SSY Calculator
Plan Sukanya Samriddhi Yojana (SSY) with 15 years of yearly deposits, then interest until 21 years from opening. Below the calculator you’ll find the exact formula this tool uses and worked examples you can verify on the sliders.
About SSY Calculator
The Sukanya Samriddhi Yojana (SSY) Calculator is a specialized financial planning tool designed to help parents of girl children understand and plan for their daughter's future financial security. Launched as part of the "Beti Bachao, Beti Padhao" campaign by the Government of India, this scheme offers one of the highest interest rates among all government-backed small savings schemes.
Contributions for the first 15 years, then interest only until 21 years from the start period (maturity calendar year = start year + 21). The girl’s age field is for context only; it does not change the maturity amount in this model. The interest rate shown in results is the current notified rate used for projection (8.2% p.a.).
Formula used in this calculator
This page uses annual compounding in 21 successive “account years” from the year you set as Start period:
Symbols: P = yearly deposit (₹); i = notified annual rate in % (here 8.2%); By = balance at the end of account year y (after interest for that year). Start with B0 = 0.
Effective yearly rate r: the tool sets r = (i / 100) × k, where k is a fixed constant so projected totals match common SSY calculators (e.g. Groww) for the same headline rate i. Pure i% on the same cashflows would give a slightly higher number.
Years 1 to 15 (deposit each year, then interest for the full year — same timing as an annuity due with yearly rests):
By = (By-1 + P) × (1 + r) for y = 1, …, 15
Years 16 to 21 (no new deposit; balance compounds only):
By = By-1 × (1 + r) for y = 16, …, 21
Outputs:
- Total investment =
15 × P - Maturity value =
round(B21)(rounded to the nearest rupee) - Total interest = maturity value − total investment
- Maturity year = start year + 21
How SSY Works
Eligibility & account opening:
- Account can be opened for a girl child from birth until she attains 10 years of age
- Maximum two SSY accounts per family (three for twins/triplets)
- Can be opened at any post office or authorized bank branches
- Only parent or legal guardian can operate until the girl turns 18
Deposit requirements: Min ₹250, max ₹1,50,000 per year. Deposits allowed for 15 years; after that, interest continues until maturity.
Interest: Calculated on lowest balance between 5th and month-end; compounded annually. Current rate: 8.2% p.a. (Q4 FY 2024-25).
Maturity: Legally, closure is tied to the girl child turning 21 (and other rules). This tool’s maturity year follows the common 21-year-from-opening schedule used by major calculators. Partial withdrawal (50%) is allowed after 18 for education/marriage.
Benefits & features
- Highest interest among government small savings (8.2% p.a.)
- 100% government-backed, zero risk
- Section 80C deduction up to ₹1.5L; interest & maturity tax-free (EEE status)
- Power of compounding over 21 years
- Transferable across India
Who should use
Parents of girl children (0–10 years), expecting parents, grandparents, and guardians planning for a daughter's education, marriage, or financial independence with tax-efficient, government-backed returns.
Important considerations
Worked examples (same math as above)
Example A — match the default sliders: P = ₹10,000/year, girl’s age 5 (display only), start year 2021, rate 8.2% p.a.
- Total investment = 15 × ₹10,000 = ₹1,50,000
- Total interest (after rounding) = ₹3,11,839
- Maturity value = ₹4,61,839
- Maturity year = 2021 + 21 = 2042
Example B — higher yearly deposit: P = ₹1,00,000/year for 15 years, same 8.2% model.
- Total investment = ₹15,00,000
- Total interest ≈ ₹31,18,390
- Maturity value ≈ ₹46,18,390
Set the yearly investment slider to ₹10,000 or ₹1,00,000 and compare; the summary and chart use the same recurrence.
FAQs
Can I open SSY if my daughter is already 10?
No. Accounts can only be opened before the girl turns 10.
What if I miss a year's deposit?
Account becomes irregular. Pay ₹50 penalty per default year plus minimum deposits to reactivate.
When can I withdraw?
Partial (50%) after 18 for education/marriage. Full withdrawal at 21 or marriage after 18.
Is SSY better than PPF for my daughter?
Often yes for this use case: higher notified rate (e.g. 8.2% vs 7.1%), same tax benefits, and purpose-built for the girl child's future.