π§ SSY Calculator
Sukanya Samriddhi Yojana maturity at 8.2% per year.
Maturity value (21 years)
Estimates for planning only, not financial advice.
Deposit βΉ1,00,000 a year into Sukanya Samriddhi Yojana at 8.2 percent and the account matures at about βΉ47,88,079 after 21 years. You put in βΉ15,00,000 across the 15 deposit years; the remaining βΉ32,88,079 is interest, and every rupee of it is tax-free. The catch behind the headline number: deposit each year's amount in early April and it earns nearly the full year's interest; deposit it in March and you lose a year of compounding on every installment.
How to Use This Calculator
Enter your planned yearly deposit (βΉ250 minimum, βΉ1,50,000 maximum per financial year) and the current interest rate, 8.2 percent for FY 2025-26. The calculator applies the real scheme rules: deposits for 15 years, compounding for the full 21-year term, interest credited annually.
Enter the yearly deposit you can sustain for 15 years. Missing a year draws a βΉ50 penalty and needs revival, so pick a figure you will actually maintain.
Check the rate. SSY rates are revised quarterly by the government; 8.2 percent has held since January 2024.
Read the maturity value, the interest earned, and note the EEE tax status: no tax on deposit (80C), interest, or maturity.
The Formula
SSY compounds annually, not monthly, which this calculator mirrors exactly: each year's deposit is added, then the whole balance grows by r. The clever part of the scheme is years 16 to 21, when you cannot deposit anymore but the full balance keeps compounding. On the βΉ1,00,000 example, those six deposit-free years add roughly βΉ16 lakh of pure growth. That is why starting early matters more than depositing more.
Worked Example
Yearly deposit βΉ1,00,000 at 8.2 percent, made at the start of each financial year. After 15 deposit years the balance is about βΉ29,83,993 (deposits of βΉ15,00,000 plus interest). It then compounds untouched for 6 more years: 29,83,993 x 1.082^6 = 29,83,993 x 1.6046 = βΉ47,88,079 at maturity. Total interest: 47,88,079 - 15,00,000 = βΉ32,88,079, all tax-free. At the maximum βΉ1,50,000 a year, maturity reaches βΉ71,82,119 (interest βΉ49,32,119), matching published bank calculators. Deposit the same amounts at each year-end instead and maturity drops to about βΉ44,25,212: timing is worth three and a half lakh rupees here.
SSY Rules That Matter
The account opens for a girl child below age 10, one account per child, maximum two accounts per family (triplets are the exception). Deposits run 15 years from opening; the account matures 21 years from opening or at her marriage after 18, whichever is earlier. Partial withdrawal up to 50 percent is allowed after she turns 18 for higher education. Premature closure is permitted for the child's medical emergencies or the guardian's death, with interest paid at the post office savings rate for the period.
| Yearly deposit | Total deposited | Maturity at 8.2% | Tax-free interest |
|---|---|---|---|
| βΉ25,000 | βΉ3,75,000 | βΉ11,06,303 | βΉ7,31,303 |
| βΉ50,000 | βΉ7,50,000 | βΉ22,12,606 | βΉ14,62,606 |
| βΉ1,00,000 | βΉ15,00,000 | βΉ44,25,212 | βΉ29,25,212 |
| βΉ1,50,000 | βΉ22,50,000 | βΉ66,37,818 | βΉ43,87,818 |
SSY vs PPF vs Mutual Funds
SSY at 8.2 percent beats PPF's 7.1 percent and matches the Senior Citizens Savings Scheme, while keeping full EEE tax treatment that fixed deposits cannot touch. Equity mutual funds may return more over 21 years, 10 to 12 percent historically, but with volatility and LTCG tax above βΉ1.25 lakh a year. My take: SSY is the safe core for a daughter's education fund, not the whole plan. Pair a maxed SSY with equity exposure elsewhere if your horizon is genuinely 15-plus years. The scheme's real edge is behavioral: the 15-year lock-in forces the compounding most investors interrupt.
