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SSY Calculator — Sukanya Samriddhi Yojana Maturity
Calculate Sukanya Samriddhi Yojana maturity for your daughter. Highest govt-backed rate at 8.2% p.a.
Sukanya Samriddhi Yojana — Why It's Special
SSY is exclusively for girl children (under 10 years at opening). Highest tax-free interest rate among Indian small-saving schemes. Sovereign-backed. Section 80C deduction + EEE tax treatment makes it unbeatable for daughters' future planning.
| Feature | Detail (FY 2025-26) |
|---|---|
| Eligibility | Girl child below 10 years (Indian resident) |
| Interest Rate | 8.2% per annum (Q3 FY25) |
| Account Tenure | 21 years from opening |
| Deposit Period | 15 years (then balance earns interest for next 6 years) |
| Annual Min/Max | ₹250 / ₹1.5 lakh |
| Section 80C | Up to ₹1.5L deductible (Old Regime) |
| Maturity Tax | Fully tax-free (EEE status) |
| Maximum Accounts | Per family: 2 (one per girl). Twins allowed as 3rd account. |
| Premature Closure | After 5 years for life-threatening illness, marriage, or marriage of girl after 18 |
| Where to Open | Post Office, SBI, BoB, PNB, Canara Bank, Union Bank, IDBI, ICICI, Axis, HDFC, etc. |
SSY vs Other Child Savings Schemes
| Scheme | Interest | Tax | Suitability |
|---|---|---|---|
| Sukanya Samriddhi Yojana | 8.2% | EEE | Best for daughters under 10 |
| PPF | 7.1% | EEE | For any child (gender-neutral) |
| Equity Mutual Fund SIP | 10-12% expected | LTCG 12.5% | Long horizon (15+ yr) any gender |
| Education Insurance Plans | 4-6% return | Lock-in heavy | Generally poor; consider term + MF instead |
| NSC (in minor's name) | 7.7% | Slab on interest | 5-year fixed; complicated |
| Fixed Deposit (Minor) | 6-7% | Slab | Short-term; flexible |
SSY Worked Examples
Example 1: ₹50,000/year for 15 Years at 8.2%
Total invested = ₹7.5 lakh (over 15 years). Account closes after 21 years from opening. Final maturity (with 6-year compounding tail): approximately ₹25-26 lakh tax-free.
Example 2: ₹1,50,000/year (Maximum) for 15 Years
Total invested = ₹22.5 lakh. Final maturity at age 21: approximately ₹74-77 lakh tax-free. Perfect for daughter's higher education or marriage corpus.
Example 3: Late Start (Daughter age 9, 1-year window)
Can open account before her 10th birthday. Deposit period: 15 years from opening (account remains active until her 30th birthday). Even shorter contribution windows still produce meaningful tax-free corpus.
SSY Withdrawal Rules
- Age 18 — Partial Withdrawal: Up to 50% of preceding year's balance for higher education (must furnish admission proof, fee structure).
- Age 18 — Premature Closure: For girl's marriage. Account closes; full balance paid out.
- Age 21 — Maturity: Full balance paid; account closed automatically.
- Other Premature Closure (after 5 years): For life-threatening illness of account holder or guardian's death.
More FAQs
Can I open SSY for adopted daughter?
Yes — produce legal adoption papers. The girl must still be below 10 years at opening. Adopted daughter has equal rights as biological.
What if I miss a year's deposit?
Account becomes "irregular". Revive by depositing minimum ₹250 + ₹50 penalty per defaulted year. Don't let it lapse too long; reactivation has limits.
Can NRI parents open SSY for Indian-born daughter?
Yes if daughter is Indian resident. If daughter becomes NRI after account opening, no new deposits; balance earns interest till maturity.
How is SSY interest calculated?
Annual compounding. Like PPF, interest depends on minimum balance between 5th and end of month. Best practice: deposit annually in April for maximum interest.
Can I have BOTH SSY and PPF for same daughter?
Yes — but the ₹1.5L combined annual 80C limit applies across all your investments (SSY + PPF + ELSS + LIC etc). Allocate based on goals.
Is SSY available in New Tax Regime?
You can invest, earn tax-free interest, and receive tax-free maturity. BUT the ₹1.5L Section 80C deduction is NOT available in New Regime. SSY's value drops significantly for new-regime taxpayers.
What documents needed to open SSY?
Birth certificate of daughter (proof of age below 10), PAN/Aadhaar of guardian, photo, address proof, KYC. Pre-printed SSY-1 form from bank/post office.
Can I close SSY voluntarily before maturity?
No — only for the four specified reasons (girl's marriage 18+, daughter/guardian's death, life-threatening illness, change in resident status to NRI). Otherwise, account stays till 21 years.