About the SSY calculator
Sukanya Samriddhi Yojana (SSY) is a government savings scheme for a girl child. A parent or guardian opens the account before she turns ten. Deposits are made for 15 years, and the account matures 21 years after it was opened.
How the SSY calculator works
Each yearly deposit is treated as made at the start of the year and compounds annually. After the contribution years, the balance keeps earning interest until the projection year.
The defaults show 15 deposit years and a 21-year projection; the rate is held constant though the government reviews it every quarter.
Worked example
- Annual deposit
- ₹1,00,000
- Assumed annual rate
- 8.2%
- Contribution years
- 15
- Projection years
- 21
Example inputs
- Estimated maturity value
- ₹47,88,079.45
- Total contributed
- ₹15,00,000
- Growth / interest
- ₹32,88,079.45
Calculated result
Why use a SSY calculator?
- See what yearly deposits could be worth when the account matures.
- Compare depositing the maximum with a smaller amount.
- Plan for education costs when she turns 18.
SSY calculator FAQs
Who can open an SSY account?
A parent or legal guardian, for a girl child below ten years of age, generally for up to two daughters, with exceptions for twins or triplets.
How much can be deposited?
At least ₹250 and at most ₹1.5 lakh in a financial year. Check India Post for the current rules.
When can money be withdrawn?
Up to half the balance can be withdrawn for her education after she turns 18 or passes class 10. The account can also be closed on her marriage after 18.
Is SSY tax-free?
Deposits can qualify for a deduction under the old tax regime, and the interest and maturity amount are exempt from tax.
What if a yearly deposit is missed?
The account becomes irregular and can be revived with a penalty and the missed minimum deposits, under the scheme rules.