SSY Calculator
Calculate maturity amount for Sukanya Samriddhi Yojana. Plan for your girl child's education and marriage expenses with tax-free returns.
👧SSY Details
Min: ₹250 | Max: ₹1,50,000/year
Account can be opened till age 10
Current rate: 8.2% (Q1 2025)
Maturity Amount (at age 26)
₹23.94 L
Total Deposited
₹7.50 L
Interest Earned
₹16.44 L
Deposit Years
15 years
Deposit vs Interest
Growth Over 21 Years
How the SSY Calculator Works
What Is Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana (SSY) is a small-deposit scheme launched in 2015 by the Government of India as part of the 'Beti Bachao Beti Padhao' initiative. It's designed specifically for parents of girl children, offering one of the highest interest rates among government savings schemes (currently 8.2% per annum) with complete tax exemption at all three stages: investment, interest, and maturity.
An SSY account can be opened by a parent or legal guardian for a girl child from birth until she turns 10 years old. Each girl can have only one account, and a family can open a maximum of two SSY accounts (one each for up to two daughters). The account has a 21-year maturity period from opening, regardless of the age at which it's opened.
The scheme combines the safety of a government-backed instrument with the highest non-market interest rate available to Indian retail investors. This is why SSY is one of the most recommended schemes for parents planning their daughter's higher education or marriage.
How SSY Interest and Compounding Work
SSY interest is compounded annually — meaning the interest is calculated and added to the account balance once a year. The rate is set by the Government of India each quarter, but in practice has remained stable at 7.6–8.5% for the last several years. Current rate (as of 2025): 8.2% per annum.
Deposits must be made for the first 15 years from account opening. The account continues to earn interest until maturity — 21 years from opening. This creates a powerful compounding effect: after the deposit period ends, the accumulated balance continues to grow untouched for another 6 years.
For example: A parent opens an SSY account for a 1-year-old daughter and deposits ₹1.5 lakh every year for 15 years (₹22.5 lakh total). By the time the girl turns 21, the account matures at approximately ₹71 lakh — with about ₹48 lakh of that being tax-free interest earned. The 6 years of no-deposit compounding contribute significantly to this final amount.
Tax Benefits and Withdrawal Rules
SSY enjoys 'EEE' (Exempt-Exempt-Exempt) tax status, the same as PPF. Contributions up to ₹1.5 lakh per year qualify for deduction under Section 80C (only under the old tax regime). The interest earned is fully tax-free. The maturity amount is entirely tax-free. There is no other long-term savings instrument that combines high returns with this level of tax efficiency.
Withdrawal rules: The account matures 21 years after opening, or when the girl turns 21 (whichever is earlier). Partial withdrawal up to 50% of the balance is permitted after the girl turns 18, specifically for higher education or marriage expenses. Full withdrawal is allowed at maturity or upon marriage (after age 18). Premature closure is allowed only in cases of extreme hardship or on the death of the account holder.
A crucial rule: if the minimum annual deposit of ₹250 is not made in any year, the account is considered 'defaulted.' It can be revived by paying a ₹50 penalty per defaulted year plus the minimum deposit. Failing to revive the account means it earns no further interest — so keeping up with the annual deposit is important.
Step-by-Step Worked Example
A parent opens an SSY account for a 3-year-old daughter and deposits ₹1,00,000 per year for 15 years (until she's 18). Calculate the maturity amount when she turns 21 (assuming 8.2% interest rate).
- 1Deposit period: 15 years (from age 3 to age 18).
- 2Total deposited: ₹1,00,000 × 15 = ₹15,00,000.
- 3Maturity period: 21 years from opening (girl's age 3 to 24), or until she turns 21 — whichever is earlier. In this case, maturity is at age 24 (21 years from opening).
- 4Year 1 contribution of ₹1,00,000 compounds for 21 years at 8.2%.
- 5Each subsequent year's contribution compounds for 1 fewer year.
- 6Sum of all compounded values = approximately ₹47,00,000 at maturity (age 24).
Result
Total deposited: ₹15,00,000
Interest earned: approximately ₹32,00,000
Maturity amount: approximately ₹47,00,000
Return multiple: 3.13x
Interest is fully tax-free (EEE status)
Post-tax equivalent: same as pre-tax, since SSY has no tax on any stage
Key Benefits & Use Cases
When to Use This Tool
- ✓Building a large corpus for a daughter's higher education (college, professional courses, overseas studies).
- ✓Saving for a daughter's marriage expenses 15–20 years in advance.
