Sukanya Samriddhi Yojana (SSY) is a government savings scheme for the girl child, launched under the Beti Bachao Beti Padhao campaign. It offers one of the highest interest rates among small savings schemes, fully tax-free returns and a government guarantee. That makes it a popular choice for a daughter's higher education and marriage.
Key SSY rules
- Who can open: a parent or guardian, for a girl child below 10 years of age. Up to two accounts per family (more in the case of twins or triplets).
- Deposit: minimum ₹250 and maximum ₹1,50,000 per financial year.
- Deposit period: 15 years from the date of opening the account.
- Maturity: 21 years from the date of opening. The balance keeps earning interest for the last 6 years even without deposits.
- Interest: set by the Government every quarter and compounded yearly.
- Tax: deposits qualify for a deduction under the old tax regime (Section 80C), and the interest and maturity amount are tax-free.
- Withdrawal: up to 50% of the balance can be withdrawn for higher education after the girl turns 18 or passes Class 10. Early closure is allowed for her marriage after 18.
How to use the SSY calculator
- Enter the yearly deposit (between ₹250 and ₹1,50,000).
- Check the interest rate. The default is 8.2%, but the government reviews it every quarter.
- Enter the year the account is opened to see the maturity year.
The year-wise breakdown shows the deposit, interest and balance for all 21 years.
How the SSY maturity is calculated
The calculator assumes you deposit at the start of each financial year for 15 years. Interest is added once a year on the full balance, and the balance keeps growing without new deposits from year 16 to year 21:
Balance at year end = (Balance at year start + Deposit) × (1 + rate ÷ 100)Example
You open an SSY account in 2026 and deposit ₹1,50,000 every year at 8.2%.
- Total deposited over 15 years = ₹22,50,000
- Balance after 15 years = about ₹44,75,989
- Maturity value in 2047 = ₹71,82,119
- Total interest = ₹49,32,119, all tax-free
Maturity for different yearly deposits
At 8.2% for the full 21 years:
| Yearly deposit | Total deposited | Maturity value |
|---|---|---|
| ₹50,000 | ₹7,50,000 | ₹23,94,040 |
| ₹1,00,000 | ₹15,00,000 | ₹47,88,079 |
| ₹1,50,000 | ₹22,50,000 | ₹71,82,119 |
Tip: deposit early in the year
Interest for each month is calculated on the lowest balance between the 5th and the end of the month. Depositing before 5 April each year earns interest on your deposit for the whole year.
FAQ
What is the current Sukanya Samriddhi interest rate?
The government announces the rate every quarter. The calculator uses 8.2% by default. Check the latest rate on the India Post or National Savings Institute website and enter it.
What happens if I miss a yearly deposit?
The account becomes inactive. You can revive it by paying the minimum deposit for each missed year along with a small penalty per year.
Can I withdraw money before maturity?
Up to 50% of the balance can be withdrawn for higher education once your daughter turns 18 or passes Class 10. Full early closure is allowed for her marriage after 18, and in some special cases.
SSY or PPF: which is better for a daughter?
SSY usually offers a higher rate than PPF, and both are tax-free. SSY is only for a girl child and matures in 21 years. You can use both. Compare with the PPF calculator.