SSY Calculator
Project your Sukanya Samriddhi Yojana corpus. Tax-free savings for your daughter's future.
Frequently Asked Questions
What is Sukanya Samriddhi Yojana?
SSY is a government savings scheme for girl children (up to age 10). Deposits are made for 15 years, and the account matures at age 21. Returns are completely tax-free (EEE status).
What is the current SSY interest rate?
The SSY rate for Q1 FY 2024-25 is 8.2% per annum, compounded annually. Rates are reviewed quarterly by the Ministry of Finance.
Is SSY tax-free?
Yes. SSY has EEE (Exempt-Exempt-Exempt) status: investments are eligible for 80C deduction, interest earned is tax-free, and maturity is tax-free.
What is the minimum and maximum deposit?
Minimum ₹250 per year. Maximum ₹1.5 Lakhs per year. You must deposit for 15 years from the account opening date.
When does SSY mature?
SSY matures when the girl child turns 21. However, contributions are only mandatory for the first 15 years. The account continues to earn interest from year 15 to 21.
Can I withdraw from SSY before maturity?
50% can be withdrawn at age 18 for higher education. Premature closure is allowed in case of the account holder's death or life-threatening illness.
Where can I open an SSY account?
SSY accounts can be opened at any post office or authorized bank branches (SBI, HDFC, ICICI, Axis, etc.) with the girl's birth certificate and parent's KYC documents.
How many SSY accounts can I open?
One account per girl child. Maximum 2 accounts per family (3 if twins/triplets at second birth). Only the natural/legal guardian can open the account.