SSY Calculator
Calculate Sukanya Samriddhi Yojana maturity for girl child. 8.2% interest, 21-year maturity with EEE tax benefits. Best savings scheme for daughters.
SSY Investment Details
Enter SSY details for your daughter
About SSY (Sukanya Samriddhi Yojana)
SSY is a government savings scheme for girl child's education and marriage. Offers highest interest among all government small savings schemes with complete tax exemption (EEE status).
Key Features
- Eligibility: Girl child below 10 years
- Interest Rate: 8.2% p.a. (FY 2024-25, revised quarterly)
- Deposit Period: 15 years from account opening
- Maturity: 21 years from account opening (or marriage after 18)
- Min Deposit: ₹250/year | Max Deposit: ₹1,50,000/year
- Accounts: Max 2 per family (for 2 daughters), 3rd allowed for twins
- Tax Benefit: EEE status (deposits, interest, maturity all tax-free)
Deposit Rules
- Deposits allowed for first 15 years only
- After 15 years, account continues to earn interest till maturity
- Can deposit in lump sum or installments (max 12 per year)
- Penalty ₹50 per year if min deposit (₹250) not made
- Account becomes inactive if default continues
Withdrawal Rules
- Partial Withdrawal: 50% of balance allowed after girl turns 18 (for education)
- Premature Closure: After 5 years in case of girl's death or extreme hardship
- Marriage: Account can be closed after girl turns 18 and gets married
- Full Maturity: 21 years from opening or marriage after 18 (whichever is earlier)
Tax Benefits
- Section 80C: Deposits eligible for deduction up to ₹1.5L
- Interest: Completely tax-free (unlike FD, RD)
- Maturity Amount: Tax-free withdrawal
- EEE Status: Exempt-Exempt-Exempt (best tax treatment)
Account Transfer
- Transferable anywhere in India (post office/authorized banks)
- Girl can operate account after turning 18
- Guardian operates till girl turns 18
SSY vs PPF (for Girl Child)
- Interest: SSY 8.2% vs PPF 7.1% (SSY better)
- Lock-in: SSY 21 years vs PPF 15 years
- Deposit: Both ₹1.5L max/year
- Tax: Both EEE status
- Loan: PPF allows loan, SSY doesn't
- Recommendation: SSY first (₹1.5L), then PPF for additional savings
Use Cases for Maturity Amount
- Higher Education: College fees, abroad studies
- Marriage: Wedding expenses, trousseau
- Business: Seed capital for startup
- Home: Down payment for house
- Continue Investing: Re-invest in mutual funds/stocks
Example Calculation
Scenario:
- Girl's age: 2 years
- Yearly deposit: ₹1,50,000 (max)
- Deposit period: 15 years (till age 17)
- Maturity: Age 23 (21 years from opening)
Result:
- Total deposited: ₹22,50,000
- Maturity amount: ~₹69,00,000 @ 8.2%
- Interest earned: ₹46,50,000 (tax-free!)
Important Points
- Interest rate reset quarterly by government
- Nomination facility available
- PassBook issued (like savings account)
- Can open at post office or authorized banks (SBI, ICICI, HDFC, etc.)
- Documents needed: Birth certificate, parent's ID, address proof
- Joint account not allowed (only in girl's name)
Who Should Invest in SSY?
- Every parent with daughter(s) below 10 years
- Highest guaranteed returns among government schemes
- Complete tax exemption (beats PPF, NSC, FD)
- Forced savings for daughter's future
- Government-backed safety
SSY Calculator for Indian users
The SSY Calculator helps you turn a financial question into a clear number before you apply for a product, invest money, file taxes or compare alternatives. Instead of relying on rough mental math, enter your actual values and review the result, cost, return or tax impact in a structured way.
This page is designed as a practical SEO and user landing page: the calculator comes first, followed by the formula, a worked example, comparison context, frequently asked questions and links to related MONEX MINT tools. That structure helps users finish the calculation and gives search engines enough context to understand the page beyond the widget.
For best results, run at least two scenarios. Use a conservative rate for planning, a realistic market or lender rate for comparison, and a stress case to see what happens if interest rates, returns, salary, taxes or inflation move against you.
How it's calculated
Maturity Value = Contributions + Accrued Interest Interest depends on scheme rate, tenure and deposit rules
- Contribution — Amount deposited under the scheme
- Rate — Applicable scheme interest or return assumption
- Tenure — Scheme holding period or retirement period
Worked example for SSY Calculator
- Enter the main amount, such as loan amount, deposit, investment, income or transaction value.
- Add the rate, tenure, slab, contribution or withdrawal value used by the calculator.
- Review the calculated result and compare it with at least one alternate scenario.
- Use the related calculators below to test adjacent decisions before finalizing.
Result: The final result should be used as a decision-support estimate, then verified against the lender, fund house, tax rule, scheme document or official statement before action.
SSY Calculator planning checklist
| Step | What to check | Why it matters |
|---|---|---|
| Inputs | Use realistic values, not rounded guesses | Small input changes can materially alter the final result |
| Rate | Confirm whether the rate is annual, monthly, flat, reducing or scheme-specific | Wrong rate type is the most common source of bad estimates |
| Tenure | Compare short and long periods | Longer horizons can reduce cash flow but increase total cost or uncertainty |
| Tax/fees | Include taxes, fees, charges or inflation where relevant | The net result matters more than the headline number |
| Next action | Save the result and compare with related calculators | A single number is useful; a comparison is decision-ready |
Tips and best practices
- Use current official rates or lender quotes where possible.
- Compare best case, base case and conservative case before acting.
- Do not judge a financial product only by EMI, maturity value or tax saved; look at total cost and risk.
- Recalculate whenever rates, salary, tax slabs or scheme rules change.
- Use the sitemap and calculator hub to move between related tools quickly.
Frequently asked questions
What is the SSY Calculator?
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MONEX MINT calculators are educational planning tools. Results are estimates and may differ from final figures issued by banks, tax departments, AMCs, employers, registrars or government scheme providers.