Sukanya Samriddhi Yojana (SSY) Calculator
Calculate the maturity amount, total interest earned, and partial withdrawal amount for the Sukanya Samriddhi Yojana scheme. SSY offers 8.2% p.a. (compounded annually) and is fully tax-free under EEE status.
| Scheme Year | Calendar Year | Annual Deposit (₹) | Interest (₹) | Balance (₹) |
|---|---|---|---|---|
| Year 5 | 2031 | 50,000 | 24,149 | 3,18,651 |
| Year 10 | 2036 | 50,000 | 59,962 | 7,91,206 |
| Year 15 (deposit period ends) | 2041 | 50,000 | 1,13,072 | 14,91,996 |
| Year 18 (girl turns 18 — partial withdrawal) | 2044 | — | 1,43,231 | 18,89,947 |
| Year 21 — Maturity | 2047 | — | 1,81,434 | 23,94,040 |
SSY interest rate (currently 8.2% p.a.) is reviewed quarterly by the Government of India. Verify the current rate at India Post or the Ministry of Finance website before investing.
What is the Sukanya Samriddhi Yojana?
The Sukanya Samriddhi Yojana (SSY) is a government-backed small savings scheme launched in January 2015 under the Beti Bachao Beti Padhao initiative. It is specifically designed to help parents accumulate a corpus for their daughter's higher education and marriage expenses. An SSY account can be opened at any post office or authorized bank branch in India for a girl child who is below 10 years of age.
SSY is one of the highest-returning, fully guaranteed government savings instruments in India. The current rate of 8.2% per annum (compounded annually) significantly outperforms PPF (7.1%), NSC (7.7%), and bank fixed deposits for most tenures. Combined with its EEE tax status — deposits, interest, and maturity all exempt from tax — SSY offers exceptional real returns for long-term savers.
SSY Scheme Rules at a Glance
| Feature | Details |
|---|---|
| Who can open | Parents or legal guardian of a girl child below 10 years |
| Max accounts per family | 2 (one per girl child; 3 allowed for twins/triplets) |
| Minimum annual deposit | ₹250 |
| Maximum annual deposit | ₹1,50,000 per financial year |
| Deposit period | 15 years from account opening |
| Maturity | 21 years from account opening |
| Interest rate | 8.2% p.a. (compounded annually, reviewed quarterly) |
| Tax status | EEE — deposits (80C), interest, and maturity all tax-free |
| Partial withdrawal | 50% of balance at girl's age 18, for education/marriage |
| Premature closure | Allowed only on girl's death, life-threatening illness, or marriage after age 18 |
How SSY Interest is Calculated
SSY uses annual compounding with deposits at the start of each financial year (annuity due). The formula for each year:
Balance (Year n) = (Balance (Year n-1) + Annual Deposit) × (1 + r)
Where r is the annual interest rate (e.g., 0.082 for 8.2%). This applies for the first 15 years when deposits are being made. From year 16 to year 21, no new deposits are made but the balance continues to earn interest:
Balance (Year n) = Balance (Year n-1) × (1 + r) [for years 16-21]
In practice, interest is credited on 31 March each year. To maximize returns, make your annual deposit before 5 April each year — deposits made by the 5th of any month earn interest for that full month.
Worked Example: ₹1,50,000/year at 8.2% for 15 Years + 6 Years Growth
Annual deposit: ₹1,50,000 Interest rate: 8.2% p.a. (r = 0.082) Deposit period: 15 years Growth-only period: 6 years (years 16-21) Year 1: (0 + 1,50,000) × 1.082 = ₹1,62,300 Year 2: (1,62,300 + 1,50,000) × 1.082 = ₹3,37,930 ... Year 15: Balance after 15 deposits ≈ ₹43,27,630 Then grows for 6 more years (no deposits): Year 16: ₹43,27,630 × 1.082 ≈ ₹46,82,495 ... Year 21: Maturity Amount ≈ ₹69,27,578 Total deposited: 15 × ₹1,50,000 = ₹22,50,000 Total interest: ₹69,27,578 - ₹22,50,000 = ₹46,77,578 Interest-to-deposit ratio: 207% (interest is more than double deposits!)
EEE Tax Status — Triple Tax Exemption
SSY has EEE (Exempt-Exempt-Exempt) tax status, meaning it is completely tax-free at all three stages:
- Exempt at investment: Annual deposits up to ₹1,50,000 qualify for deduction under Section 80C of the Income Tax Act, reducing your taxable income. Note: the ₹1.5 lakh 80C limit is shared across all 80C instruments (PPF, ELSS, life insurance, etc.).
- Exempt during accumulation: Interest earned each year is completely tax-free — it is not added to your income and does not need to be disclosed in your ITR (it is covered under the exemption).
- Exempt at maturity: The full maturity amount — principal plus all accumulated interest — is received tax-free. There is no TDS and no capital gains tax.
For a parent in the 30% tax bracket, an 8.2% tax-free return on SSY is equivalent to a pre-tax return of approximately 11.7% on a fully taxable instrument. This makes SSY one of the most efficient fixed-income investments available in India.
