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SSY Calculator

Sukanya Samriddhi Yojana Calculator - Calculate maturity amount for your daughter's future with current 8.2% interest rate.

Enter Details

₹
Min: ₹250/monthAnnual: ₹60.00 KMax: ₹12,500/month

Account can be opened for girl child up to age 10

Current SSY rate: 8.2% (Q1 FY 2024-25)

Sukanya Samriddhi Yojana: Deposit for 15 years, account matures after 21 years. 50% can be withdrawn after the girl turns 18 for higher education. Entire amount is tax-free under Section 80C.

Maturity Amount

₹28.73 LAt Maturity
Total Deposits₹9.00 L
Interest Earned₹19.73 L
Age at Maturity26 years

8.2%

Current Interest Rate

EEE Status

Exempt-Exempt-Exempt Tax

21 Years

Maturity Period

₹1.5L/year

Maximum Deposit

Year-wise Growth (First 10 Years)

YearGirl's AgeDepositInterestBalance
16 yrs₹60.00 K₹4.92 K₹64.92 K
27 yrs₹60.00 K₹10.24 K₹1.35 L
38 yrs₹60.00 K₹16.00 K₹2.11 L
49 yrs₹60.00 K₹22.24 K₹2.93 L
510 yrs₹60.00 K₹28.98 K₹3.82 L
611 yrs₹60.00 K₹36.27 K₹4.79 L
712 yrs₹60.00 K₹44.17 K₹5.83 L
813 yrs₹60.00 K₹52.71 K₹6.96 L
914 yrs₹60.00 K₹61.95 K₹8.17 L
1015 yrs₹60.00 K₹71.95 K₹9.49 L
Final (Year 21)₹9.00 L₹19.73 L₹28.73 L

What is SSY Calculator, and How Does it Help You

Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme launched under the 'Beti Bachao, Beti Padhao' campaign. It is designed to secure the financial future of a girl child, helping parents save for her higher education and marriage. SSY offers one of the highest interest rates among tax-saving schemes, combined with sovereign capital safety.

The SSY Calculator estimates the maturity amount, interest accumulated, and final payouts of your Sukanya Samriddhi account based on your monthly or annual contributions.

Girl Child Security

Plan dedicated savings for your daughter's future education and marriage expenses.

EEE Tax Exemptions

Model tax-free deposits, tax-free interest growth, and tax-free maturity payouts under Section 80C.

Maturity and Tenure Rules

Applies the official rules: deposit for 15 years, account matures after 21 years.

How Does the SSY Calculator Work?

The calculator simulates annual deposits made for 15 years, compounds interest annually at the government rate, and projects the balance until the 21-year maturity.

A = P * (1 + r/n)^(n*t)

P: Total annual deposits made in the SSY account (max ₹1.5 Lakh/year)
r: Annual interest rate set by government (currently 8.2% p.a.)
t: Total tenure from account opening (account matures in 21 years)
Deposit Period: Contributions are made for 15 years, after which the account earns interest without deposits

If you deposit ₹1,20,000 annually (₹10,000/month) for 15 years at the current interest rate of 8.2% p.a. The calculator projects that after 15 years, you stop depositing. The account continues to earn interest for another 6 years. At the end of 21 years, the maturity corpus will be approximately ₹55,44,792, with tax-free interest of ₹37,44,792.

How to Use SSY Calculator

Using the SSY Calculator is extremely simple and takes just a few seconds. Follow these steps:

1

Enter Monthly Deposit

Type in the monthly contribution amount (minimum ₹250, up to ₹12,500/month).

2

Set Girl Child's Age

Input your daughter's current age (account can be opened up to age 10).

3

Analyze Retirement Payout

View the total accumulated maturity amount at 21 years and the year-wise growth table.

Advantages of Using SSY Calculator

✓ Highest Guaranteed Returns

Earn high government-backed interest rates, superior to bank FDs and PPF.

✓ EEE Tax Exemptions

Enjoy tax benefits under Section 80C on deposits, with zero tax on interest and maturity.

✓ Dedicated Girl Child Fund

Ensure that the savings are locked in specifically for your daughter's key life milestones.

✓ Sovereign Guarantee

Capital safety is backed by the Government of India, ensuring zero default risk.

What is the Sukanya Samriddhi Yojana (SSY)?

The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme launched as part of the "Beti Bachao, Beti Padhao" campaign. It aims to encourage parents to build a fund for the future education and marriage expenses of their female child. It offers one of the highest interest rates among small savings schemes and comes with EEE (Exempt-Exempt-Exempt) tax benefits.

How to use this Calculator?

