.
SSY Maturity Amount: Worked Examples
The table below uses an interest rate of 8.2% and a girl aged 1 at the time of opening. The deposit is made every year for 15 years and the account matures in year 21.
| Yearly deposit | Total deposited (15 yrs) | Interest earned | Maturity amount |
|---|---|---|---|
| ₹12,000 (₹1,000 a month) | ₹1,80,000 | ₹3,94,570 | ₹5,74,570 |
| ₹50,000 | ₹7,50,000 | ₹16,44,040 | ₹23,94,040 |
| ₹1,00,000 | ₹15,00,000 | ₹32,88,079 | ₹47,88,079 |
| ₹1,50,000 (maximum) | ₹22,50,000 | ₹49,32,119 | ₹71,82,119 |
Example: ₹1.5 lakh every year
Depositing the maximum ₹1,50,000 a year for 15 years means you put in ₹22.5 lakh. At 8.2% the account grows to about ₹71.82 lakh at maturity, of which ₹49.32 lakh is tax-free interest. More than two-thirds of the final amount is interest, which shows the benefit of starting early and staying invested for the full 21 years.
Tip: A monthly SSY amount of ₹1,000 to ₹12,500 is the easiest way to reach the yearly limit. Set an auto-debit so that a deposit is never missed.
SSY Tax Benefits (EEE Status)
SSY enjoys the rare EEE (Exempt-Exempt-Exempt) tax status:
- Deposit: eligible for a deduction of up to ₹1.5 lakh under Section 80C (available only under the old tax regime).
- Interest: the interest earned every year is completely tax-free.
- Maturity: the amount received at maturity or on closure is tax-free.
Under the new tax regime you do not get the Section 80C deduction, but the interest and maturity remain tax-free. This makes SSY attractive even if you have chosen the new regime. If you are comparing it with other tax-free options, see our PPF calculator and VPF calculator.
Partial Withdrawal, Premature Closure and Maturity
- Partial withdrawal: after the girl turns 18 or passes Class 10 (whichever is earlier), up to 50% of the balance at the end of the previous financial year can be withdrawn for higher education or marriage, in one lump sum or instalments.
- Closure on marriage: the account can be closed after the girl turns 18 if she gets married.
- Closure on exceptional grounds: permitted on the death of the account holder, extreme medical conditions or the guardian’s death, as per the scheme rules.
- Maturity: the account closes 21 years after opening and the full balance is paid to the account holder.
- Transfer: the account can be moved between post offices and banks anywhere in India.
How to Use This SSY Calculator
- Enter the yearly deposit you plan to make, between ₹1,000 and ₹1,50,000.
- Set the age of the girl child when the account will be opened (0 to 10 years).
- The calculator instantly shows total deposits, total interest and the tax-free maturity value with a year-wise chart.
- Use Preview & Save to download an A4 report of your plan, or share it with your family.
The rate field starts with the current SSY rate of 8.2%. You can change it to test how a lower or higher rate would affect the result.
SSY vs PPF vs Fixed Deposit for a Daughter
| SSY | PPF | Bank FD | |
|---|---|---|---|
| Interest rate | 8.2% | 7.1% | About 6% to 7.5% |
| Tax on interest | Tax-free | Tax-free | Taxable |
| Lock-in | 21 years (partial withdrawal after 18) | 15 years | Chosen tenure |
| Yearly limit | ₹1.5 lakh | ₹1.5 lakh | No limit |
| Meant for | Girl child’s education and marriage | Anyone’s long-term savings | Short and medium goals |
SSY usually wins for a daughter’s long-term goal because of its higher rate. You can run both SSY and PPF in the same year, since the ₹1.5 lakh limit is separate for each scheme (the Section 80C ceiling is shared under the old regime).
Common SSY Mistakes to Avoid
- Missing the yearly minimum deposit and letting the account go inactive.
- Depositing after the 5th of the month, which reduces that month’s interest.
- Forgetting that deposits stop after 15 years; the extra 6 years are only for interest growth.
- Assuming today’s rate will never change. The rate is reviewed every quarter.
- Opening the account late. Every year of delay lowers the final corpus noticeably.
Planning Your Daughter’s Education with SSY
A girl’s higher education may cost ₹20 lakh to ₹50 lakh or more in 18 years. SSY alone can build a large part: ₹1,00,000 a year at 8.2% grows to about ₹47.9 lakh at maturity. Use SSY for the safe, tax-free core and add a SIP for growth, since education costs rise faster than normal inflation.
Tip: Withdrawals of up to 50% are allowed once your daughter turns 18, which is usually just when college fees start.