Sukanya Samriddhi Yojana (SSY) Calculator
Calculate your daughter's SSY maturity value at the current 8.2% official interest rate. Free, no login, nothing stored.
Deposits continue for 15 years from account opening.
Uses simplified annual compounding. Actual bank/post office statements may vary slightly due to monthly balance rules.
What Is Sukanya Samriddhi Yojana (SSY)?
Sukanya Samriddhi Yojana is a government-backed small savings scheme launched under the Beti Bachao Beti Padhao initiative, designed to help parents build a tax-free corpus for their daughter's education and marriage. It currently offers 8.2% per annum, compounded annually - the highest interest rate among all government small savings schemes, higher than PPF, bank fixed deposits, and post office term deposits.
Free, No Login, No Data Stored
This calculator runs entirely in your browser. There is no sign-up, no account, and nothing you enter is saved, tracked, or sent anywhere. It's free to use as many times as you need.
How to Use This SSY Calculator
- Enter your daughter's age at the time the account was (or will be) opened. SSY accounts can only be opened for a girl below 10 years.
- Enter your planned annual deposit, between INR 250 and INR 1.5 lakh.
- The interest rate is pre-filled with the current official rate of 8.2%, but you can adjust it to test different scenarios since the government revises this rate every quarter.
- The result panel shows your total investment, total interest earned, and the maturity value after the full 21-year account tenure.
How Maturity Value Is Calculated
Balance = (Balance + Annual Deposit) x (1 + Rate).
Balance = Balance x (1 + Rate).
Real SSY interest is technically calculated on the lowest balance between the 10th and last day of each month, then compounded annually. This calculator uses a simplified annual compounding model for clarity, which closely approximates but may not exactly match your official passbook figures.
SSY Account Rules
- Eligibility: account can only be opened for a girl child below 10 years, by a parent or legal guardian.
- Accounts per family: one account per girl child, maximum two accounts per family (three in the case of twins or triplets in specific circumstances).
- Deposit period: 15 years from the date of account opening.
- Maturity: 21 years from the date of account opening, or on the girl's marriage after she turns 18, whichever is earlier.
- Deposit limits: minimum INR 250 and maximum INR 1.5 lakh per financial year.
- Partial withdrawal: up to 50% of the balance can be withdrawn once the girl turns 18, for higher education or other approved purposes.
Tax Benefits
SSY enjoys EEE (Exempt-Exempt-Exempt) tax status - one of the very few instruments in India with this treatment:
- Deposits qualify for deduction up to INR 1.5 lakh under Section 80C (now Section 123 of the Income Tax Act, 2025).
- Interest earned each year is completely tax-free.
- The maturity amount is also fully tax-free on withdrawal.
Who Is This Calculator For?
- Parents and guardians of a girl child under 10 planning long-term education or marriage savings.
- Anyone comparing SSY against PPF or fixed deposits for a girl child's future.
- Existing SSY account holders estimating their maturity corpus at different deposit levels.
SSY vs PPF
| Feature | Sukanya Samriddhi Yojana | Public Provident Fund (PPF) |
|---|---|---|
| Current interest rate | 8.2% p.a. | 7.1% p.a. |
| Eligibility | Girl child below 10 years only | Any Indian citizen |
| Tenure | 21 years from account opening | 15 years, extendable in 5-year blocks |
| Deposit limit | INR 250 to INR 1.5 lakh/year | INR 500 to INR 1.5 lakh/year |
| Best suited for | Dedicated, higher-return savings for a daughter | General-purpose long-term tax-free savings for anyone |
Frequently Asked Questions
What is the current SSY interest rate?
The rate is 8.2% per annum, compounded annually, as notified by the Ministry of Finance for the current quarter. This has remained unchanged for eight consecutive quarters, but the government reviews and can revise it every quarter, so always check the latest rate before relying on long-term projections.
Can I open more than one SSY account for the same girl?
No, only one SSY account is allowed per girl child. A family can open accounts for a maximum of two girl children, with an exception for twins or triplets in specific documented cases.
What happens if I miss a yearly deposit?
If the minimum annual deposit of INR 250 is not made, the account becomes a "default account," but it can be revived by paying the shortfall amount plus a small penalty of INR 50 per year of default.
Can I withdraw money before the account matures?
Partial withdrawal of up to 50% of the balance is allowed once the girl turns 18, typically for higher education. The account can also be closed early if the girl marries after turning 18, subject to submitting proof of age at the time of marriage.
Does this calculator match my exact bank passbook figures?
It should be very close, but not always exact. Banks and post offices calculate interest monthly on the lowest balance between the 10th and last day of each month before crediting it annually, while this calculator uses a simplified annual compounding model for clarity.
Is SSY better than a fixed deposit for a girl child?
SSY currently offers a materially higher interest rate than most bank fixed deposits, plus full EEE tax exemption that fixed deposits do not offer, making it generally more attractive for long-term, girl-child-specific savings, provided you are comfortable with the 21-year lock-in structure.
Is this SSY calculator free to use?
Yes, completely free, with no login and no data stored, and works on both mobile and desktop.
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