How Sukanya Samriddhi Yojana Works: Rules, Interest & Maturity
Sukanya Samriddhi Yojana (SSY) is a government‑backed savings scheme for the girl child, offering one of the highest interest rates (8.2%) among small savings instruments. The account can be opened before the girl turns 10, and deposits must be made for 15 years. What makes SSY unique is that the account continues to earn interest for another 6 years without additional contributions, maturing after 21 years. With the maximum yearly deposit of ₹1,50,000, the maturity corpus can cross ₹70 lakh — a powerful tool for funding higher education or marriage. Here’s how the scheme works and how to project your daughter’s maturity value.
Key rules and limits
- Account opening: before the girl’s 10th birthday.
- Deposit period: 15 years from the account opening year.
- Minimum yearly deposit: ₹250; maximum: ₹1,50,000.
- Maturity: 21 years after opening.
- Interest rate: currently 8.2% (compounded annually).
- Partial withdrawal: 50% of the balance after the girl turns 18.
Step-by-step: estimate your SSY maturity corpus
- Open the SSY Calculator tool.
- Enter the yearly deposit amount (between ₹250 and ₹1,50,000) and the girl’s current age (0–10 years).
- Set the interest rate (default 8.2%). The tool assumes deposits are made at the start of every year for 15 years, and interest compounds annually for the full 21‑year tenure.
- View the maturity amount, total deposited, total interest, and toggle the year‑wise table to see how the balance grows each year.
Worked example: ₹1,50,000 per year @ 8.2%
Let’s assume the account is opened when the girl is 3 years old. You deposit ₹1,50,000 every year for 15 years (total deposit ₹22,50,000). The account continues to earn 8.2% compound interest for the remaining 6 years. The maturity corpus at age 21 is approximately ₹71–72 lakh. That’s nearly three times the amount deposited, all tax‑free under Section 80C.
Frequently Asked Questions
What happens if I miss a yearly deposit?
A minimum deposit of ₹250 is required each year to keep the account active. If you miss it, the account becomes discontinued but can be revived by paying a penalty of ₹50 per year of default along with the minimum deposit.
Can I open more than one SSY account for the same girl?
No, only one SSY account per girl child is allowed. Opening multiple accounts can lead to closure of the extra accounts and loss of interest.
Is the interest rate fixed for the entire tenure?
No, the government revises SSY interest rates quarterly. The calculator lets you change the rate, but for planning, using the current rate as a baseline is reasonable.
Can the account be transferred between post offices or banks?
Yes, the account can be transferred from one authorised bank or post office to another anywhere in India, which is useful if you relocate.
Is it free and private?
Yes — the tool runs entirely in your browser, free, with no sign‑up and nothing uploaded to a server.
Try the SSY Calculator