Find out how much your daughter's SSY account will be worth at maturity — total deposits, interest earned, and the exact maturity date, calculated in seconds.
Sukanya Samriddhi Yojana is a post office savings scheme run by the Government of India to help families build a fund for their daughter's future. It carries a sovereign guarantee, so the principal and declared interest are backed by the government.
Sukanya Samriddhi Yojana is a government savings scheme aimed at two specific goals for the girl child: funding her higher education and funding her marriage. A parent or legal guardian can open a Sukanya Samriddhi Account for a girl child who is ten years old or younger, at any post office or authorised bank.
Once you decide to invest in SSY, this calculator works out the maturity value in advance, based on the amount you plan to deposit each year. Instead of doing the compounding math by hand, you get an instant estimate of what your daughter's account could be worth by the time it matures — useful for planning how much of her education or wedding costs the scheme will realistically cover.
The calculator estimates the maturity value and total interest based on the current SSY rules, using these assumptions:
Suppose you open an SSY account for your daughter and deposit Rs. 1,00,000 every year for 15 years, at the current 8.2% annual interest rate (compounded yearly, held for the full 21-year term).
These figures are indicative. Use the calculator above with your own dates and deposit amount for an exact estimate, since interest rates are revised every quarter and your actual return will reflect the rate applicable in each of those quarters.
SSY interest is not a single lump-sum compound-interest calculation — it's built up from a series of yearly deposits, each of which starts earning interest from the date it's made. In simplified form, the compounding logic for each year's contribution looks like this:
A = P (1 + r/n)^nt
Where:
The calculator above applies this logic separately to each year's deposit and adds the results together, so you don't need to run the calculation manually.
Both are government-backed, tax-saving instruments under Section 80C, but they serve different goals:
If you're saving specifically for a daughter's education or wedding, SSY's higher rate usually makes it the stronger choice between the two.
The account matures 21 years after it was opened, at which point the balance plus accrued interest is paid to the girl child. To withdraw the funds at maturity, you'll typically need:
The account can also be closed before the 21-year mark if the girl marries after turning 18. In that case, the closure request must be made no earlier than one month before the wedding and no later than three months after it.
A premature withdrawal is also allowed after the account has been open for 5 years if the parent or guardian passes away, since continuing the account could otherwise become a financial burden on the family.
A maximum of two accounts can generally be opened, one per girl child. An exception exists for twin or triplet girls born after an existing girl child, provided a valid medical certificate is submitted along with the application. Only a parent or legal guardian can open the account.
Yes. Many people who already hold a PPF account choose to also open an SSY account because of its higher interest rate, higher overall investment limit, and lower minimum yearly deposit — Rs. 250 for SSY compared with Rs. 500 for PPF.
Only one. A family can hold a maximum of two SSY accounts in total, for up to two daughters, with the twins/triplets exception noted above.
At any nearby post office or at an authorised bank branch.
It can't be closed arbitrarily, but premature closure is permitted once the girl turns 18 and is getting married, in the event of the account holder's death, or if funds are urgently needed to treat a life-threatening illness. Otherwise, the account runs its full 21-year term.
No. SSY does not offer a loan against the account balance.
If a family has two daughters with separate SSY accounts, both parents can nominate themselves against separate accounts and each claim a deduction of up to Rs. 1.5 lakh under Section 80C.
The account is closed and the accumulated balance, with interest, is paid out to the registered nominee.
Yes. Missing the minimum yearly deposit of Rs. 250 deactivates the account. It can be reactivated by paying the missed deposits plus a penalty of Rs. 50 for every year of default.
LegalDev's tax advisory team can help you compare SSY against other 80C options and build a plan suited to your goals.
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