ganak.appSukanya Samriddhi Yojana Calculator
Calculate Sukanya Samriddhi Yojana (SSY) maturity amount for girl child savings in India. Estimate total returns at age 21, plan yearly deposits (₹250 to ₹1.5 lakh), and understand partial withdrawal rules at age 18. Current SSY interest rate: 8.2% p.a. Among the highest rates among small savings schemes with Section 80C tax benefits. Essential for daughter's education and marriage planning.
Assumes Apr 1st deposit for max returns
Withdrawal & Premature Closure
Eligible withdrawal limits and closure norms effective from 2042 (Age 18)
Allowed after age 18 or passing 10th grade. Max 50% of balance available. Can be withdrawn in one lump sum or up to 5 annual installments.
Full premature closure allowed after age 18. Application can be made 1 month before or up to 3 months after marriage date.
Year-wise SSY Growth
21-year breakdown: 15 years deposit + 6 years growth only
| Year | Age | Opening | Deposit | Interest | Closing |
|---|---|---|---|---|---|
| 2024 | 0 | ₹0 | ₹50,000 | ₹4,100 | ₹54,100 |
| 2025 | 1 | ₹54,100 | ₹50,000 | ₹8,536 | ₹1,12,636 |
| 2026 | 2 | ₹1,12,636 | ₹50,000 | ₹13,336 | ₹1,75,972 |
| 2027 | 3 | ₹1,75,972 | ₹50,000 | ₹18,530 | ₹2,44,502 |
| 2028 | 4 | ₹2,44,502 | ₹50,000 | ₹24,149 | ₹3,18,651 |
| 2029 | 5 | ₹3,18,651 | ₹50,000 | ₹30,229 | ₹3,98,880 |
| 2030 | 6 | ₹3,98,880 | ₹50,000 | ₹36,808 | ₹4,85,688 |
| 2031 | 7 | ₹4,85,688 | ₹50,000 | ₹43,926 | ₹5,79,614 |
| 2032 | 8 | ₹5,79,614 | ₹50,000 | ₹51,628 | ₹6,81,242 |
| 2033 | 9 | ₹6,81,242 | ₹50,000 | ₹59,962 | ₹7,91,204 |
| 2034 | 10 | ₹7,91,204 | ₹50,000 | ₹68,979 | ₹9,10,183 |
| 2035 | 11 | ₹9,10,183 | ₹50,000 | ₹78,735 | ₹10,38,918 |
| 2036 | 12 | ₹10,38,918 | ₹50,000 | ₹89,291 | ₹11,78,209 |
| 2037 | 13 | ₹11,78,209 | ₹50,000 | ₹1,00,713 | ₹13,28,922 |
| 2038 | 14 | ₹13,28,922 | ₹50,000 | ₹1,13,072 | ₹14,91,994 |
| 2039 | 15 | ₹14,91,994 | — | ₹1,22,344 | ₹16,14,338 |
| 2040 | 16 | ₹16,14,338 | — | ₹1,32,376 | ₹17,46,714 |
| 2041 | 17 | ₹17,46,714 | — | ₹1,43,231 | ₹18,89,945 |
| 2042 | 18 | ₹18,89,945 | — | ₹1,54,975 | ₹20,44,920 |
| 2043 | 19 | ₹20,44,920 | — | ₹1,67,683 | ₹22,12,603 |
| 2044 | 20 | ₹22,12,603 | — | ₹1,81,433 | ₹23,94,036 |
What is Sukanya Samriddhi Yojana (SSY)?
A government savings scheme for the girl child
Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme launched in 2015 under the "Beti Bachao, Beti Padhao" campaign. It is specifically designed to secure the financial future of a girl child in India.
The scheme offers one of the highest interest rates among small savings schemes (this calculator uses 8.2% p.a.; rates are revised quarterly) and has EEE treatment: eligible contribution deduction under Section 80C, with eligible interest and maturity exempt under Section 10(11A). Parents or guardians can open an SSY account for a girl child from birth until she turns 10.
- Eligibility: Girl child aged 0-10 years
- Minimum deposit: ₹250 per year
- Maximum deposit: ₹1,50,000 per year
- Account maturity: 21 years from opening
- Tax status: EEE (completely tax-free)
Maximum Compounding Power
Tips to maximize your SSY investment returns
Starting an SSY account at age 0 gives you the full 21 years of compounding. This is the ideal time to start investing for your daughter's future.
- Even the minimum deposit of ₹250/year will grow significantly
- Interest compounds for the full 21 years
- You have 15 years to build the corpus through deposits
- At 8.2% p.a., money roughly triples in 15 years
How SSY Works
The 21-year deposit and growth journey explained
The 21-Year Journey:
Years 1-15: Deposit Phase
You can make deposits during the first 15 years after opening the account. The minimum yearly deposit is ₹250 and maximum is ₹1,50,000. Missing a deposit attracts a penalty of ₹50 plus the minimum deposit.
Years 16-21: Growth Phase
After year 15, no more deposits are allowed. However, the accumulated balance continues to earn interest at the prevailing rate until maturity at year 21. This is where compound interest significantly grows your corpus.
