About the Sukanya Samriddhi
Sukanya Samriddhi Yojana (SSY) is a government small savings scheme for the girl child. A parent or guardian can open the account at a post office or an authorised bank before the girl turns ten. This SSY calculator estimates the maturity value, the total deposited and the interest earned, with a year-wise table of how the balance grows until the account matures.
Parents and guardians use it to plan for a daughter's higher education and marriage. Because the scheme has carried one of the higher rates among small savings schemes and has enjoyed favourable tax treatment, it is a popular long-term option for families who prefer government-backed savings to market-linked products. The calculator shows what a steady yearly deposit could become by the time she is an adult.
Deposits are made for the first 15 years and the account matures 21 years after it is opened, so the balance continues to earn interest for six years after the last deposit. The result depends on the yearly deposit and the interest rate, which the government notifies every quarter and which will change over the life of the account. The rate field is editable so you can test different assumptions.
How to use it
- 1Enter the amount you will deposit each year, between ₹250 and ₹1,50,000.
- 2Enter the girl's current age; the account can be opened until she turns ten.
- 3Check the interest rate and edit it if the notified rate has changed.
- 4Read the maturity value and open the year-wise table to see the balance grow.
How this is calculated
Closing balance for a year = (opening balance + deposit for the year) × (1 + r) r = SSY interest rate ÷ 100, compounded annually. Deposits are counted for the first 15 years and assumed to be made at the start of each year; for years 16 to 21 the balance only earns interest. The closing balance of year 21 is the maturity value.
Frequently asked questions
What is the current Sukanya Samriddhi interest rate?
The SSY rate is notified by the Ministry of Finance every quarter together with other small savings schemes, so it can go up or down. The calculator is pre-filled with a recent rate. Check the current rate on the National Savings Institute website or with your bank or post office, and edit the field if needed.
How long do I have to deposit, and when does the account mature?
Deposits are required for 15 years from the date of opening. The account matures 21 years after opening, and it continues to earn interest between the 15th and 21st year even though no deposits are made. The account can also be closed at the time of the girl's marriage after she turns 18, subject to the scheme rules.
What are the minimum and maximum deposits?
The scheme prescribes a minimum and a maximum deposit in each financial year, currently ₹250 and ₹1,50,000. Deposits can be made in one go or in instalments. If the minimum is not deposited in a year, the account is treated as being in default and can be regularised by paying a small penalty. The government may revise these limits.
Can money be withdrawn before maturity?
A partial withdrawal, up to half of the balance at the end of the previous financial year, is allowed for the girl's higher education once she turns 18 or has passed the tenth standard. Premature closure is permitted only in specific circumstances set out in the scheme rules. The calculator assumes no withdrawals.
Is Sukanya Samriddhi tax-free?
SSY has enjoyed exempt status: the interest and the maturity amount have been tax-free, and deposits have qualified for deduction under the old tax regime within the overall limit popularly known as Section 80C. Tax provisions are revised from time to time, so confirm the current treatment before relying on it.