Common Mistakes
Three errors cost families real money. First, depositing late in the financial year: interest is calculated on the lowest balance between the 5th and month-end, so deposit before the 5th of April to earn the full year's interest. Second, stopping deposits mid-way: the account goes dormant, revival costs penalties, and the compounding gap never comes back. Third, treating the rate as guaranteed: the government revises small-savings rates quarterly, and 8.2 percent could fall. Model 7.5 percent as your conservative case using the rate field above.
SSY vs PPF: Which for Your Daughter?
Parents choosing between Sukanya Samriddhi and the Public Provident Fund are really choosing between rate and flexibility. SSY currently pays 8.2 percent against PPF's 7.1 percent, a gap worth lakhs over 21 years, and both are EEE tax-free. But PPF allows partial withdrawals from year 7 and loans from year 3, while SSY locks up until 18 (50 percent for education) and 21 for the rest. SSY caps at βΉ1.5 lakh a year per child; PPF caps at βΉ1.5 lakh per person across all accounts.
The practical answer for most families: run both. Max SSY first for the higher rate on the daughter's earmarked goal, then use PPF for the family's flexible long-term corpus. And remember the deposit-timing lesson from the worked example: SSY interest depends on when money lands in the account each year, so automate early-April deposits and stop donating a year of compounding to procrastination.
Estimates for planning only, not financial advice.
Frequently Asked Questions
What is the current SSY interest rate?
8.2 percent per annum for FY 2025-26, unchanged since January 2024. The rate is revised quarterly by the Finance Ministry, so future years may differ. Interest compounds annually and is credited at the end of each financial year on the lowest balance between the 5th and the end of each month.
How much will I get if I deposit βΉ1.5 lakh yearly in SSY?
About βΉ71,82,119 at maturity after 21 years at 8.2 percent, assuming each yearly deposit lands in early April so it earns nearly the full year's interest. You deposit βΉ22,50,000 across 15 years and earn roughly βΉ49,32,119 in tax-free interest. This is the maximum allowed deposit, so it is also the maximum maturity under current rates.
For how many years do I need to deposit in SSY?
15 years from account opening. The account itself runs 21 years, so the balance compounds untouched for the final 6 years. Those deposit-free years contribute a large share of the final corpus, which is why opening the account early in the child's life matters so much.
Is SSY tax-free?
Yes, fully. SSY has EEE status: deposits qualify for 80C deduction up to βΉ1.5 lakh a year, the interest is tax-free, and the maturity amount is tax-free. Very few instruments in India offer this triple exemption with a government guarantee behind it.
Can I open SSY for my son?
No. SSY is exclusively for a girl child below age 10 at opening. For sons, the closest equivalents are PPF (7.1 percent, 15-year term, EEE) or a mutual fund SIP for long horizons. One account per girl child, maximum two accounts per family.
What happens if I miss an SSY deposit?
The account becomes dormant and can be revived within 15 years by paying a βΉ50 penalty per default year plus the missed deposits. Interest keeps accruing at the savings-account rate on dormant accounts, which is far lower, so revival is worth doing quickly.
Can I withdraw from SSY before maturity?
Partial withdrawal up to 50 percent of the balance is allowed after the girl turns 18, for higher education or marriage expenses. Full premature closure is permitted only in specific cases like medical emergencies, with interest then paid at post office savings rates.
When does SSY mature?
21 years from the date of opening, or at the girl's marriage after age 18, whichever is earlier. If you open it when she is 2, it matures when she is 23. There is no extension option; the balance must be withdrawn at maturity.
Is SSY better than PPF?
On rate alone, yes: 8.2 percent vs 7.1 percent, both EEE and government-backed. But PPF allows partial withdrawals from year 7 and loans from year 3, while SSY locks in for 21 years. For a daughter's long-term goal, SSY wins; for flexible family savings, PPF wins.
Can NRIs open an SSY account?
No. Only resident Indian parents or guardians of an eligible girl child can open SSY. If the account holder becomes an NRI later, the account must be closed, with interest paid up to the closure date. The rules here are stricter than PPF, which NRIs can continue in some cases.