Sukanya Samriddhi Yojana Calculator

The Sukanya Samriddhi Yojana (SSY) is a government-backed small savings initiative launched under the Beti Bachao Beti Padhao campaign. Designed to help parents accumulate dedicated funds for a girl child's higher education and marriage, it currently offers one of the highest sovereign-guaranteed interest rates in India along with complete Exempt-Exempt-Exempt (EEE) tax status.

The FinToolkit Sukanya Samriddhi Calculator projects the complete 21-year maturity value, tracks annual deposits across the 15-year contribution window, and calculates cumulative tax-free interest earned.

Statutory operational rules of Sukanya Samriddhi Yojana

1. Eligibility & opening: An account can be opened in the name of a girl child by her natural or legal guardian anytime from birth until she reaches 10 years of age. A family can open accounts for a maximum of two girl children (with exceptions for twins or triplets).
2. Contribution tenure: Deposits must be made for 15 years from the date of account opening.
3. Total account tenure (21 years): The account matures upon completion of 21 years from the date of opening, or upon the marriage of the girl child after she reaches age 18 (whichever occurs first). During years 16 through 21 (when no fresh deposits are required), the accumulated balance continues to earn the notified government interest rate.
4. Deposit limits: Minimum deposit of ₹250 and maximum deposit of ₹1,50,000 per financial year.

Worked SSY maturity projection

Consider opening an SSY account for a newborn girl child, depositing the maximum annual limit of ₹1,50,000 each year for 15 years, assuming the prevailing interest rate of 8.20% per annum across the 21-year account tenure.

Depositing ₹1.5 Lakh annually for 15 years requires a total out-of-pocket investment of ₹22,50,000. Over 21 years, compounding interest generates ₹49,32,119, delivering a final tax-free maturity value of ₹71,82,119.

The EEE tax exemption

• Deposit exemption: Annual deposits qualify for income tax deduction under Section 80C up to ₹1,50,000 (under the Old Tax Regime).
• Tax-free interest accumulation: Annual interest credited to the SSY account is completely exempt from income tax under Section 10(11A).
• Tax-free maturity proceeds: The entire maturity corpus withdrawn after 21 years (or upon marriage after age 18) carries zero tax under both the Old and New Tax Regimes.

Frequently asked questions

Can funds be withdrawn before 21 years for higher education?

Yes. Partial withdrawal of up to 50% of the balance at the end of the preceding financial year is permitted for the girl child's higher education once she turns 18 or passes Class 10, upon submitting proof of college admission and fee requirements.

Who operates the account?

The account is operated by the guardian until the girl child attains the age of 18 years. Once she turns 18, she becomes the account holder and operates the account directly upon submitting her KYC documents.

What happens if I miss the minimum ₹250 deposit in a year?

The account becomes a "default account." It can be regularized anytime before maturity by paying a penalty fee of ₹50 per default year along with the minimum deposit of ₹250 for each lapsed year.

Is SSY interest rate fixed for 21 years?

No. The interest rate is reviewed and notified quarterly by the Ministry of Finance, Government of India. The rate has historically been set 0.5% to 1.0% higher than Public Provident Fund (PPF) rates.

Related child education & savings tools

• PPF Calculator — compare Sukanya Samriddhi Yojana with the Public Provident Fund.
• Goal Planner — calculate required monthly savings for higher education targets.
• SIP Calculator — evaluate market-linked equity mutual fund investing for children's future education.
• Inflation Calculator — project future higher education college tuition costs.