Calculate SSY Maturity Amount
Total Deposited
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Interest Earned
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Maturity Amount
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What is Sukanya Samriddhi Yojana (SSY)?
Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme launched under the Beti Bachao, Beti Padhao campaign. It's designed to secure the financial future of the girl child for education and marriage expenses.
Key Features
- Eligibility: Parents or legal guardians of a girl child under 10 years of age
- Interest Rate: 8.2% p.a. (compounded annually, reviewed quarterly)
- Deposit Period: 15 years from account opening
- Maturity: 21 years from account opening, or on marriage after age 18
- Tax Status: EEE — deposits get 80C benefit, interest and maturity are tax-free
- Limit: ₹250 (min) to ₹1,50,000 (max) per year
- Accounts: Maximum 2 SSY accounts (one per girl child, max 2 daughters)
SSY Calculation Example
Maturity = Deposits + Compound Interest over 21 years
Example: ₹1.5L/year for a 1-year-old daughter
- Deposits: ₹1,50,000 × 15 years = ₹22,50,000
- Interest earned: ≈ ₹49,32,000 (at 8.2%)
- Maturity amount: ≈ ₹71,82,000 (completely tax-free!)
Your daughter receives about ₹71.8 lakh at age 22 for ₹1.5 lakh a year (₹12,500 a month on average), deposited at the start of each year for 15 years. The remaining 6 years (year 16-21) earn interest on the accumulated balance without any new deposits.
SSY vs Other Girl Child Savings Options
| Feature | SSY | PPF | FD | SIP (Equity MF) |
|---|---|---|---|---|
| Returns | 8.2% | 7.1% | 6.5–7.5% | 10–15% |
| Tax Status | EEE (fully free) | EEE (fully free) | Interest taxable | LTCG taxable |
| Risk | Zero (Govt) | Zero (Govt) | Zero (Bank) | Market-linked |
| Lock-in | 21 years | 15 years | Flexible | None/3yr ELSS |
| 80C Benefit | Yes | Yes | 5yr FD only | ELSS only |
Verdict: SSY offers the highest guaranteed return among all government schemes with full tax-free status. It's the best risk-free option specifically for a girl child's long-term goals.
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Frequently Asked Questions
A parent or legal guardian can open an SSY account for a girl child who is under 10 years of age. Maximum 2 SSY accounts can be opened (one per daughter). In case of twin/triplet girls, a third account is allowed with birth certificate proof.
If the minimum deposit of ₹250 is not made in a year, the account becomes irregular. It can be revived by paying a penalty of ₹50 per year of default plus the minimum deposit for each missed year. The account must be revived within 15 years of opening.
Partial withdrawal of up to 50% of the previous year's balance is allowed after the girl turns 18, specifically for higher education expenses (with admission proof). Premature closure is allowed after 5 years in cases of medical emergency or death of the guardian.
SSY accounts can be opened at any post office or authorized commercial banks (SBI, PNB, BOB, ICICI, HDFC, Axis, etc.). Documents needed: girl's birth certificate, parent's ID/address proof, and 2 passport photos.
SSY offers a higher interest rate (8.2%) compared to PPF (7.1%), and both enjoy EEE tax status. However, SSY is only for girl children and has a 21-year lock-in vs PPF's 15 years. SSY's annual limit is lower (₹1.5L vs PPF's ₹1.5L). For parents of daughters, SSY is better for higher returns.