Sukanya Samriddhi Yojana (SSY) Calculator
The Sukanya Samriddhi Yojana (SSY) is one of the most popular government-backed small savings schemes providing high interest rates and tax benefits. It was launched as part of the "Beti Bachao, Beti Padhao" campaign to secure the financial future of the girl child. The scheme allows parents to build a significant corpus for their daughter's education and marriage expenses.
How Does the SSY Calculator Work?
Calculating the maturity amount of an SSY account can be complex because:
- Deposits are made only for the first 15 years.
- The account continues to earn interest for the next 6 years (until 21 years total).
- Interest is compounded annually.
Our SSY Calculator simplifies this by automatically computing the yearly compounding interest on your deposits. All you need to enter is your yearly investment amount and your daughter's age.
SSY Interest Rate & Rules (2025-2026)
Before investing, here are the critical rules you must know:
| Feature | Details |
|---|---|
| Interest Rate | ~8.2% p.a. (Revised Quarterly) |
| Min/Max Deposit | ₹250 to ₹1.5 Lakh per year |
| Deposit Period | 15 Years |
| Maturity Period | 21 Years (from account opening) |
| Tax Status | EEE (Exempt-Exempt-Exempt) |
Benefits of Sukanya Samriddhi Yojana
1. Highest Interest Rate: SSY typically offers the highest interest rate among all small savings schemes (like PPF, FD, RD), making it the best debt instrument for your daughter.
2. Triple Tax Benefits (EEE):
- The investment amount is tax-deductible under Section 80C (up to ₹1.5 Lakh).
- The interest earned annually is tax-free.
- The final maturity amount is completely tax-free.
3. Sovereign Guarantee: Since it is a government-backed scheme, your capital is completely safe with guaranteed returns.
4. Long-term Compounding: The 21-year lock-in period ensures that the money grows significantly due to the power of compounding involved.
How is SSY Interest Calculated?
The formula for SSY isn't a simple equation because deposits are made periodically. However, the logic is based on Compound Interest:
A = P(1 + r/100)^n
Where:
- P = Principal amount (Previous Balance + Current Year Deposit)
- r = Rate of interest
- n = Time in years (1 year for annual compounding)
Every year, the interest is calculated on the closing balance and added to the principal for the next year.
Frequently Asked Questions (FAQs)
Who can open an SSY account?
A parent or legal guardian can open an account for a girl child below the age of 10 years. Only one account per girl child is allowed, and a maximum of two accounts per family (three in case of twins/triplets).
What happens if I miss a deposit?
If you fail to deposit the minimum ₹250 in a financial year, the account becomes "In-Active". It can be revived by paying a penalty of ₹50 per year of default along with the minimum deposit amount.
When can I withdraw the money?
The account matures after 21 years. However, premature withdrawal is allowed for the girl's marriage (after age 18) or higher education.
Is the interest rate fixed for 21 years?
No, the interest rate is floating. The government declares the interest rate every quarter. However, once credited, the interest for that year is locked in.