Sukanya Samriddhi Yojana (SSY) Calculator

Sukanya Samriddhi Yojana (SSY) maturity uses annual compounding at the prevailing rate (currently 8.2% for Q4 FY24). Open before the girl child turns 10. Deposits allowed for 15 years; account matures at her age 21. Example: ₹1.5 lakh annual deposit for 15 years at 8.2% gives roughly ₹46.5 lakh at maturity (after the lock-in period). The interest keeps accruing for the full 21 years even after deposits stop. The interest is fully tax-free, and contributions qualify under Section 80C. The calculator handles year-wise deposits and maturity projections.

Minimum deposit per financial year is ₹250. Maximum is ₹1.5 lakh per financial year. Deposits can be made in any number of instalments. Going below ₹250 makes the account inactive — pay ₹50 penalty plus minimum to revive. Maximum deposit period is 15 years from opening. The ₹1.5 lakh cap aligns with the 80C limit, so SSY contributions count towards your total 80C deduction (shared with PPF, EPF, ELSS, etc.). For optimal tax benefit, deposit before 5th of April each year. The calculator validates these limits and shows tax savings.

SSY allows partial withdrawal after the girl turns 18 — up to 50% of the previous year's balance, only for higher education or marriage. Full closure is allowed at age 21 (account maturity), or earlier in case of girl's marriage after age 18. Premature closure for medical emergencies or other compelling reasons requires special approval. Withdrawals are fully tax-free under EEE status. Don't withdraw casually — SSY's compounding works best when left undisturbed. The 21-year horizon makes it one of the best long-term debt instruments for daughters' future. The calculator shows withdrawal scenarios.

For a child born today, SSY is excellent for college education (around age 18-21). At ₹1.5 lakh annual contribution for 15 years at 8.2%, you accumulate roughly ₹46.5 lakh by maturity. After her 18th birthday, you can withdraw up to 50% for higher education — typically ₹15-20 lakh, which covers most professional college fees. The remaining 50% supports postgrad or marriage. Open SSY immediately after birth to maximise compounding period. Combine with equity mutual funds for higher returns; SSY provides the safe debt anchor. The calculator helps plan the contribution schedule.

Yes, SSY enjoys EEE (exempt-exempt-exempt) status. Contributions up to ₹1.5 lakh annually qualify for deduction under Section 80C. Interest earned is fully tax-free during the accumulation period. Maturity proceeds are also fully tax-free. Even partial withdrawals at age 18 are tax-free. This makes SSY one of the most tax-efficient debt instruments available, alongside PPF. The catch: it's exclusively for a girl child below 10 years at account opening, with strict withdrawal rules. For families with daughters, SSY is a no-brainer up to the deduction limit.

No, deposits to SSY are allowed only for 15 years from account opening. After 15 years (or once the girl turns 18, whichever applies for partial withdrawal), no fresh deposits are accepted. The account continues earning interest until maturity at age 21. So if you opened SSY when she was 5, deposits stop at age 20, and interest keeps accruing for one more year till age 21 maturity. After age 21, the account closes automatically. To continue investing for her, shift to PPF or mutual funds. The calculator shows the deposit and accumulation timelines clearly.

Both are EEE, both are debt instruments, but SSY currently offers a higher rate (8.2% vs PPF's 7.1%). SSY tenure is fixed (matures at girl's age 21). PPF has 15-year tenure with extension options. SSY is exclusive to a girl child (below 10 at opening). PPF is open to anyone. SSY contribution limit is ₹1.5 lakh annually; PPF is also ₹1.5 lakh — but they're separate (you can do both!). For a family with a daughter, do both — they share the ₹1.5 lakh 80C cap, so contributions need balancing. The calculator compares both yields.