See how much your daughter's SSY account grows to — deposits for 15 years, interest for 21, at the current 8.2% rate (as of Q1 FY 2026-27 (verify quarterly notification)).
How Sukanya Samriddhi Yojana works
SSY is a government savings scheme for a girl child. You can open the account any time before she turns 10, at a post office or an authorised bank. You deposit for the first 15 years; the account then keeps earning interest until it matures 21 years after opening. The rate (8.2% as of Q1 FY 2026-27 (verify quarterly notification)) is set by the government every quarter and is the highest among the small-savings schemes.
Years 1–15: balance = (balance + deposit) × (1 + r)
Years 16–21: balance = balance × (1 + r)
Worked example: ₹1.5 lakh every year
Deposit ₹1,50,000 each year for 15 years. At 8.2%, the account grows to about ₹71,82,119 (₹71.82 lakh) at maturity. Your own deposits total ₹22,50,000 — the remaining ₹49,32,119 is interest, and none of it is taxed. Notice in the table how the balance almost doubles in the last six years even though you stop depositing — that is compounding doing the work.
Rules that matter
- Who: a girl child below 10 years at opening; one account per girl, maximum two girls per family (exceptions for twins/triplets).
- Deposits: ₹250 minimum to ₹1.5 lakh maximum per financial year, for 15 years from opening.
- Withdrawal at 18: once your daughter turns 18 (or passes class 10), up to 50% of the previous year-end balance can be withdrawn for her higher education.
- Marriage: the account can be closed at her marriage after she turns 18.
- Tax: EEE — 80C deduction on deposits (old regime), tax-free interest, tax-free maturity.
SSY vs PPF for a daughter's future
Both are EEE government schemes, but SSY pays more (8.2% vs 7.1% as of Q1 FY 2026-27 (verify quarterly notification)) precisely because it is locked to the girl child's milestones. The practical pairing many parents use: SSY for the daughter's education corpus, PPF for the family's own long-term savings — both filled before any taxable deposit.
Frequently Asked Questions
Should I open the SSY account at a post office or a bank?
It is the same government scheme with the same 8.2% rate everywhere — post office or any authorised bank. Pick whichever is convenient. Banks usually make online deposits easier; post offices are everywhere. You can also transfer the account later.
Is it better to deposit monthly or once a year?
Any pattern works as long as you deposit at least ₹250 and at most ₹1.5 lakh per financial year. Depositing early earns more: interest is calculated on the lowest balance between the 5th and the end of each month, so putting in the full amount before 5 April gives you the whole year's interest. This calculator assumes the yearly amount goes in at the start of each year.
How much will ₹1.5 lakh per year grow to in SSY?
At the current 8.2% rate, ₹1,50,000 deposited every year for 15 years grows to about ₹71,82,119 when the account matures at 21 years — you deposit ₹22,50,000 and earn about ₹49,32,119 as completely tax-free interest. The year-wise table above shows the growth.
When do I actually get the money?
The account matures 21 years after opening — not when your daughter turns 21. You stop depositing after year 15; the balance keeps earning interest for the remaining 6 years. After she turns 18 you can withdraw up to 50% for her higher education, and the account can be closed at her marriage after 18.
What if I deposit less, or miss a year?
The minimum is ₹250 per year. If you miss it, the account becomes "defaulted" — you can revive it by paying ₹50 penalty per missed year plus the minimum deposit. The money already inside keeps earning interest meanwhile.
Is SSY tax-free?
Fully. Deposits qualify for Section 80C (old tax regime, up to ₹1.5 lakh a year), the interest is exempt, and the maturity amount is exempt — EEE status, the same as PPF, but at a higher rate (8.2% vs 7.1% as of Q1 FY 2026-27 (verify quarterly notification)).
Is this calculator available in Hindi?
A full Hindi version of this page is on the way. Meanwhile the calculator itself uses plain language and Indian number formats (lakh/crore), so it should be easy to follow.
Estimates are for information and education only — not financial, tax or investment advice. Verify current rates and rules with official sources.