SSY Calculator — Sukanya Samriddhi Yojana

What is Sukanya Samriddhi Yojana (SSY)?

SSY is a government-backed savings scheme specifically for girl children. Launched under Beti Bachao Beti Padhao, it offers the highest interest rate among small savings schemes (8.2% for Q1 FY 2025-26), full EEE tax exemption, and guaranteed government-backed returns.

Who can open an SSY account?

A parent or legal guardian can open an SSY account for a girl child below 10 years of age. Only one account per girl child is allowed, and a maximum of two accounts per family (one for each girl child). In case of twins/triplets, more accounts are allowed.

What is the deposit and maturity structure?

Deposits are accepted for 15 years from the date of account opening. The account matures when the girl turns 21. If she is 5 when the account opens, deposits are made for 15 years (until age 20), and the balance continues to earn interest for one more year until maturity at age 21.

Can SSY funds be used for higher education?

Yes. Up to 50% of the account balance (as on the end of the preceding financial year) can be withdrawn for higher education expenses when the girl turns 18 or passes Class 10, whichever is earlier.

What are the tax benefits of SSY?

SSY enjoys full EEE tax status: deposits qualify for Section 80C deduction up to ₹1.5 lakh/year; interest earned is completely tax-free; and maturity proceeds are tax-free. This makes SSY one of the best tax-saving instruments in India for long-term goals.