SSY Calculator (Sukanya Samriddhi Yojana)

What is Sukanya Samriddhi Yojana (SSY)?

Sukanya Samriddhi Yojana (SSY) is a small savings scheme backed by the Government of India, specifically designed for the parents of a girl child. The scheme encourages parents to build a fund for the future education and marriage expenses of their female child. It offers a high interest rate (typically higher than PPF) and tax benefits.

Key Features of SSY

• Eligibility: Can be opened for a girl child below the age of 10 years. Only one account per girl child is allowed. A family can open a maximum of two accounts (for two different girls, exceptions for twins/triplets).
• Investment Limit: Minimum annual deposit is ₹250, maximum is ₹1,50,000 in a financial year.
• Deposit Period: Deposits can be made for 15 years from the date of account opening.
• Maturity Period: The account matures after 21 years from the date of opening, or upon the marriage of the girl child after she attains the age of 18.
• Interest Rate: Interest is compounded annually and credited to the account. The rate is notified by the government quarterly.
• Withdrawal: Partial withdrawal (up to 50% of the balance) is allowed for the girl's higher education expenses after she turns 18 or completes 10th standard.
• Tax Benefits: Contributions, interest earned, and maturity amount are all tax-exempt under Section 80C, EEE status (Exempt-Exempt-Exempt).

Disclaimer: This calculator provides estimates based on the rules and interest rate entered. The actual interest rate is subject to change as per government notifications. The calculation assumes annual investment is made at the beginning of each financial year. Consult official sources or a financial advisor for precise details and planning.