Sukanya Samriddhi Yojana Calculator
Calculate SSY maturity amount for your daughter. Plan savings for girl child education and marriage under Sukanya Samriddhi Yojana.
About this calculator
Sukanya Samriddhi Yojana is a government savings scheme for the girl child. A parent or guardian can open an account for a girl below the age of 10, deposit up to ₹1.5 lakh a year for 15 years and receive the full balance when the account matures 21 years after opening. The interest is tax-free, and deposits earn the Section 80C deduction in the old regime.
The calculator takes the annual deposit, the girl's current age and the interest rate and projects the maturity value. It shows the total deposited, the interest earned and the age at which the account matures.
How to use it
- Enter your Annual Investment, between ₹250 and ₹1,50,000.
- Enter the Girl's Current Age. The account can be opened only up to age 10.
- Enter the SSY Interest Rate. It was 8.2% at the time of writing and is reset quarterly.
- Press Calculate SSY Returns.
How the balance grows
Deposits are made for the first 15 years. From year 16 to year 21 no deposits are needed, but the balance keeps earning interest. Balancey = (Balancey−1 + Deposit) × (1 + rate) for the deposit years and Balance × (1 + rate) for the last six.
Worked example
₹1,50,000 a year at 8.2%, account opened at age 2
| Total deposited (15 years) | ₹22,50,000 |
| Interest earned | ₹49,32,119 |
| Maturity amount at age 23 | ₹71,82,119 |
Interest is more than twice the deposits. The last six years add so much because the whole balance keeps compounding without further deposits.
Tips and common mistakes
- Open the account while she is young. The earlier the start, the longer the compounding.
- Deposit before the 5th of the month to earn that month's interest.
- Up to 50% can be withdrawn for higher education after she turns 18.
- The account can be closed on her marriage after age 18.
- Check the current quarterly rate on the India Post or bank website.
Frequently asked questions
What is the SSY interest rate?
The Government notifies it every quarter. It has been 8.2% for a long period and is among the highest of small-savings schemes.
When does the account mature?
21 years after opening. Deposits stop after 15 years.
What is the maximum deposit?
₹1,50,000 per financial year per account. The minimum is ₹250.
How many accounts can I open?
One account per girl, and normally a maximum of two daughters per family.
Is SSY tax-free?
Yes, under EEE: deposits qualify for 80C in the old regime, the interest is tax-free and so is the maturity amount.
Can I withdraw earlier?
Partial withdrawal of up to 50% is allowed after she turns 18, for education or marriage.