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
₹
Min: ₹250, Max: ₹1,50,000 per yearyears
Account can be opened till age 10%
Current: 8.2% (FY 2024-25)👧
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