What is Sukanya Samriddhi Yojana?
Sukanya Samriddhi Yojana (SSY) is a government savings scheme in India designed to help parents secure the financial future of their girl children. Launched in 2015 as part of the "Beti Bachao, Beti Padhao" campaign, SSY encourages parents to invest in their daughters' education and marriage expenses. It's a safe, government-backed, and tax-efficient investment option that guarantees attractive returns with compound interest.
SSY Formula and Calculation: How It Works
Understanding the Sukanya Samriddhi Yojana calculation formula helps you estimate your returns accurately:
- Investment Phase: Parents must invest annually for 14 years (from age 0-10 to age 13-23)
- Accumulation Phase: After 14 years of investment, the amount continues to grow at the SSY interest rate until age 21
- Maturity: The account matures at age 21, when the entire amount can be withdrawn
- Interest Calculation: Interest is compounded annually on the SSY interest rate (8.2% as of 2026)
- Withdrawal Flexibility: Partial withdrawal is allowed from age 18 onwards for education expenses
The SSY maturity formula is: Maturity Amount = P(1+r)^n, where P is annual investment, r is interest rate, and n is years until age 21.
How to Use the SSY Calculator
Our Sukanya Samriddhi Yojana calculator is simple and requires just 3 inputs:
- Yearly Investment: Enter the amount you plan to invest annually in rupees (minimum ₹250, maximum ₹1.5 lakh per financial year)
- Girl Child's Current Age: Enter the girl child's present age in years (0-10 years)
- Expected Interest Rate: Current SSY interest rate is 8.2% (2026), but you can adjust based on your expectations
The calculator instantly shows your total investment, interest earned, and maturity amount at age 21, along with a year-wise breakdown table and visual growth chart.
SSY Calculator Examples
Example 1: ₹12,000 Annual Investment (₹1,000/month)
Assumptions: Monthly investment ₹1,000 (₹12,000/year), girl child age 2, interest 8.2%
- Investment years: 14 years (age 2 to age 16)
- Growth years: 5 years (age 16 to age 21)
- Total invested: ₹1,68,000
- Interest earned: ₹98,755
- Maturity amount at age 21: ₹2,66,755
Example 2: ₹60,000 Annual Investment (₹5,000/month)
Assumptions: Monthly investment ₹5,000 (₹60,000/year), girl child age 4, interest 8.2%
- Investment years: 14 years (age 4 to age 18)
- Growth years: 3 years (age 18 to age 21)
- Total invested: ₹8,40,000
- Interest earned: ₹3,14,225
- Maturity amount at age 21: ₹11,54,225
Example 3: ₹1,50,000 Annual Investment (₹12,500/month, Max Limit)
Assumptions: Monthly investment ₹12,500 (₹1,50,000/year), girl child age 0, interest 8.2%
- Investment years: 14 years (age 0 to age 14)
- Growth years: 7 years (age 14 to age 21)
- Total invested: ₹21,00,000
- Interest earned: ₹13,60,847
- Maturity amount at age 21: ₹34,60,847
SSY Interest Rate History and Current Rates
The Sukanya Samriddhi Yojana interest rate is revised quarterly by the government. Here's the historical trend and current rates:
| Financial Year | Interest Rate (%) | Period | Notes |
|---|---|---|---|
| 2015-16 | 9.20% | April 2015 - March 2016 | Scheme launch |
| 2016-17 | 8.60% | April 2016 - March 2017 | Revised quarterly |
| 2017-18 | 8.30% | April 2017 - March 2018 | Revised quarterly |
| 2018-19 | 8.10% | April 2018 - March 2019 | Revised quarterly |
| 2019-20 | 8.40% | April 2019 - March 2020 | Revised quarterly |
| 2020-21 | 7.60% | April 2020 - March 2021 | Revised quarterly |
| 2021-22 | 7.60% | April 2021 - March 2022 | Consistent rate |
| 2022-23 | 7.60% | April 2022 - March 2023 | Maintained |
| 2023-24 | 8.00% | April 2023 - March 2024 | Improved |
| 2024-25 | 8.20% | April 2024 - March 2025 | Best in recent years |
| 2025-26 | 8.20% | April 2025 - March 2026 | Maintained at best rates |
SSY Rules: Age Limits, Lock-in, and Withdrawal
Sukanya Samriddhi Yojana Age Rules
- Opening Age: Account can be opened from birth (age 0) up to 10 years
- Investment Age: You must continue investing until age 14 (when girl child is 14 years old)
- Maturity Age: Account matures at age 21 when the full balance can be withdrawn
- Guardianship: Until age 18, only the parent/guardian can operate the account
- Self-operation: After age 18, the girl child can operate the account herself
SSY Lock-in and Withdrawal Rules
- Lock-in Period: Full 14-year investment lock-in is mandatory; no withdrawal allowed during this period
- Partial Withdrawal from Age 18: After age 18, you can withdraw up to 50% of the previous year's balance for education or marriage expenses
- Full Withdrawal at Age 21: Entire account balance can be withdrawn when the girl child reaches 21 years