- ✓Section 80C tax saving for parents under the old tax regime.
- ✓Creating a long-term, tax-free wealth pool with government-backed safety.
- ✓Teaching a child about long-term savings — the account stays in the daughter's name.
Why It Matters
- →Highest interest rate among small-savings schemes (8.2% currently) — better than PPF, FDs, and RDs.
- →Triple tax benefit (EEE) — no tax at any stage, fully tax-free returns.
- →Government-backed with zero credit risk.
- →Long compounding period (21 years) with 6 years of post-deposit growth.
- →Partial withdrawal allowed after girl turns 18 for education/marriage.
- →Small minimum deposit (₹250/year) makes it accessible to all income levels.
Who Should Use This Calculator
- ★Parents of girl children under age 10.
- ★Any parent planning for a daughter's higher education or marriage expenses.
- ★Taxpayers on the old regime wanting to use the 80C deduction efficiently.
- ★Investors wanting a safe, high-return, tax-free component alongside equity SIPs.
Education & Marriage
Plan for your daughter's higher education and marriage expenses.
High Returns
Currently 8.2% interest rate, compounded annually — one of the highest government schemes.
Tax Benefits
Triple tax benefit (EEE) — deposits, interest, and maturity all tax-free.
How to Use
Enter Yearly Deposit
Set annual deposit amount (₹250 to ₹1.5L per year).
Set Child's Age
Enter girl child's current age (0-10 years).
Check Interest Rate
Current rate is 8.2%, updated quarterly by government.
View Maturity
See total amount at age 21 with tax-free interest.
The Formula
Maturity = [Yearly Deposit × 15 years] × Compound GrowthFrequently Asked Questions
What is Sukanya Samriddhi Yojana?
SSY is a government savings scheme for the girl child, part of the 'Beti Bachao Beti Padhao' initiative. It offers a high interest rate (currently 8.2%), triple tax benefits, and helps parents save for their daughter's education and marriage.
Who can open an SSY account?
Parents or legal guardians can open an SSY account for a girl child from birth until she turns 10 years old. Only one account per girl child, and a family can open a maximum of two accounts (one for each of up to two daughters).
What are the SSY deposit rules?
Minimum deposit: ₹250/year. Maximum: ₹1,50,000/year. Deposits must be made for 15 years from account opening. The account matures 21 years from opening, or when the girl turns 21 — whichever is earlier.
Can I withdraw from SSY before maturity?
Partial withdrawal (50% of the balance) is allowed after the girl turns 18 for higher education or marriage. Full withdrawal is available at maturity (age 21) or on marriage after 18. Premature closure is allowed only in extreme hardship or on death.
What are the SSY tax benefits?
SSY enjoys EEE (Exempt-Exempt-Exempt) status: (1) Deposits qualify for Section 80C deduction up to ₹1.5L (old regime), (2) Interest earned is tax-free, (3) Maturity amount is fully tax-free. This is one of the best tax-efficient long-term savings schemes in India.
What happens if I miss a year's deposit?
If you don't deposit the minimum ₹250 in any year, the account is considered 'defaulted.' You can revive it by paying a ₹50 penalty per defaulted year plus the minimum deposit. If not revived, the account stops earning interest.
Can NRIs open an SSY account?
No. Only residents of India can open an SSY account. If the family becomes NRI after opening, the account can continue until maturity, but no new contributions can be made in some cases. Rules have evolved — check current RBI/govt guidance.
What happens to SSY if the girl dies?
In the unfortunate event of the girl's death, the account is closed and the balance is paid to the nominee (parent/guardian) along with interest up to the date of death. The amount is fully tax-free.
Can I have both PPF and SSY?
Yes — PPF and SSY are independent schemes. You can hold both, and both qualify for Section 80C deduction (up to ₹1.5L combined, not individually). Many parents hold PPF for general savings and SSY specifically for their daughter.
Is SSY better than a mutual fund SIP?
They serve different purposes. SSY offers guaranteed 8.2% returns, triple tax benefit, and government safety — ideal for conservative investors or education goals. SIPs offer higher potential returns (10–13%) but with market risk. Most parents should use both: SIP for growth, SSY for safety.
Reviewed by AutoWealthLab Editorial Team
This calculator and its accompanying guide are maintained by the AutoWealthLab editorial team. Every formula is verified against standard financial references, and results are cross-checked with independent calculators before publishing. Our tools are updated whenever tax rules, interest rate benchmarks, or regulatory formulas change.
Last reviewed: October 2026 · Methodology: Standard amortization and compound interest models · Learn more about our testing process