What is a SSY Calculator?
Sukanya Samriddhi Yojana is a government scheme for the education and marriage expenses of a girl child, opened any time before she turns 10. Deposits can be made for the first 15 years from account opening; after that, the balance continues earning interest with no further deposits required, until the account matures 21 years after opening (or on the girl’s marriage after age 18, if earlier).
It carries one of the highest interest rates among small savings schemes, compounded annually, and the deposit, interest and maturity amount are all tax-exempt (EEE status) up to the permitted yearly limit.
How the maturity value is calculated
Because deposits stop at year 15 but interest keeps compounding to year 21, a large share of the final maturity value in the later years comes purely from interest on interest, not fresh deposits.
Worked example: the six years without deposits
Deposit ₹50,000 a year for the full 15 years at the current 8.2% rate, and the balance reaches roughly ₹14,91,996 right after the last deposit in year 15. No further deposits are made after that, but the account keeps earning interest for another 6 years until the 21-year maturity — during which the balance grows to roughly ₹23,94,040. That means about ₹9,02,043, more than a third of the final maturity value, comes purely from those six deposit-free years of compounding on an already-large balance.
This is a distinctive feature of SSY: the maturity date is fixed at 21 years from opening regardless of when deposits stop, so an account opened when a daughter is very young effectively gets a longer "no more deposits needed, still compounding" tail than one opened closer to her 10th birthday, the latest permitted age to open an account.
Deposit early in the financial year, if you can
Like PPF, SSY interest is calculated monthly on the lowest balance in the account for that month. Depositing the full year’s amount early in the financial year (rather than in smaller instalments through the year, or as a lump sum near the deadline) maximises how many months that deposit earns interest for — a habit that compounds meaningfully across a 21-year account life.
Frequently asked questions
What is the current SSY interest rate?
The rate is notified at 8.2% per annum for Q2 FY 2026-27 (July–September 2026), among the highest of the government small savings schemes, compounded annually.
What is the maximum yearly deposit?
₹1,50,000 per financial year, which is also the ceiling for the Section 80C deduction — the same combined 80C limit shared with PPF, EPF and other eligible instruments.
What if I stop depositing before 15 years?
The account can be regularised by paying a small penalty along with the minimum deposit due for each missed year; if left irregular, it still earns interest but may not get the full benefit of the scheme.
Can the account be closed before 21 years?
Yes, in specific circumstances: on the girl’s marriage after she turns 18 (with proof), or in exceptional cases like a medical emergency or the death of the guardian, subject to conditions set by the scheme rules.
Can I open an SSY account for more than one daughter?
Up to two accounts are permitted per family, one per girl child, with an exception allowing a third in the case of twins or triplets on a second birth.
Who can operate the account before the girl turns 18?
A parent or legal guardian operates the account on her behalf until she turns 18, at which point she can take over operation of the account herself with proof of identity.
Is the maturity amount taxable?
No — like PPF, SSY is a fully EEE (exempt-exempt-exempt) instrument: the deposit, the interest, and the final maturity amount are all tax-free.