SSY Calculator
SUKANYA SAMRIDDHI YOJANA (For Girl Child Future)| Year | Inv. | Int. | Bal. |
|---|
What is Sukanya Samriddhi Yojana (SSY)?
Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme launched as part of the “Beti Bachao, Beti Padhao” campaign. It is designed to secure the future of the girl child.
It offers one of the highest interest rates among all small savings schemes and comes with EEE Tax Status (Exempt-Exempt-Exempt). This means the money you invest, the interest earned, and the maturity amount are all 100% tax-free.
How Does the Calculator Work? (The 15 vs 21 Rule)
Many investors are confused about the deposit period. Here is the golden rule:
📝 The Rule: You only need to deposit money for the first 15 Years.
However, the account matures after 21 Years.
For the last 6 years (Year 16 to 21), you do not deposit anything, but your money keeps earning compounding interest.
Key Eligibility Rules (2026 Updated)
| Parameter | Rule |
|---|---|
| Who can open? | Parents/Guardians for a girl child below 10 years of age. |
| Max Accounts | Max 2 accounts per family (2 girls). Exception for twins/triplets. |
| Min Deposit | ₹250 per financial year. |
| Max Deposit | ₹1.5 Lakh per financial year. |
Withdrawal Rules: When can I take the money?
SSY is a long-term lock-in scheme, but there are options for early withdrawal:
- For Education (After Age 18): Once the girl turns 18, you can withdraw up to 50% of the balance for her higher education fees. Proof of admission is required.
- For Marriage (After Age 18): You can close the account prematurely if the girl is getting married after turning 18.
Frequently Asked Questions (FAQs)
What happens if I miss a yearly deposit?
If you fail to deposit the minimum ₹250 in a year, the account becomes “Default”. To reactivate it, you must pay a penalty of ₹50 per missed year plus the minimum deposit amount.
Is the interest rate fixed for 21 years?
No. The government revises the SSY interest rate every quarter (every 3 months). However, once interest is credited to your account, it stays there.
Can NRIs open an SSY account?
No, Non-Resident Indians (NRIs) are not eligible to open an SSY account. If the girl child becomes an NRI after opening the account, the account must be closed.