- Overdraft Facility: If investment is missed in any year, the account becomes inactive but can be revived by depositing the outstanding amount
- Transfer Facility: SSY account can be transferred if the family moves to another location (within India)
SSY Partial Withdrawal (Age 18 onwards)
From age 18, a girl child can withdraw funds for specific purposes:
- Education Expenses: Fees for college, professional courses, or higher education
- Marriage Expenses: Wedding preparation costs after age 18
- Withdrawal Limit: Maximum 50% of the balance of the previous financial year or ₹50,000, whichever is less
- Multiple Withdrawals: You can make multiple withdrawals from age 18 to age 21, but total cannot exceed the withdrawal limit
SSY vs PPF vs FD: Comparison for Girl Child Savings
| Feature | SSY | PPF | Fixed Deposit (FD) |
|---|---|---|---|
| Eligibility | Girl child (0-10 years) | Any individual | Any individual |
| Interest rate (2026) | 8.2% | 7.1% | 6-7.5% |
| Annual investment limit | ₹1.5 lakh max | ₹1.5 lakh max | No limit |
| Lock-in period | 14 years (investment) | 15 years | 3-5 years typical |
| Maturity period | At age 21 | 15 years | As chosen |
| Partial withdrawal | From age 18 (50%) | From 7th year (50%) | Allowed (may lose interest) |
| Tax status | EEE (best) | EEE (best) | EET (interest taxable) |
| Section 80C benefit | Yes (₹1.5 lakh) | Yes (₹1.5 lakh) | No |
| Government backing | Yes, guaranteed | Yes, guaranteed | Yes (bank dependent) |
| Best for | Girl child education/marriage | Long-term savings | Short-term goals |
SSY Tax Benefits: Section 80C and EEE Status
Sukanya Samriddhi Yojana offers exceptional tax benefits that make it one of the most attractive investment options for girl children:
- Section 80C Deduction: Contributions up to ₹1.5 lakh per financial year are eligible for tax deduction under Section 80C of the Income Tax Act
- Interest is Tax-free: All interest earned on SSY is completely tax-free and doesn't add to your taxable income
- Maturity is Tax-free: The entire maturity amount withdrawn at age 21 is tax-free
- EEE Status: SSY has Exempt-Exempt-Exempt status (E-E-E), the best possible tax treatment
- No TDS: No Tax Deducted at Source (TDS) on SSY interest or maturity
- Tax Savings Example: For a 30% tax bracket person investing ₹1.5 lakh annually, the tax saving is ₹45,000/year
Frequently Asked Questions about Sukanya Samriddhi Yojana
Can I open multiple SSY accounts for my daughters?
Yes, you can open separate SSY accounts for each daughter. Each account is independent with its own investment and maturity schedule. You can invest up to ₹1.5 lakh per year in each daughter's account (total ₹3 lakh for two daughters, ₹4.5 lakh for three daughters).
What happens if I miss an SSY investment?
If you miss an annual investment, the account becomes inactive. However, you can revive it by paying the outstanding amount within a specified period. The account remains valid but earns no interest until revived. It's important to maintain regular investments to avoid complications.
Is SSY account transferable between banks?
Yes, you can transfer your SSY account from one bank to another. However, the scheme itself is only operated by Post Offices and a limited number of banks. If transferring to a different bank, you need to submit an application with proper documentation.
Can I withdraw SSY for my daughter's marriage before age 21?
Yes, you can withdraw SSY from age 18 onwards for marriage expenses. The withdrawal limit is 50% of the previous year balance or ₹50,000, whichever is less. Full balance withdrawal happens at age 21 when the account matures.
Who operates the SSY account until age 18?
Until age 18, the parent or legal guardian operates the SSY account. They make investments, apply for withdrawals, and manage all account operations. After age 18, the girl child can operate the account independently or jointly with the parent.
What is the minimum and maximum investment in SSY?
Minimum investment in SSY is ₹250 per year (can be in multiple deposits). Maximum investment limit is ₹1.5 lakh per financial year. You must invest for 14 years, after which the account grows without further investments until age 21.
Is SSY interest compounded annually or quarterly?
SSY interest is compounded annually, not quarterly. The interest rate is revised quarterly by the government, but the compounding happens annually on April 1st. This means you earn interest on your interest every year at the prevailing rate.
Can NRIs (Non-Resident Indians) open SSY accounts?
Yes, NRIs can open Sukanya Samriddhi Yojana accounts for their daughter in India. The daughter must be a minor (under 10 years) at the time of account opening. However, some restrictions apply regarding account operation and investment.