SSY Calculator

How the SSY Calculator works

Sukanya Samriddhi Yojana (SSY) is a government-backed small-savings scheme for a girl child, opened by a parent or guardian before the girl turns 10. You deposit for the first 15 years, but the account keeps earning compound interest until it matures 21 years from opening (or on the girl’s marriage after she turns 18). The current interest rate is 8.2% p.a., set by the government each quarter and compounded annually.

How the maturity is built

• Deposits are made each year for the first 15 years (minimum ₹250, maximum ₹1,50,000 per year)
• Interest is compounded annually on the running balance
• No fresh deposits in years 16–21, but the balance keeps earning interest until maturity at year 21

Worked example

Depositing ₹50,000 every year at 8.2% means you contribute ₹7,50,000 over 15 years. With interest compounding right up to year 21, the account matures at about ₹23,94,040 — roughly ₹16,44,040 of interest. At the ₹1.5 lakh yearly maximum, the maturity is around ₹71.8 lakh. The chart shows deposits building up for 15 years and then the balance continuing to grow on interest alone for the last 6 years.

Tax benefits

SSY has EEE (Exempt-Exempt-Exempt) status: the yearly deposit qualifies for a deduction of up to ₹1.5 lakh under Section 80C, the interest earned is tax-free, and the maturity amount is tax-free too.

Things to keep in mind

• The rate is reset every quarter, so the return over the full 21 years may differ from the single rate assumed here.
• Actual SSY interest is credited on the lowest balance in the account between the 5th and the end of each month, so real maturity can vary slightly from any calculator. Different calculators also assume deposits at the start or end of the year, which is why figures differ by a few percent across websites — this tool assumes annual compounding on start-of-year deposits.
• A partial withdrawal (up to 50% of the balance) is allowed for higher education after the girl turns 18.