Sukanya Samriddhi Yojana Calculator
See your daughter's SSY corpus — deposits for 15 years at the statutory 8.2% keep compounding until the account matures in year 21.
Year-wise SSY balance (deposits stop after year 15)
| Year | Deposited | Balance at year end |
|---|---|---|
| 1 | ₹1,50,000 | ₹1,62,300 |
| 2 | ₹3,00,000 | ₹3,37,909 |
| 3 | ₹4,50,000 | ₹5,27,917 |
| 4 | ₹6,00,000 | ₹7,33,506 |
| 5 | ₹7,50,000 | ₹9,55,954 |
| 6 | ₹9,00,000 | ₹11,96,642 |
| 7 | ₹10,50,000 | ₹14,57,067 |
| 8 | ₹12,00,000 | ₹17,38,846 |
| 9 | ₹13,50,000 | ₹20,43,732 |
| 10 | ₹15,00,000 | ₹23,73,618 |
| 11 | ₹16,50,000 | ₹27,30,554 |
| 12 | ₹18,00,000 | ₹31,16,760 |
| 13 | ₹19,50,000 | ₹35,34,634 |
| 14 | ₹21,00,000 | ₹39,86,774 |
| 15 | ₹22,50,000 | ₹44,75,989 |
| 16 | ₹22,50,000 | ₹48,43,020 |
| 17 | ₹22,50,000 | ₹52,40,148 |
| 18 | ₹22,50,000 | ₹56,69,840 |
| 19 | ₹22,50,000 | ₹61,34,767 |
| 20 | ₹22,50,000 | ₹66,37,818 |
| 21 | ₹22,50,000 | ₹71,82,119 |
What is the Sukanya Samriddhi Yojana (SSY)?
The Sukanya Samriddhi Yojana (SSY) is a flagship government savings scheme launched under the "Beti Bachao, Beti Padhao" campaign to secure the financial future of the girl child. Administered by the Ministry of Finance and operated through post offices and authorized commercial banks, SSY offers the highest guaranteed interest rate among all small-savings schemes — currently fixed at 8.2% per annum.
An SSY account can be opened by a parent or legal guardian for a girl child from her birth up to the age of 10 years. The scheme features a 15-year deposit window followed by a 6-year deposit-free compounding period, maturing exactly 21 years from the date of account opening.
Deposit Rules, Timeline & Account Operations
Key operational and statutory rules governing Sukanya Samriddhi accounts include:
- Deposit Limits: The minimum annual deposit is ₹250 (failure to deposit incurs a ₹50 penalty per year of default). The statutory maximum deposit is ₹1,50,000 per financial year per child. Deposits can be made in multiples of ₹50 via cash, cheque, demand draft, or online net-banking.
- Two Daughters Limit: An account can be opened for a maximum of two daughters per family. An exception allows accounts for triplets or twins born in the second delivery, supported by medical birth certificates.
- The 15 vs 21 Years Timeline: Contributions are mandatory/permitted for the first 15 years only. From year 16 to 21 (6 years), no fresh deposits are required or accepted, but your accumulated balance continues to compound at the sovereign interest rate until maturity.
How the SSY Compounding Math Works
M = P × [ ((1 + i)¹⁵ − 1) ÷ i ] × (1 + i) × (1 + i)⁶
- M — Total maturity corpus received by the daughter at Year 21.
- P — Annual investment deposited at the start of each financial year.
- i — Declared annual interest rate as a decimal (8.2% → 0.082).
- (1 + i)¹⁵ — Compounding build-up across the 15 active deposit years under annuity-due convention.
- (1 + i)⁶ — Six deposit-free years during which the corpus compounds autonomously.
Because the government fixes the rate centrally across both phases, the final corpus benefits tremendously from the 6-year hands-off compounding multiplier.
A Worked Example: ₹1.5 Lakh Annual Investment Over 21 Years
Case Study: Investing the maximum ₹1,50,000 every year from age 1 to age 15 at 8.2%:
- Total Deposited Over 15 Years: ₹22,50,000 (₹1.5 Lakh × 15)
- Corpus at End of 15th Deposit Year: ~₹44,75,989
- Accumulated Interest Across 21 Years: ₹49,32,119
- Maturity Corpus at Year 21: ₹71,82,119 (~₹71.82 Lakh)
Over the full 21-year term, interest alone generates ₹49.32 Lakh — more than double your actual investment! The 6 deposit-free years alone add roughly ₹27 Lakh purely from compound interest.