To estimate your maturity amount, simply enter your planned annual investment amount (up to ₹1.5 Lakhs) and the child's current age. Our SSY calculator automatically applies the current prevailing interest rate (8.2% for Q1 FY 2024-25) and calculates the total wealth accumulated over the 21-year maturity period, showing you exactly how much your investment will grow through compounding.

SSY vs Other Investment Options

FeatureSSYPPFBank FD
Interest Rate8.2% (Current)7.1%6.5% - 7.5%
Tax BenefitEEE (Fully Tax Free)EEE (Fully Tax Free)Taxable
Lock-in Period21 Years (or Marriage after 18)15 Years1 - 10 Years
EligibilityGirl Child below 10 yearsAny Indian CitizenAnyone

Important Rules

  • ⚠️
    Maximum Annual Limit: The maximum you can invest in an SSY account in a single financial year is ₹1,50,000.
  • ⚠️
    Number of Accounts: You can open a maximum of two accounts per family (one for each daughter). A third is only allowed in the case of twins/triplets.

Frequently Asked Questions

Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme launched in 2015 under "Beti Bachao, Beti Padhao" initiative for the girl child. Parents can open SSY account for daughters below 10 years of age. It offers one of the highest interest rates (8.2% for Q1 FY 2024-25) among small savings schemes with EEE tax benefits.
SSY account can be opened by: 1) Parents or legal guardians of a girl child, 2) Girl child must be below 10 years of age at account opening, 3) Maximum 2 accounts per family (one for each daughter), 4) Third account allowed only for twins/triplets. NRIs and PIOs are not eligible. Account can be opened at post offices or authorized banks.
Minimum deposit: ₹250 per year (initially was ₹1,000). Maximum deposit: ₹1,50,000 per financial year. You can deposit any amount between these limits in multiples of ₹50. Deposits can be made in lump sum or multiple installments throughout the year. Failure to deposit minimum amount attracts ₹50 penalty per year.
The SSY interest rate for Q1 FY 2024-25 (April-June 2024) is 8.2% per annum, compounded annually. The rate is reviewed quarterly by the government. SSY offers one of the highest returns among government-backed schemes, higher than PPF (7.1%) and bank FDs. Interest is credited annually on March 31st.
SSY account matures 21 years from the date of opening OR when the girl gets married after turning 18, whichever is earlier. Deposits are required only for the first 15 years. From year 16 to 21, no deposits needed but the balance continues earning interest. Full maturity amount can be withdrawn after 21 years.
SSY enjoys EEE (Exempt-Exempt-Exempt) tax status: 1) Deposits up to ₹1.5 lakh qualify for Section 80C deduction, 2) Interest earned is completely tax-free, 3) Maturity amount is tax-free. This makes SSY one of the most tax-efficient investment options for your daughter's future.
Partial withdrawal is allowed under specific conditions: 1) After girl turns 18 years old, 2) For higher education or marriage, 3) Maximum 50% of balance available at end of preceding financial year. Premature closure is allowed: after 5 years if girl gets married after 18, or in case of death or life-threatening illness of account holder.
If you fail to deposit minimum ₹250 in a financial year: 1) Account becomes "default account", 2) Penalty of ₹50 per year of default, 3) Account can be revived by paying pending minimum deposits + penalties, 4) Account continues to earn interest even in default status. Revival must be done before account completes 15 years.
Yes, SSY account can be transferred: 1) From one post office to another, 2) From post office to bank and vice versa, 3) Transfer is free if girl relocates for education/marriage. To transfer, submit application at current branch with proof of new address. The account number remains the same after transfer.
Key differences: 1) SSY offers higher interest (8.2%) vs PPF (7.1%), 2) SSY is only for girl child below 10 years, PPF is for anyone, 3) SSY matures in 21 years, PPF in 15 years, 4) SSY allows partial withdrawal after 18 years for education, PPF after 7 years, 5) Both have same ₹1.5L yearly limit and EEE tax benefits.
SSY account can be opened at: 1) Any post office in India, 2) Authorized public sector banks (SBI, PNB, BOB, etc.), 3) Some private banks (ICICI, HDFC, Axis). Documents required: Girl's birth certificate, ID proof and address proof of parent/guardian, passport-size photos. Initial deposit of minimum ₹250 required.
Optimal SSY strategy: 1) Deposit maximum ₹1.5 lakh annually for first 15 years to maximize corpus, 2) Deposit at the start of financial year (April) to earn full year's interest, 3) Combine with other investments for diversification, 4) Use maturity amount for daughter's higher education or marriage. Starting early maximizes compound interest benefits.