What is an SSY Calculator?
Sukanya Samriddhi Yojana (SSY) is a government savings scheme for a girl child. Parents can open an account before the girl turns 10 and deposit for 15 years; the account matures 21 years after it is opened.
This calculator estimates the maturity value from your yearly deposit at the current interest rate.
How it helps you
- Estimate the maturity amount for your daughter's education or marriage.
- See how much of the value comes from interest.
- Know her age when deposits end and when the account matures.
How it is calculated
Balanceₜ = (Balanceₜ₋₁ + D) × (1 + r) for years 1–15; Balanceₜ = Balanceₜ₋₁ × (1 + r) for years 16–21
- D
- Yearly deposit (₹250 to ₹1,50,000 per financial year)
- r
- Yearly interest rate ÷ 100, compounded yearly
- t
- Year since opening the account
You deposit ₹1,50,000 at the start of every year for 15 years at 8.2%.
- 1Total deposits = ₹1,50,000 × 15 = ₹22,50,000
- 2Interest compounds yearly; no deposits in years 16–21, but interest continues
Estimated maturity value after 21 years ≈ ₹71,82,119.
How to use the SSY Calculator
- 1Enter your daughter's current age.
- 2Enter the yearly deposit.
- 3Check the interest rate (the government revises it every quarter).
- 4Read total deposits, interest earned and maturity value.
Frequently asked questions
Who can open an SSY account?
A parent or legal guardian can open an account for a girl child below 10 years of age, at a post office or authorised bank. Usually up to two accounts are allowed per family, with exceptions for twins or triplets.
What is the minimum and maximum deposit?
At least ₹250 and up to ₹1,50,000 in a financial year.
Can money be withdrawn before maturity?
Partial withdrawal for higher education is allowed after the girl turns 18, subject to limits. Premature closure is allowed in specific cases.
Is the interest rate fixed for the full term?
No. The government notifies the rate every quarter, so the final amount depends on future rates.
Is SSY tax-free?
SSY has generally been treated as exempt at deposit, interest and maturity under the old tax regime. Check the current rules for your regime.