How to Use the Sukanya Samriddhi Yojana Calculator
Enter how much you plan to deposit each year (₹250 minimum to ₹1.5 lakh maximum), the current SSY interest rate, and your daughter’s age. The calculator projects the full 21-year life of the account: deposits for the first 15 years, then six more years of interest-only growth until maturity. The result card shows the age at which your daughter receives the tax-free maturity amount.
Sukanya Samriddhi Yojana Calculator Formula
A = Σ D×(1+r)^(22−y) for y = 1…15, then compounding to year 21D= Yearly deposit (₹250 to ₹1,50,000)r= Annual interest rate (8.2% for the current quarter)y= Year of deposit (1 to 15); account matures at year 21
Example Calculation
Depositing ₹1.5 lakh every year at 8.2% for a daughter aged 3:
15 deposits of ₹1.5L grow to ≈ ₹44.8L by year 15; that balance then compounds untouched for 6 more years at 8.2%
Maturity ≈ ₹71.8 lakh, tax-free, when she turns 24
Why SSY is the strongest small-savings scheme for a daughter
Sukanya Samriddhi Yojana is a Government of India savings scheme created for the education and marriage costs of a girl child. Three things make it stand out from every other guaranteed-return option: it consistently pays the highest rate among all small-savings schemes (currently 8.2%, versus 7.1% on PPF), the entire corpus is tax-free at maturity, and the money is legally the daughter’s — the account transfers to her control at 18.
The trade-off is a genuinely long lock-in. The account runs 21 years from opening, and beyond the 50% education withdrawal at 18, the money is not accessible. That lock-in is a feature as much as a limitation: it converts small yearly deposits into a large, untouchable corpus that arrives precisely when college fees do.
The rules that matter
- Eligibility: girl child below 10 years; one account per girl, two per family.
- Deposits: ₹250 minimum to ₹1.5 lakh maximum per financial year, for 15 years from opening.
- Maturity: 21 years from account opening (not when the girl turns 21).
- Rate: notified quarterly by the Ministry of Finance; compounded annually.
- Tax: EEE — 80C deduction on deposits (old regime), tax-free interest, tax-free maturity.
- Education withdrawal: up to 50% of the previous year-end balance after she turns 18.
How the maths compounds in her favour
Because deposits run for only 15 years but the account earns for 21, the final six years are pure compounding on a large balance — at 8.2%, the balance grows by roughly 60% in those deposit-free years alone. In the worked example above, ₹22.5 lakh of total deposits becomes about ₹71.8 lakh, meaning interest contributes over two-thirds of the final corpus.
Starting early matters more here than in almost any other scheme. Opening the account when your daughter is 1 instead of 9 means the tax-free maturity lands at age 22 — right at postgraduate or early-career age — instead of age 30, and every deposit gets the full 21-year runway.
SSY or PPF — or both?
Parents often ask whether to put the yearly ₹1.5 lakh into SSY or PPF. SSY pays about 1 percentage point more and locks the money to the daughter’s milestones; PPF is more flexible (loans from year 3, partial withdrawals from year 7, extendable in 5-year blocks) and stays in your name. If the goal is specifically your daughter’s education, SSY’s higher rate and enforced discipline usually win. Many families run both: SSY for the daughter, PPF for their own retirement — the 80C limit is shared, but the schemes are not mutually exclusive.
Frequently Asked Questions
What is the current SSY interest rate?
The Sukanya Samriddhi Yojana rate is 8.2% per annum for the current quarter, compounded annually. The Ministry of Finance notifies the rate every quarter — it is consistently the highest among all small-savings schemes, above PPF.
Who can open an SSY account?
A parent or legal guardian can open one account per girl child (maximum two girls per family, three for twins) any time before the girl turns 10. Accounts are opened at post offices and authorised banks.
Is SSY maturity really tax-free?
Yes — SSY has EEE status. Deposits qualify for the 80C deduction (old regime), the interest earned is exempt, and the entire maturity amount is tax-free.
What happens if I miss a year’s deposit?
The account becomes "defaulted" but can be regularised by paying a ₹50 penalty per defaulted year along with the minimum ₹250 deposit. Interest continues to accrue on the balance either way.
Can money be withdrawn before 21 years?
Up to 50% of the balance can be withdrawn once the girl turns 18, for higher education (with proof of admission). The account can also be closed early for her marriage after she turns 18.
When do deposits stop?
You deposit for 15 years from account opening. Years 16 to 21 earn interest with no further deposits, and the account matures 21 years after opening — regardless of the girl’s age at opening.
Assumptions & Methodology
- Deposits are made at the start of each financial year, for 15 years from account opening.
- The account matures 21 years from opening; interest continues to accrue in years 16–21 with no deposits.
- Interest is compounded annually at the rate you set. The government revises the SSY rate every quarter, so actual maturity will differ if rates change.
- Premature closure (marriage after 18) and 50% education withdrawal at 18 are not modelled.
Sources
All calculations run in your browser and are provided for information only — they are not investment, tax or legal advice. Verify current rates and rules with the official source above before acting.