Sukanya Samriddhi Yojana Calculator
Plan your daughter's bright future
8.2%
21 Years
₹250
₹1.5L
Investment Details
Account can be opened for a girl child up to 10 years of age
Quick Presets:
Year-wise Breakdown
| Year | Age | Deposit | Interest | Balance |
|---|
Maturity SummaryOn 2046 (Age: 26)
Maturity Amount
₹0.00 L
Key Benefits
- ✓Tax Benefits: Deduction up to ₹1.5L under Section 80C
- ✓Tax-Free Returns: Maturity amount is completely tax-free
- ✓Flexible Deposits: Deposit anywhere between ₹250 to ₹1.5L per year
- ✓Partial Withdrawal: After child turns 18, can withdraw 50% for education
- ✓Transferable: Account can be transferred anywhere in India
Sukanya Samriddhi Yojana (SSY) Calculator
Sukanya Samriddhi Yojana (SSY) is a government-backed small deposit scheme for the girl child, launched as a part of the "Beti Bachao, Beti Padhao" campaign. It offers one of the highest interest rates among all government-backed savings schemes and provides tax benefits under Section 80C of the Income Tax Act.
The scheme encourages parents to build a financial corpus for their daughter's education and marriage expenses. With attractive interest rates compounded annually and complete tax exemption on maturity (EEE status), SSY is one of the best long-term savings options for girl children in India.
Accounts can be opened at any post office or authorized commercial banks across India. The minimum deposit is just ₹250 per year, making it accessible to all income groups.
How Sukanya Samriddhi Yojana Works
Deposit Period (Years 1-15)
You can make deposits for the first 15 years from the date of account opening. Deposits can be made in lump sum or in installments (monthly, quarterly, or yearly). Missing deposits doesn't close the account but may require a penalty to reactivate.
Growth Period (Years 16-21)
After 15 years, no more deposits are allowed, but the accumulated amount continues to earn interest at the prevailing rate until maturity. This is a pure growth period where your money compounds without additional contributions.
Maturity (Year 21)
The account matures 21 years from the date of opening. At maturity, you receive the entire corpus including principal and interest, completely tax-free. You can also extend the account in blocks of 5 years if needed.
Example: SSY Maturity Calculation
Suppose you open an SSY account for your 5-year-old daughter and deposit ₹50,000 every year for 15 years.
- Yearly Deposit: ₹50,000
- Girl's Age at Account Opening: 5 years
- Interest Rate: 8.2% per annum (compounded annually)
- Deposit Period: 15 years
- Maturity Period: 21 years
- Total Investment: ₹7,50,000 (₹50,000 × 15 years)
- Total Interest Earned: Approximately ₹12,00,000
- Maturity Amount: Approximately ₹19,50,000
- Returns: Approximately 160% on total investment
Key Features & Benefits
Financial Benefits
- High Interest Rate: Currently 8.2% p.a. (compounded annually)
- Tax Deduction: Up to ₹1.5 lakh under Section 80C
- Tax-Free Returns: Interest and maturity amount are completely tax-free (EEE status)
- Guaranteed Returns: Government-backed scheme with no risk
- Higher Than FD: Better returns than most bank fixed deposits
Operational Benefits
- Easy Opening: Open at any post office or authorized bank
- Nationwide Transfer: Transfer account anywhere in India
- Partial Withdrawal: Withdraw 50% after girl turns 18 for education
- Low Minimum: Start with just ₹250 per year
- Online Access: Manage account through internet banking
Eligibility Criteria
- Girl child aged below 10 years
- Parents or legal guardian can open account
- Maximum 2 accounts per family (one per girl child)
- Indian citizens only
Withdrawal & Closure Rules
Partial Withdrawal
After the girl child attains 18 years of age and has passed 10th standard:
- Can withdraw up to 50% of the balance at the end of preceding financial year
- Allowed only for higher education expenses
- Can be withdrawn in lump sum or installments over 5 years
- Educational institution admission proof required
Premature Closure
Account can be closed before maturity in these cases:
- Death of the account holder (girl child)
- Life-threatening diseases of the girl child (with medical certificate)
- After 5 years on grounds of financial hardship (lower interest rate applicable)
Tax Benefits - Triple Tax Exemption (EEE)
Exempt at Entry
Deposits up to ₹1.5 lakh per year are eligible for tax deduction under Section 80C
Exempt on Growth
Interest earned every year is completely tax-free. No TDS deducted on interest
Exempt at Exit
Maturity amount is completely tax-free in the hands of the girl child
SSY vs Other Investment Options
| Parameter | SSY | PPF | FD | Mutual Funds |
|---|---|---|---|---|
| Interest Rate | 8.2% | 7.1% | 6.5-7% | Variable |
| Tax Benefit | EEE | EEE | Only at Entry | Only at Entry |
| Lock-in Period | 21 years | 15 years | Flexible | 3 years (ELSS) |
| Risk | Zero | Zero | Zero | Market-linked |
| Max Investment | ₹1.5L/year | ₹1.5L/year | No limit | No limit |
Verdict: For long-term savings for a girl child with guaranteed returns and maximum tax benefits, SSY is the best option. For higher risk appetite and potentially higher returns, consider mutual funds as additional investment.
Documents Required to Open Account
For the Girl Child
- •Birth certificate (mandatory)
- •Identity proof (Aadhaar card preferred)
For Parents/Guardian
- •Identity proof (Aadhaar, PAN, Passport, Voter ID)
- •Address proof (Aadhaar, utility bills, passport)
- •Recent passport-size photographs
Note: Interest rates are subject to change by the Government of India. Current rate of 8.2% is effective from Q3 FY 2024-25. Please verify the latest rates before investing.
