Sukanya Samriddhi Yojana (SSY) Calculator
Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme for a girl child below age 10, opened by a parent or guardian. Deposits are made for 15 years from account opening, after which the account continues earning interest (with no further deposits required) until it matures 21 years after opening. This calculator projects the maturity value at the scheme's current interest rate.
- Deposits of ₹1,50,000/year for 15 years, compounded annually at 8.200000000000001% for 21 years from account opening.
Read the guide: Section 80C Explained: What You Can Claim Up to ₹1.5 Lakh
How to use the sukanya samriddhi yojana (ssy) calculator
- Enter the amount you plan to deposit each year — anywhere from ₹250 up to the current annual cap of ₹1,50,000.
- The calculator assumes the same yearly deposit for all 15 contribution years, at the current interest rate, compounded annually.
- Read the projected maturity value at year 21, along with total deposited and total interest earned.
Formula
Each year's deposit is added to the balance, and the running balance is compounded annually at the current SSY rate (8.2% at time of writing) for all 21 years from account opening — deposits stop after year 15, but compounding continues on the accumulated balance through year 21.
Worked examples
Maximum yearly deposit
Depositing the full ₹1,50,000 every year for 15 years, at 8.2%, grows to roughly ₹71.8 lakh by maturity (year 21) — on a total deposit of ₹22.5 lakh, meaning roughly ₹49.3 lakh is interest, thanks to 21 years of compounding.
A smaller, steady deposit
Depositing ₹50,000 a year for 15 years at 8.2% grows to roughly ₹23.9 lakh by maturity — a more accessible commitment that still benefits from more than two decades of compounding.
SSY vs PPF vs mutual funds for a girl child's future
SSY is often compared with the Public Provident Fund (PPF) and equity mutual funds as ways to save for a child's future. SSY is restricted to a girl child below 10 and matures at 21 years, with a government-guaranteed rate revised quarterly (currently 8.2%) and full EEE tax-free status — broadly similar tax treatment to PPF, but historically SSY's rate has been set slightly higher than PPF's as a policy incentive. PPF has no gender restriction and a shorter 15-year tenure (extendable), making it more flexible for other goals. Equity mutual funds (via SIP) carry market risk and no guaranteed rate, but have historically delivered higher long-term returns than either fixed-rate government scheme over long horizons (10+ years) — at the cost of year-to-year volatility that SSY and PPF don't have.
Many financial planners suggest a mix rather than an either/or choice: SSY or PPF for the guaranteed, tax-free portion of a child's corpus, alongside equity SIPs (see the SIP calculator) for a growth-oriented portion, balancing safety and return potential rather than relying on a single instrument.
Common mistakes to avoid
- Assuming the interest rate shown here is locked in for the full 21 years — SSY's rate is revised quarterly by the government along with other small savings schemes, so actual maturity value will differ if the rate changes over time; this projection uses the current rate held constant as an estimate.
- Missing a year's minimum deposit (₹250) — the account can be marked "inactive" if no deposit is made in a year and needs a small penalty payment to reactivate.
- Forgetting that up to 50% of the balance can be withdrawn once the girl turns 18 (for higher education), which would reduce the actual maturity value below this projection if withdrawn.
Frequently asked questions
What is the current SSY interest rate?
As of this tool's last review, SSY earns 8.2% per annum, compounded annually — unchanged since January 2024, though the government reviews all small-savings rates every quarter, so always check the current confirmed rate.
What are the deposit limits?
A minimum of ₹250 and a maximum of ₹1,50,000 can be deposited in an SSY account per financial year, for 15 years from the date the account was opened.
When does an SSY account mature?
21 years after the account was opened, even though deposits are only required for the first 15 years — the balance keeps earning interest for the remaining years automatically.
Is SSY interest taxable?
No. SSY has "EEE" (Exempt-Exempt-Exempt) tax status — the deposit qualifies for Section 80C deduction (Section 123 of the Income-tax Act, 2025, from tax year 2026-27, old regime only), the interest earned is tax-free, and the maturity amount is also tax-free.
Sources: PIB — Sukanya Samriddhi Yojana explainer · National Savings Institute — small savings schemes