Girl Child Savings

Contents

1 SSY Calculator — Sukanya Samriddhi Yojana Maturity

SSY Calculator — Sukanya Samriddhi Yojana Maturity

Calculate Sukanya Samriddhi Yojana maturity for your daughter. Highest govt-backed rate at 8.2% p.a.

8.2% p.a.EEE Tax FreeSection 80C

Visual Breakdown

SSY Maturity

Invested

Interest

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

Strategy for Daughters: Open SSY at birth + run a parallel equity SIP. SSY provides guaranteed tax-free corpus by age 21 (for education/marriage). Equity SIP for higher growth (university abroad, business start-up).

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.

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