SSY calculator for Sukanya Samriddhi Yojana

SSY Calculator India – Detailed Guide

Sukanya Samriddhi Yojana (SSY) is one of the most popular long-term savings schemes for the girl child in India. This SSY calculator helps you estimate how much corpus you can build by the time your daughter turns 21 based on your yearly contribution and expected interest rate.

How Sukanya Samriddhi Yojana works

SSY is a government-backed small savings scheme with a fixed tenure linked to the girl child’s age. You open the account before she turns 10, invest for 15 years, and the account matures when she turns 21. Interest is compounded annually and the final maturity amount is completely tax-free.

• Account can be opened for a girl child below 10 years of age.
• Only one SSY account is allowed per girl child (maximum two daughters per family, with some exceptions).
• Deposits can be made in lump sum or in instalments during the year.
• Minimum contribution is ₹250 per year; maximum is ₹1.5 lakh per year.

SSY interest rate and compounding

The SSY interest rate is notified every quarter by the Government of India. Once declared for a quarter, that rate applies to the balance for that period. For planning purposes, this calculator assumes a constant annual rate so that you can see how your investments may grow over time.

• Interest is calculated on the lowest balance between the 10th and the last day of the month.
• Interest is credited to the account at the end of each financial year.
• Compounding helps your yearly contributions grow significantly over 15+ years.

Tax benefits of SSY

SSY enjoys the rare EEE (Exempt-Exempt-Exempt) tax status. This means your yearly contributions can be claimed under Section 80C, interest credited to the account is tax-free, and the maturity amount is also tax-free.

• Investments up to ₹1.5 lakh per year qualify for Section 80C deduction (combined with other eligible investments).
• No tax is payable on interest earned and the final maturity corpus.
• This makes SSY one of the most tax-efficient long-term savings options in India.

Using this SSY calculator for planning

The SSY calculator takes your annual contribution, your daughter’s current age, and the expected interest rate to estimate the total amount you will invest, total interest earned, and the maturity amount at age 21.

• Try different contribution amounts to see how much corpus you can build.
• Experiment with slightly lower interest rates to plan conservatively.
• Use the maturity amount as a target for higher education or marriage planning.

SSY vs other small savings schemes

For long-term goals for a girl child, SSY is often compared with PPF, Post Office MIS, and SCSS (for seniors). Each scheme has a different purpose, lock-in period, and tax treatment. SSY stands out for its EEE tax status and girl-child focus.

• Compared to PPF, SSY has a similar maximum limit but is dedicated to the girl child.
• Compared to Post Office MIS and SCSS, SSY focuses on growth rather than monthly income.
• For higher education goals 15–21 years away, SSY can be a solid base along with mutual funds.