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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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

  1. Enter your planned yearly deposit (minimum ₹250, maximum ₹1,50,000 per year).
  2. Confirm the deposit period (15 years) and maturity period (21 years from account opening).
  3. Check the current SSY interest rate (revised quarterly) and update if it has changed.
  4. Read the projected maturity value and total interest earned.

Frequently Asked Questions

Who can open an SSY account?
A parent or legal guardian can open an SSY account for a girl child below the age of 10. Only one account is allowed per girl child, and a family can open accounts for up to two girl children (with exceptions for twins/triplets).
Is SSY interest taxable?
No u2014 SSY has EEE (Exempt-Exempt-Exempt) tax status, same as PPF: the deposit, interest, and maturity amount are all tax-free.
What happens to the account after 15 years if I stop depositing?
The account continues to earn interest on the accumulated balance until it matures at 21 years from opening u2014 you simply don't need to (and can't) make further deposits after year 15.
Can the account be closed early?
Premature closure is allowed in specific circumstances u2014 such as the girl's marriage after she turns 18, or on medical/compassionate grounds u2014 subject to conditions.
How often does the interest rate change?
The SSY rate is reviewed quarterly by the Ministry of Finance along with other small savings schemes. Always confirm the current rate before relying on a long-term projection.
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