Partial Withdrawal at Age 18
A key feature of SSY is the ability to make a partial withdrawal when the girl child turns 18. This is designed to help with higher education fees, which typically occur at this age. The rules are:
- Maximum withdrawal: 50% of the balance at the end of the previous financial year (31 March before the 18th birthday)
- Can be withdrawn in one lump sum or up to 5 annual installments
- Must be used for higher education or marriage purposes
- Documentation required: university admission letter, fee demand notice, etc.
- The remaining balance continues to earn interest until maturity at age 21
The partial withdrawal itself is tax-free. After withdrawal, the account continues to earn interest on the remaining balance until the girl turns 21 or gets married, whichever comes first.
What Happens When the Account Matures?
The SSY account matures 21 years after it was opened. At maturity, the girl child (now a young adult) receives the full maturity amount tax-free. If she chooses to marry before age 21, the account can be closed prematurely on submission of the marriage certificate (minimum age must be 18).
After maturity, if no withdrawal instruction is given, the balance continues to earn interest at the rate applicable for that period — though at some point the government may stop crediting interest, so it is advisable to plan the withdrawal close to maturity.
Fitting SSY into Your Financial Plan
SSY works best as part of a broader long-term financial plan for your daughter. Here is how it fits alongside other instruments:
| Instrument | Rate (approx.) | Tax Status | Best For |
|---|---|---|---|
| Sukanya Samriddhi | 8.2% | EEE | Daughter's education/marriage (long-term) |
| PPF | 7.1% | EEE | General long-term savings (flexible) |
| Equity Mutual Funds (ELSS) | 10-14% historical | EE (LTCG 12.5% above ₹1L) | Inflation-beating growth (higher risk) |
| Bank FD (5-yr tax saving) | 7.0% | Taxable interest | Capital protection (risk averse) |
A common strategy for parents is to maximize SSY contributions (₹1.5 lakh/year) for the guaranteed, high-rate return, and supplement it with equity mutual funds (through a child-specific SIP or gift to a minor's account) for potential inflation-beating growth over the 15-21 year horizon.
Frequently Asked Questions
What is the current Sukanya Samriddhi Yojana interest rate?
The current SSY interest rate is 8.2% per annum (as of Q1 FY 2025-26). The interest is compounded annually and credited to the account on 31 March each year. The rate is set by the Ministry of Finance and reviewed quarterly, though it has changed infrequently in recent years. It was raised to 8.2% from 8.0% in January 2024. Always verify the current rate at the India Post website or the Ministry of Finance notification before making investment decisions, as it can change any quarter.
When can I make a partial withdrawal from SSY and how much?
You can make a partial withdrawal from SSY when the girl child turns 18 years old (or passes Class 10, whichever is earlier), subject to the withdrawal being used for higher education or marriage expenses. The maximum amount you can withdraw is 50% of the account balance as on the end of the previous financial year. For example, if the balance on 31 March before her 18th birthday is ₹10 lakh, the maximum one-time withdrawal is ₹5 lakh. The withdrawal can be taken in one lump sum or in installments (maximum 5 installments over 5 years). You must provide proof of admission or a fee demand letter from the educational institution.
What happens if I miss depositing in a year — is there a penalty?
If you fail to make the minimum annual deposit of ₹250 in any financial year, the SSY account is considered "defaulted" (also called "irregular"). To reactivate it, you must pay the outstanding minimum deposits for each missed year along with a penalty of ₹50 per defaulted year. There is no interest penalty on the missed amounts — the account continues to earn interest on the existing balance during the default period. The account can be regularized any time before its maturity. It is advisable to set up an auto-debit from your bank account to avoid missing deposits.
Can I transfer a Sukanya Samriddhi account between banks or post offices?
Yes, SSY accounts can be transferred freely between any authorized bank and post office across India. As of 2019, you can even transfer the account between a post office and a bank. To transfer, submit a transfer request form at the current branch along with the original passbook and KYC documents. The process typically takes 2-4 weeks. This is useful when you relocate to a different city — you simply transfer the account to a bank or post office near your new location without losing any accumulated interest or benefits.
How does SSY compare to PPF for saving for a girl child?
Both SSY and PPF are EEE (Exempt-Exempt-Exempt) government-backed savings schemes, but they serve different purposes. SSY currently offers 8.2% vs PPF at 7.1% — a 1.1 percentage point advantage. However, SSY has a longer effective term (21 years from opening) vs PPF's 15-year term (extendable), making SSY more suitable for long-term goals like a daughter's higher education or marriage. PPF is more flexible — it allows partial withdrawals from year 7, loans against the balance from year 3, and can be extended indefinitely in 5-year blocks. SSY has stricter rules: deposits mandatory for only 15 years, account matures at 21 years or on marriage (whichever is earlier), and partial withdrawal is only allowed at age 18. For parents specifically saving for a daughter's future, SSY is the better choice due to the higher rate. For general family savings, PPF offers more flexibility.
Related Calculators
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- SIP Calculator — Systematic Investment Plan future value
- FD Calculator — Fixed Deposit maturity with compounding
- Section 80C Calculator — Maximise your ₹1.5L deductions
- Step-Up SIP Calculator — SIP with annual contribution increase