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 exclusively for the girl child to build a corpus for her higher education and marriage expenses.
It offers the highest interest rate among all small savings schemes and falls under the EEE (Exempt-Exempt-Exempt) tax category, making it the best investment for your daughter's future.
Who Can Open an SSY Account?
- Girl Child: Account can be opened in the name of a girl child below 10 years of age.
- Limit: Only one account per girl child. Maximum two accounts per family (exception for twins/triplets).
- Min/Max Deposit: Minimum ₹250/year and Maximum ₹1.5 Lakh/year.
SSY vs PPF: Which is Better?
| Feature | Sukanya Samriddhi (SSY) | Public Provident Fund (PPF) |
|---|---|---|
| Interest Rate | ~8.2% | ~7.1% |
| Eligibility | Girl Child (Below 10 years) | Anyone |
| Tenure | 21 Years | 15 Years |
| Deposit Period | 15 Years | 15 Years |
Withdrawal & Maturity Rules
Partial Withdrawal: You can withdraw up to 50% of the balance for the girl's higher education once she turns 18 or passes 10th standard.
Full Maturity: The account matures 21 years after opening. However, it can be closed earlier if the girl gets married after turning 18.
How This Calculator Helps Your Planning
SSY involves a long 21-year tenure, where deposits are made for only 15 years but interest continues for the full period. Calculating this manually is complex.
Maturity Estimate
Know exactly how much corpus will be available when your daughter turns 21 years old.
Deposit Planning
See how increasing deposits from ₹2,000 to ₹5,000 can dramatically boost the final amount due to compounding.
Long-Term Visibility
Understand the power of compounding over two decades with a government-backed scheme.
SSY Interest Calculation Logic
Interest in SSY is compounded annually at the end of each financial year.
P includes accumulated principal and interest from previous years.