Sukanya Samriddhi Yojana (SSY) Calculator

How Sukanya Samriddhi Yojana (SSY) Works

Sukanya Samriddhi Yojana is a small savings scheme launched by the Government of India exclusively for the girl child. It offers the highest tax-free interest rate among all small savings schemes and is designed to build a corpus for a girl's education and marriage expenses.

SSY Calculation Explained

SSY follows a unique deposit and maturity structure:

• Deposits: Made for 15 years from the date of account opening.
• Interest Accrual: Continues for 21 years from account opening (even after deposits stop at year 15).
• Maturity: Account matures at the end of 21 years. Full balance can be withdrawn.

Example Calculation

For a yearly deposit of ₹1,50,000 at 8.2% p.a. opened at girl's age 1:

Tax Benefits of SSY (EEE Status)

Key SSY Rules You Should Know

1. 1 Eligibility: Account can be opened for a girl child from birth till she turns 10 years. Only one account per girl child. Maximum two accounts per family (third allowed for twins/triplets).
2. 2 Minimum/Maximum Deposit: Minimum ₹250 and maximum ₹1,50,000 per financial year. Deposits can be made in lump sum or monthly.
3. 3 Partial Withdrawal at 18: Up to 50% of the balance at the end of the preceding financial year can be withdrawn when the girl turns 18, for the purpose of higher education.
4. 4 Premature Closure: Account can be closed before 21 years only upon the girl's marriage (after age 18) or in case of the account holder's death or life-threatening disease.
5. 5 Penalty for Default: If the minimum ₹250/year is not deposited, a penalty of ₹50 per year is charged, and the account becomes dormant. It can be revived by paying the penalty + missed deposits.

SSY vs PPF for Girl Child

Frequently Asked Questions