Sukanya Samriddhi Yojana (SSY) Calculator
Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme for a girl child, offering one of the highest interest rates among small savings schemes, with EEE tax status.
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What is the Sukanya Samriddhi Yojana (SSY) Calculator?
Sukanya Samriddhi Yojana (SSY) is a government savings scheme for a girl child, opened by a parent or legal guardian any time before she turns 10. A family can open a maximum of two SSY accounts (or three in the case of twins/triplets), and the scheme carries EEE tax status — the deposits, the interest earned, and the maturity amount are all exempt from tax.
How to Calculate
Enter the amount you plan to deposit each year and the girl's current age. Deposits can continue for 15 years from the date the account is opened; after that, no further deposits are needed, but the balance keeps earning interest until the account fully matures 21 years after it was opened (or when the girl marries after age 18, if earlier).
Formula
SSY compounds annually like PPF, with interest computed on the lowest monthly balance. Deposits can be made for 15 years from account opening; the account then continues earning interest (without further deposits) until it matures at 21 years from opening.
balance = (balance + yearly deposit, if within deposit period) × (1 + rate), repeated for each of the 21 years.
Worked Example
Depositing ₹1,50,000 every year for 15 years at 8.2% p.a.:
- Total invested: ₹22,50,000
- Maturity value (at year 21): well over ₹70,00,000
The long gap between the last deposit (year 15) and maturity (year 21) lets compounding continue working even after contributions stop.
How to Use
- Enter your planned yearly deposit (minimum ₹250, maximum ₹1,50,000 per year).
- Confirm the deposit period (15 years) and maturity period (21 years from account opening).
- Check the current SSY interest rate (revised quarterly) and update if it has changed.
- Read the projected maturity value and total interest earned.