Sukanya Samriddhi Yojana (SSY) Calculator
Enter your annual deposit and the girl child's current age to see the exact maturity amount, total interest earned, and a year-by-year schedule for your Sukanya Samriddhi Yojana account. The calculator uses the current government rate of 8.2% per annum, compounded annually, and follows the official rule that deposits run for 15 years while the account matures at 21 years from opening.
What is the Sukanya Samriddhi Yojana (SSY)?
Sukanya Samriddhi Yojana (Girl Child Prosperity Scheme) is a government-backed small-deposit savings scheme for girl children in India, launched in January 2015 under the Beti Bachao Beti Padhao campaign. The scheme allows parents or legal guardians to open a dedicated savings account at any post office or authorised bank branch in the name of a girl child aged 10 years or below. The account earns a government-guaranteed interest rate (currently 8.2% p.a., compounded annually), and all returns enjoy EEE (Exempt-Exempt-Exempt) tax status: contributions qualify for Section 80C deduction up to INR 1.5 lakh per year, accrued interest is fully tax-exempt, and the entire maturity corpus is paid out tax-free.
How the SSY calculation works
The account runs for 21 years from the date it is opened, but active deposits are required only for the first 15 years. Each year's deposit earns compound interest from the moment it is credited. Depositing before the 5th of April in a financial year ensures the full year's interest is earned on that deposit. For years 16 through 21, no fresh deposits are made, but the accumulated corpus continues compounding at the prevailing rate until the account matures. The final maturity amount is typically two to three times the total principal deposited, because the interest on interest over 21 years is substantial. For example, depositing INR 1.5 lakh every year for 15 years (total principal of INR 22.5 lakh) yields a maturity corpus of roughly INR 69 to 72 lakh at 8.2%, meaning the interest portion alone exceeds the principal.
Deposit rules and limits
The minimum annual deposit is INR 250 and the maximum is INR 1,50,000 per financial year. If the minimum is not deposited in any year, the account becomes dormant and can be revived by paying a INR 50 penalty per defaulted year along with the minimum deposit. Deposits can be made as a single lump sum or in multiple instalments throughout the year, in multiples of INR 50. Deposits are accepted for the first 15 financial years from the year of account opening. After 15 years, the account continues to earn interest on the accumulated balance until maturity at 21 years, even with no further deposits.
Withdrawal rules and premature closure
SSY is designed as a long-term savings vehicle, so premature withdrawal is restricted. A partial withdrawal of up to 50% of the account balance (as of the end of the preceding financial year) is allowed once the girl child turns 18 or passes the 10th standard, whichever is earlier, specifically to fund higher education. The withdrawal can be taken as a lump sum or in up to five annual instalments. The account can be closed prematurely and the full balance paid out if the girl child is 18 or older and is getting married, without attracting any penalty. In certain hardship cases such as life-threatening illness or the death of the account holder, the account can also be closed early with appropriate documentation.
SSY interest rate history
| Financial Year | Interest Rate (% p.a.) | Notes |
|---|---|---|
| 2014-15 | 9.1% | Scheme launch rate |
| 2015-16 | 9.2% | Peak rate |
| 2016-17 | 8.6% | Rate reduction |
| 2017-18 | 8.3% | Rate reduction |
| 2018-19 | 8.5% | Rate increase |
| 2019-20 | 8.4% | Rate reduction |
| 2020-21 | 7.6% | COVID-era reduction |
| 2021-22 | 7.6% | Held flat |
| 2022-23 | 7.6% | Held flat |
| 2023-24 | 8.0% | Rate increase |
| 2024-25 | 8.2% | Rate increase |
| 2025-26 | 8.2% | Current rate |
Government-declared SSY interest rates by financial year. The rate is reviewed quarterly and can change.
Frequently asked questions
Who can open an SSY account?
A natural or legal guardian can open one SSY account per girl child for a girl aged 10 years or below. A family can have a maximum of two SSY accounts - one per girl child - though a third account is allowed if twins or triplets are born in the second birth.
What is the current SSY interest rate?
The current SSY interest rate for FY 2025-26 is 8.2% per annum, compounded annually. The government reviews this rate quarterly. Historically the rate has ranged from 7.6% (during 2020-22) to 9.2% (2015-16).
Is SSY better than a Public Provident Fund (PPF)?
Both are EEE-category government schemes, but SSY currently offers a higher interest rate (8.2%) versus PPF (7.1% as of 2025-26). SSY has a shorter maturity of 21 years versus PPF's 15-year block with unlimited extensions. However, SSY is restricted to girl children while PPF is open to all. The choice depends on your specific savings goal.
Can I deposit money in SSY every month instead of annually?
Yes. Deposits can be made in any number of instalments during a financial year, as long as the total stays between the annual minimum (INR 250) and maximum (INR 1,50,000). However, to earn the full year's interest on each deposit, it is best to deposit before the 5th of April at the start of each financial year.
What happens if I miss an SSY deposit for a year?
If no deposit is made in a financial year, the account becomes dormant. It can be reactivated by paying a penalty of INR 50 per defaulted year along with the minimum deposit of INR 250 for each missed year. The accumulated interest on existing deposits continues even while the account is dormant.
Is the SSY maturity amount really tax-free?
Yes. SSY has full EEE (Exempt-Exempt-Exempt) status under Indian tax law. The annual deposit qualifies for Section 80C deduction up to INR 1,50,000 (under the old tax regime), interest earned each year is entirely tax-free, and the maturity payout is also completely exempt from income tax. This makes SSY one of the most tax-efficient savings instruments in India.
Can I transfer my SSY account to another bank or post office?
Yes. An SSY account can be transferred from one authorised bank or post office to another anywhere in India, at no cost. This is particularly useful if you move cities. You will need to submit the transfer request with relevant identity and address proof at the new branch.