Maturity
The account matures 21 years from the date of opening, regardless of the girl's age at opening. The entire maturity amount (principal + interest) is paid to the account holder or the girl if she is 18 or older.
SSY Interest Calculation Explained
Annual compounding formula and current interest rate
How This Calculator Works:
This calculator applies year-wise compounding with annual deposit phases and yearly rounding: deposit (years 1–15) → interest credit → closing balance.
Each year, the deposit is added, then interest is calculated on the full balance and rounded to the nearest rupee. After year 15, only interest accrues until maturity at year 21.
Key Points:
- Interest is compounded annually
- Interest rate is reviewed quarterly by the government
- Current rate: 8.2% p.a.
- Interest is calculated on the monthly minimum balance between 5th and last day
- Deposit before 5th of month for maximum interest that month
Tax Benefits of SSY (EEE Status)
Triple tax exemption under Section 80C and beyond
SSY enjoys the coveted EEE (Exempt-Exempt-Exempt) tax status, making it one of the most tax-efficient investment options in India.
Comparison: Fixed Deposit interest is fully taxable. A 7% FD for someone in 30% tax bracket effectively yields only ~4.9%. SSY's 8.2% is the actual return you get.
SSY Withdrawal Rules
Partial withdrawal for education and premature closure
Partial Withdrawal (Education)
Up to 50% of the balance at the end of the preceding financial year can be withdrawn for higher education expenses. This is allowed once the girl turns 18 OR passes 10th Standard (whichever is earlier).
Premature Closure (Marriage)
The account can be closed after the girl turns 18 years for marriage purposes. The full accumulated amount is payable with applicable interest.
Special Circumstances
Premature closure is allowed in case of medical emergency (life-threatening disease) or unfortunate death of the account holder. In case of death, the balance is paid to the guardian with interest till date.
Who Should Invest in SSY?
Ideal candidates and who should consider alternatives
Ideal for
- Parents of girl children aged 0-10 years
- Those seeking guaranteed, risk-free returns
- Taxpayers looking to save under Section 80C
- Long-term planners for daughter's future
- Those who prefer govt-backed schemes
Not suitable for
- Those needing liquidity before 21 years
- Parents of boys (scheme is only for girls)
- Those with girls already above 10 years
- Investors seeking market-linked high returns
Common Mistakes to Avoid in SSY
Deposit timing, missed payments, and account limits
- 1.Depositing after 5th of the month: Interest is calculated on monthly minimum balance. Deposit before 5th to earn interest for that month.
- 2.Missing yearly deposits: A penalty of ₹50 per year plus minimum deposit applies. This reduces your effective returns.
- 3.Not maximizing deposits: The ₹1,50,000 limit is generous. At 8.2%, not using it means missed compound growth.
- 4.Opening multiple accounts: Only 2 accounts per family are allowed (one per daughter, max 2 daughters). Exception: If first birth is triplets (all girls) OR second birth is twins (after first girl), a 3rd account is allowed with medical proof.
- 5.Starting late: Opening at age 10 vs age 0 delays maturity age (maturity is fixed at 21 years from opening), which can affect goal timing.
- 6.Assuming fixed deposits: Most calculators (including this one) assume fixed yearly deposits. In reality, increasing your deposit by 10% every year (Step-Up strategy) can significantly boost your maturity amount.
Important Rules You Must Know
NRI status, twins exception, and account transfers
NRI Status Warning
If your daughter becomes an NRI (Non-Resident Indian) or gives up Indian citizenship, the account is treated as "Closed" from that date. No further interest will be credited. Inform your bank/PO immediately if this happens.
Twins & Triplets Exception
Normally, only 2 SSY accounts are allowed per family. But if your first birth resulted in Triplets (all girls) or your second birth resulted in Twin girls (after a first girl), you can legally open a 3rd account with a hospital medical certificate.
Transfer Freedom
You can transfer your SSY account from Post Office to any authorized bank (SBI, HDFC, ICICI, etc.) or vice-versa, anywhere in India. Just submit a transfer request form at your current branch.
SSY vs PPF vs FD — Which is Better?
Interest rates, tax treatment, and eligibility compared
| Feature | SSY | PPF | FD |
|---|---|---|---|
| Interest Rate | 8.2% | 7.1% | 6-7.5% |
| Tax Status | EEE (Tax-free) | EEE (Tax-free) | Taxable |
| Lock-in Period | 21 years | 15 years | Flexible |
| Eligibility | Girl child 0-10 | Any Indian resident | Anyone |
| Max Deposit/Year | ₹1.5 lakh | ₹1.5 lakh | No limit |
| Partial Withdrawal | At age 18 (50%) | From 7th year | Anytime (penalty) |
| Best For | Girl child planning | Retirement | Short-term goals |
SSY is better than PPF if you have a daughter under 10 years. The interest rate is higher and the purpose-built structure helps plan for her future.
SSY is far better than FD for long-term goals because FD interest is taxable. At 30% tax bracket, a 7% FD yields only ~4.9% post-tax, while SSY gives the full 8.2%.
Frequently Asked Questions
Common questions about SSY scheme, eligibility, and tax benefits