SSY Deposit vs Maturity Projections at Statutory 8.2%
| Yearly Deposit | Invested (15 Yrs) | Balance at Year 15 | Maturity Corpus (Year 21) |
|---|---|---|---|
| ₹12,000 (₹1,000/mo) | ₹1,80,000 | ₹3,58,079 | ₹5,74,570 |
| ₹30,000 (₹2,500/mo) | ₹4,50,000 | ₹8,95,198 | ₹14,36,424 |
| ₹60,000 (₹5,000/mo) | ₹9,00,000 | ₹17,90,396 | ₹28,72,848 |
| ₹1,00,000 | ₹15,00,000 | ₹29,83,993 | ₹47,88,079 |
| ₹1,50,000 (Maximum) | ₹22,50,000 | ₹44,75,989 | ₹71,82,119 |
Calculated using annual compounding at the current notified rate of 8.2% per annum. Small-savings interest rates are subject to quarterly government revisions.
Partial Withdrawal for Higher Education & Premature Closure
SSY balances can be accessed for critical milestones in the girl child's life:
- Higher Education Withdrawal: Up to 50% of the balance standing at the end of the preceding financial year can be withdrawn once the girl child turns 18 years of age or passes the 10th standard. The withdrawal must fund verified educational expenses (college fees, admission charges). Withdrawals can be taken in a lump sum or in up to 5 annual instalments.
- Closure on Marriage: Premature closure is permitted if the girl child marries after reaching the legal age of 18 years, supported by an affidavit and proof of age. The account cannot be operated or continued post-marriage.
- Compassionate Closure: Allowed upon the untimely death of the girl child or on compassionate grounds (life-threatening illness of the child or death of the guardian), earning standard post office savings interest.
Tax Benefits: Complete EEE Exemption under Section 10(11A)
Sukanya Samriddhi Yojana offers sovereign-grade tax shelter under the Indian Income Tax Act:
- Section 80C Deduction: Deposits up to ₹1,50,000 qualify for deduction under Section 80C under the Old Tax Regime.
- Tax-Free Interest: The 8.2% annual interest credited is completely exempt from income tax under Section 10(11A) with zero TDS, regardless of tax regime.
- Tax-Free Maturity: The full maturity corpus (exceeding ₹70 Lakh for max contributors) is paid directly to the girl child 100% tax-free.
SSY questions, answered
Key rules on eligibility, 21-year maturity timeline, education withdrawals, and tax exemptions.
A biological parent or legal guardian can open an SSY account for a resident Indian girl child from her birth up to the age of 10 years. Only one account is permitted per girl child, and a family can open accounts for a maximum of two daughters (except for twins/triplets in the second birth).
The current notified interest rate for SSY is 8.2% per annum, compounded annually. It is the highest return available among all government small-savings schemes in India and is reviewed quarterly by the Ministry of Finance.
No. You only deposit money for the first 15 years from account opening. During the remaining 6 years (years 16 to 21), no deposits are required or accepted, but your accumulated balance continues to compound at the prevailing interest rate until maturity.
Partial withdrawal of up to 50% of the account balance at the end of the preceding financial year is allowed once the daughter turns 18 years of age or completes the 10th standard. The funds must be utilized for verified university fees and admission expenses.
If the girl child marries after attaining 18 years of age, the account can be closed prematurely upon submitting proof of marriage and age. Applications must be submitted between 1 month before marriage and 3 months after the wedding date.
The entire maturity proceeds are paid directly to the girl child herself upon submitting her identity proof, bank details, and the original passbook. The parent/guardian cannot claim the maturity proceeds once the daughter becomes an adult.
If the minimum ₹250 is not deposited in any financial year, the account is treated as defaulted. You can regularize the account by paying a nominal penalty of ₹50 per defaulted year along with the minimum arrear deposit of ₹250 for each missed year.
Yes. SSY accounts are 100% portable across India free of charge. You can transfer the account from one post office to another, from a post office to an authorized bank (e.g., SBI, HDFC, ICICI, PNB), or between banks by submitting a transfer request form and the passbook.
No. SSY retains full EEE (Exempt-Exempt-Exempt) tax exemption under Section 10(11A) of the Income Tax Act. Both the annual interest and the maturity proceeds are 100% tax-free under both the Old and New Tax Regimes.
If the girl child acquires foreign citizenship or becomes a non-resident Indian, the account holder or guardian must inform the bank/post office within 1 month. The account will be closed prematurely, and interest ceases from the date of change in citizenship/residency status.
Most major public and private banks (including SBI, PNB, Canara Bank, and ICICI) allow online opening of SSY accounts for existing KYC-compliant internet banking users. Standing instructions can also be automated for monthly or annual contributions.