About the Sukanya Samriddhi Yojana (SSY) Calculator

Sukanya Samriddhi Yojana (SSY) is a small savings scheme by the Government of India, launched as part of the "Beti Bachao, Beti Padhao" campaign. It is designed exclusively for the financial empowerment of a girl child. The scheme offers a high interest rate and significant tax benefits, making it a highly attractive long-term investment. This calculator helps you estimate the total maturity amount you will receive after the completion of the 21-year tenure.

How is the SSY Maturity Value Calculated?

The SSY scheme has a unique structure. You deposit money for the first **15 years**, but the account continues to earn interest for a full **21 years**. The interest is compounded annually. Our calculator simulates this year-by-year process to arrive at an accurate maturity value.

The calculation can be summarized as:

• Years 1-15: Opening Balance + Annual Investment + Interest on the new balance.
• Years 16-21: Opening Balance + Interest on the existing balance (no new investment).

This long period of compounding, even after contributions have stopped, significantly boosts the final corpus.

Frequently Asked Questions (FAQ)

Who is eligible to open an SSY account?

A parent or legal guardian can open an SSY account in the name of a girl child who is **10 years of age or younger**. Only one account is allowed per girl child, and a family can open a maximum of two accounts for two different girl children (exception for twins/triplets).

What are the deposit limits?

The minimum annual deposit for an SSY account is **₹250**, and the maximum is **₹1,50,000** in a financial year. Deposits can be made in a lump sum or in multiple installments.

What are the tax benefits of SSY?

SSY enjoys the prestigious **Exempt-Exempt-Exempt (EEE)** status, making it highly tax-efficient:

• Contribution (Exempt): Deposits up to ₹1.5 lakh per year are eligible for tax deduction under Section 80C of the Income Tax Act.
• Interest (Exempt): The interest that accrues annually is completely tax-free.
• Maturity (Exempt): The final maturity amount is also fully exempt from income tax.

When does the SSY account mature?

The account matures after **21 years** from the date of its opening. The entire balance, including the accumulated interest, is paid to the girl child upon maturity.

Can we withdraw money before 21 years?

Yes, partial withdrawal is allowed for specific purposes. Up to **50%** of the balance available at the end of the preceding financial year can be withdrawn for the purpose of the girl child's higher education. This withdrawal is only permissible after she attains the age of 18 or has passed the 10th standard, whichever is earlier.