Sukanya Samriddhi Yojana Calculator

What is Sukanya Samriddhi Yojana?

Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme in India designed to secure the financial future of girl children. Managed by the Government of India, it encourages parents to build a fund for higher education and marriage expenses of their daughter.

Key Features

SSY offers guaranteed, risk-free returns with EEE tax benefits under Section 80C. The current interest rate is 8.2% (FY 2024–25). The account matures 21 years from account opening or upon the girl's marriage after age 18. Partial withdrawal of up to 50% is allowed for higher education once the child turns 18.

Contribution Breakdown

• Minimum Annual Deposit: ₹250 per financial year.
• Maximum Annual Deposit: ₹1.5 Lakh per financial year.
• Account Opening Age: Below 10 years of age (max 2 girl children per family).

How to Maximize SSY?

• Start as early as possible (ideally right after birth) to maximize compounding over 21 years.
• Deposit funds before the 10th of every month or early in April to maximize annual interest earned.
• Contribute up to the annual limit of ₹1.5 Lakh to maximize tax savings under Sec 80C.

Tax Implications

• Contributions qualify for tax deduction under Section 80C up to ₹1.5 Lakh/yr.
• Interest earned is completely tax-free.
• Maturity amount and partial withdrawals are 100% tax-exempt.

Planning Your Daughter's Future

SSY is specifically crafted for long-term savings for a girl child's education and marriage. With an 8.2% interest rate and EEE tax status, it offers among the highest risk-free returns in India. Deposits are required for the first 15 years, after which the account continues to earn compound interest until maturity at age 21.