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Sukanya Samriddhi Calculator

Calculate the maturity amount for your daughter's SSY account. See how ₹1.5 lakh invested annually grows to a significant tax-free corpus.

👧 Girl Child 💰 8.2% Tax-Free 🏛️ Government Scheme

SSY Account Calculator

Current SSY Interest Rate: 8.2% p.a. · Revised quarterly by Government of India · EEE Tax Status
0 (birth)10 yrs
₹250 (min)₹1,50,000 (max)

📊 SSY Year-by-Year Growth

Purple bars = active deposit years · Grey bars = interest-only years · Vertical line at year 15 = last deposit

What is Sukanya Samriddhi Yojana?

Sukanya Samriddhi Yojana (SSY) is a government-backed small savings scheme launched in 2015 under the 'Beti Bachao Beti Padhao' initiative. It's designed specifically for the financial security of the girl child, offering one of the highest guaranteed rates among small savings schemes — currently 8.2% per annum — with complete tax exemption (EEE status).

Account Rules at a Glance: Open between birth and age 10 · Deposits for 15 years from account opening · Account matures when girl turns 21 · Minimum deposit ₹250/year · Maximum deposit ₹1,50,000/year · EEE: contribution, interest, and maturity all tax-free

SSY vs PPF vs FD for Girl Child

FeatureSSYPPFFD (Bank)
Interest Rate (2024)8.2%7.1%6.5–7.5%
Tax on InterestFully exempt (EEE)Fully exempt (EEE)Taxable as income
Government-backedYesYesOnly up to ₹5L (DICGC)
Eligible depositorGirl child onlyAnyoneAnyone
Effective post-tax return (30% slab)8.2%7.1%~4.6%
Partial withdrawal50% at age 18 onlyFrom year 7Anytime (with penalty)

How SSY Interest is Calculated

Interest is calculated monthly (on the lowest balance between the 5th and the last day of the month) but credited annually on March 31. This means depositing before the 5th of each month maximizes your monthly interest accrual. Annual compounding makes it simpler for planning purposes — the calculator uses this method.

SSY Withdrawal Rules

  • Partial at 18: Up to 50% of balance (as of the previous financial year) for higher education or marriage
  • Full maturity at 21: Account closes, entire balance (corpus + interest) paid out tax-free
  • Early closure for marriage: Allowed if the girl is 18+ and married — account closes, balance paid out
  • Premature closure: Only in case of account holder's death, or certain medical hardship — balance returned with interest

How to Open an SSY Account

  • Where: Post offices (any branch), SBI, HDFC, ICICI, Axis, PNB, and most nationalized banks
  • Documents needed: Girl child's birth certificate, parent/guardian Aadhaar, parent/guardian PAN, address proof, passport photo
  • Minimum opening deposit: ₹250
  • Passbook: Issued at opening, updated at each deposit or branch visit

Frequently Asked Questions

What is the minimum age to open an SSY account? +
An SSY account can be opened from birth up to age 10. There is no minimum age — even a newborn's account can be opened at a post office. Opening early maximizes the compound interest period.
Can I open 2 SSY accounts for twin daughters? +
A family can open a maximum of 2 SSY accounts — one per girl child. For twin/triplet girls born in the second birth order, a third account is allowed with a medical certificate. You cannot open 2 accounts for the same girl child.
What happens to SSY if the girl child dies? +
If the girl child (account holder) dies, the SSY account is closed immediately and the entire balance is paid to the guardian/parent. No penalty or lock-in applies in this case. Similarly, if the guardian passes away, the account can be closed and funds returned.
Can NRIs open a Sukanya Samriddhi account? +
No. SSY is only available for Indian residents. If the account holder and guardian become NRIs after opening the account, it must be closed and the balance paid out. NRIs should look at alternatives like FCNR deposits for their daughters.
How do I check my SSY account balance? +
For India Post SSY: use the India Post Mobile Banking or India Post Payment Bank app. For bank-held accounts: check via net banking or the bank's app. A passbook is issued at opening and can be updated at any branch. Some post office circles also offer SMS balance check.
Can I reduce my deposit amount after choosing the maximum? +
Yes. The minimum annual deposit is ₹250 and maximum is ₹1,50,000. You can deposit any amount in this range each year. If you fail to deposit the minimum ₹250 in any year, the account becomes 'irregular' and requires a ₹50 penalty per year to reactivate.
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₹1.84 lakh crore sits unclaimed in India.

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