Sukanya Samriddhi Yojana Calculator
| Year | Phase | Deposit (₹) | Interest (₹) | Balance (₹) |
What This Tool Does
This calculator estimates the maturity value of a Sukanya Samriddhi Yojana account based on the annual deposit amount and the girl child's current age. Enter the yearly investment and the girl's age, and it returns the total amount invested, total interest earned, maturity year, and final corpus. It helps parents plan how much to deposit each year to build a sufficient fund for their daughter's education or marriage.
You can also use this BMR Calculator.
How It's Calculated
SSY uses annual compounding. The standard compound interest formula applies:
A = P × (1 + r/n)^(n×t)
Where:
- A = maturity amount
- P = principal (annual deposit)
- r = annual interest rate (currently 8.2%)
- n = compounding frequency (1 for annual)
- t = remaining years for each deposit
Each year's deposit compounds separately for the number of years remaining until maturity, and all values are summed to produce the final corpus.
Worked Example:
- Annual deposit: ₹50,000
- Girl's current age: 5 years
- Account matures when she turns 21 (after 21 years from account opening, deposits made for 15 years)
- Interest rate: 8.2%
Approximate results:
- Total invested (15 years × ₹50,000): ₹7,50,000
- Estimated interest earned: ~₹15,59,195
- Maturity value: ~₹23,09,195
The large gap between amount invested and maturity value reflects 21 years of compounding — the last 6 years (years 15 to 21) earn interest on the accumulated corpus without requiring any fresh deposits.
Key Rules of the SSY Scheme
Tenure: The account matures 21 years from the date of opening, regardless of the girl's age at the time. Deposits must be made for the first 15 years only — the account continues earning interest in years 16 to 21 without any contribution required.
Deposit limits:
- Minimum: ₹250 per year (account becomes inactive if this is not deposited)
- Maximum: ₹1.50 lakh per year
- Deposits can be made in lump sum or in instalments — no limit on the number of deposits per year
Age eligibility: The account must be opened before the girl turns 10. A girl child can only have one account in her name, and a maximum of two accounts per family (one per girl child) — extended to three in the case of twin or triplet girls at the second birth.
Account reactivation: If the minimum annual deposit is missed, the account becomes inactive. It can be reactivated by paying ₹250 for each year the deposit was missed, plus a penalty of ₹50 per missed year.
Tax Benefits
SSY is classified as an EEE — Exempt, Exempt, Exempt — investment:
- Contributions: Annual deposits up to ₹1.50 lakh qualify for deduction under Section 80C (applicable under the old tax regime)
- Interest: Interest earned every year is fully tax-free
- Maturity: The entire corpus withdrawn at maturity is tax-free
This triple exemption makes SSY one of the most tax-efficient savings instruments available for a girl child's future — particularly for parents in higher tax brackets where the effective post-tax return is significantly above the stated rate.
Withdrawal Rules
At maturity (age 21): The full corpus can be withdrawn by the girl child on producing a withdrawal application, identity proof, address proof, and citizenship documents.
Partial withdrawal for education: After the girl turns 18 and clears Class 10, up to 50% of the balance at the end of the previous financial year can be withdrawn for higher education expenses. This withdrawal requires proof of admission and fee receipts.
Premature closure for marriage: The account can be closed prematurely when the girl turns 18 and is getting married. An affidavit confirming she is of legal age is required. Closure cannot be done more than one month before or three months after the wedding date.
Premature closure on other grounds: Early closure is permitted in cases of the account holder's death, or on medical grounds for life-threatening illness of the account holder or guardian. In such cases, interest is paid at the post office savings rate rather than the SSY rate.
Edge Cases and Special Rules
Interest rate changes: The SSY interest rate is set by the Government of India quarterly, similar to other small savings schemes. The current rate is 8.2%. If the rate changes during the account tenure, the calculator's projection will differ from actual returns for the remaining period. Recalculate whenever the rate is revised.
Start age matters significantly: Opening the account earlier gives more years of compounding. A deposit started when the girl is 1 year old matures when she is 22 — giving the full 21-year benefit. Starting at age 8 means the account matures at 29, but deposits must still stop after 15 years.
Deposits in the girl's name: The SSY account is in the girl child's name. Upon turning 18, she becomes the primary account operator. The guardian operates the account until then.
Banks and post offices: SSY accounts are available at authorised commercial banks including SBI, HDFC, ICICI, Axis, Canara, and Union Bank, as well as all India Post branches. The interest rate is uniform across all these institutions — the choice of institution does not affect the return.
Who Uses This
- Parents of newborns or young daughters who want to start early and project the corpus available at the girl's age 18 or 21
- Guardians comparing SSY with PPF or FD who want to see projected returns side by side before deciding where to invest for a daughter's future
- Anyone already contributing to SSY who wants to check whether their current annual deposit is on track to meet a target corpus
- Parents planning for education costs who want to align the maturity year with expected college admission year
- Tax planners looking for additional Section 80C instruments beyond EPF and PPF
SSY vs. PPF
Both SSY and PPF are government-backed, EEE-classified long-term savings instruments. The key differences:
SSY offers a higher interest rate (currently 8.2% vs PPF's 7.1%), is exclusively for a girl child, has a 21-year maturity tied to the child's age, allows deposits for only 15 years, and has a maximum annual deposit of ₹1.50 lakh.
PPF is open to anyone, has a 15-year tenure extendable in 5-year blocks, allows deposits throughout the tenure, and has the same ₹1.50 lakh annual maximum.
For parents with a girl child, SSY's higher rate makes it the preferred choice over PPF for this specific goal — many families use both, maxing out SSY first and using PPF for additional savings.
FAQ
What is the minimum amount to open an SSY account?
The minimum deposit to open an SSY account is ₹250. The minimum annual deposit to keep the account active is also ₹250.
How many years do I need to deposit into SSY?
Deposits must be made for 15 years from the date of account opening. After that, no further deposits are needed — the account continues earning interest until it matures at 21 years.
Can I deposit monthly into SSY instead of yearly?
Yes. SSY allows deposits in any number of instalments per year — monthly, quarterly, or as a lump sum — as long as the total does not exceed ₹1.50 lakh in the financial year and the minimum ₹250 annual contribution is met.
What happens to the SSY account if the girl gets married before 21?
The account can be closed prematurely at marriage if the girl is 18 or older. If she does not close it, the account continues until 21 and the corpus is paid to her at maturity.
Can an NRI open an SSY account?
No. SSY is available only for resident Indian girls. If the account holder becomes an NRI or loses Indian citizenship after opening the account, the account is closed and interest from the date of status change is paid at the post office savings rate.
A Note on Results
All projections from this calculator are based on the current SSY interest rate of 8.2% and assume the rate remains constant throughout the tenure. Actual maturity values will vary if the government revises the rate. Use these figures for planning purposes and review your projections whenever the SSY rate is updated. For account-specific details, contact your bank branch or post office where the account is held.