What is SSY?
Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme launched under the Beti Bachao Beti Padhao campaign for the girl child. It offers one of the highest interest rates among government schemes (currently 8.2%) with EEE tax status.
The account can be opened for a girl child below 10 years of age. Deposits are mandatory for 15 years, and the account matures when the girl turns 21. Partial withdrawal (50%) is allowed after the girl turns 18 for education or marriage expenses.
Formula
SSY uses annual compounding: Deposit phase (Years 1-15): Balance = (Previous Balance + Yearly Deposit) × (1 + r) Non-deposit phase (Years 16-21): Balance = Previous Balance × (1 + r) For ₹1,50,000/year at 8.2%, girl age 5: - Deposits for 15 years = ₹22,50,000 - Maturity at age 21 ≈ ₹69,27,578 - Interest earned ≈ ₹46,77,578
How to use this SSY Calculator?
1. Enter the annual investment amount (min ₹250, max ₹1,50,000). 2. Set the current SSY interest rate (8.2% for FY 2025-26). 3. Enter the girl child's current age. 4. See the projected maturity amount when she turns 21.