Sukanya Samriddhi Yojana (SSY) Calculator
Estimate the maturity value of a Sukanya Samriddhi Yojana account. Deposits run for 15 years; the account matures 21 years after opening.
Current SSY rate is 8.2% p.a. (compounded yearly). Rates are revised quarterly by the Government.
What Is a Sukanya Samriddhi Yojana (SSY) Calculator?
The Sukanya Samriddhi Yojana (SSY) is a Government of India small-savings scheme launched under the Beti Bachao Beti Padhao campaign to secure the future of a girl child. A parent or guardian can open an SSY account for a girl below the age of 10, and the scheme is designed to build a corpus for her higher education or marriage.
An SSY Calculator helps you estimate the maturity amount you will receive when the account closes, based on your yearly deposit, the current interest rate of 8.2% per annum and the scheme rules. You deposit money for 15 years, but the account continues to earn interest and matures 21 years after it was opened. SSY enjoys EEE (Exempt-Exempt-Exempt) tax status, so deposits qualify for deduction under Section 80C, and both the interest and the maturity amount are fully tax-free.
SSY Maturity Formula and How It Works
Interest in SSY is compounded annually. You make deposits every year for the first 15 years, but the corpus keeps compounding until the account matures at the end of the 21st year. Each yearly deposit earns compound interest for the number of years it stays invested. The future value of a series of equal annual deposits is calculated using:
M = P × [((1 + i)n − 1) ÷ i] × (1 + i)
Where:
- M = maturity amount
- P = yearly deposit
- i = annual interest rate as a decimal (0.082)
- n = number of deposit years
Key scheme rules to remember:
- You must deposit a minimum of ₹250 and a maximum of ₹1.5 lakh per financial year.
- Deposits are made for 15 years from the date of opening.
- The account matures 21 years after opening, and interest continues to accrue on the balance even during the non-deposit years.
Worked Example
Suppose you open an SSY account for your daughter and deposit ₹50,000 every year for 15 years at the current rate of 8.2% per annum.
Total deposited over 15 years = ₹50,000 × 15 = ₹7,50,000.
Because the account keeps compounding annually until the 21st year, the maturity value works out to approximately ₹23.94 lakh. That means you earn around ₹16.44 lakh in completely tax-free interest on a total investment of just ₹7.5 lakh.
If you deposited the full ₹1.5 lakh a year at the same rate, your maturity corpus would be several times larger. Our SSY Calculator does this math instantly, so you can plan exactly how much to set aside each year to reach your goal for your daughter.
Tax Benefits and Withdrawal Rules
SSY is one of the most tax-efficient instruments available to Indian families:
- Section 80C deduction: Deposits up to ₹1.5 lakh per year qualify for deduction from your taxable income.
- Tax-free interest: The interest earned every year is fully exempt from income tax.
- Tax-free maturity: The entire maturity amount is exempt, giving SSY full EEE status.
- Partial withdrawal: Once the girl turns 18, up to 50% of the balance can be withdrawn for her higher education.
- Premature closure: Allowed for the marriage of the account holder after she turns 18, or in other specified situations.
Always verify the latest notified interest rate on the official India Post or your bank website, since the rate is reviewed every quarter.
Frequently Asked Questions
The current Sukanya Samriddhi Yojana interest rate is 8.2% per annum, compounded annually. The rate is set by the Government of India and reviewed every quarter, so always check the latest notified rate before relying on a calculation.
You make deposits for 15 years from the date the account is opened. The account itself matures 21 years after opening, and the balance continues to earn interest during the six non-deposit years.
You must deposit at least ₹250 in a financial year to keep the account active, and you can deposit a maximum of ₹1.5 lakh per financial year. Deposits can be made as a lump sum or in instalments.
No. SSY has EEE (Exempt-Exempt-Exempt) status. Your deposits qualify for a Section 80C deduction, the interest earned is tax-free, and the maturity amount is fully exempt from income tax.
A parent or legal guardian can open an SSY account for a girl child below the age of 10. Only one account is allowed per girl child, and a family can open accounts for a maximum of two daughters (with an exception for twins or triplets).
Yes, partial withdrawal of up to 50% of the balance is allowed once the girl turns 18, mainly for her higher education. Premature closure is also permitted for her marriage after she turns 18 or in other specified circumstances.