Investment Summary
- Total Investment ₹0
- Total Interest ₹0
- Maturity Year 0
- Maturity Value ₹0
Yearly Breakdown
| Year | Annual Deposit | Interest Earned | Closing Balance |
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The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme in India designed specifically for the financial well-being of a girl child. It aims to encourage parents to build a dedicated fund for their daughter's future education and marriage expenses. This SSY Calculator helps you project exactly how much wealth you will accumulate over the tenure of the scheme.
How the SSY Scheme Works
The scheme has very specific rules regarding deposits and maturity. Once you open an SSY account, you are required to make deposits for exactly 15 years. However, the account continues to earn interest until it matures at 21 years from the date of opening.
The interest is compounded annually. Even during the final 6 years when you are no longer adding new deposits, your accumulated balance continues to grow powerfully due to the high compounding interest rate set by the government.
How to Use This Forecasting Tool
- Enter your Yearly Investment amount. The legal minimum deposit is 250 rupees, and the maximum allowed limit is 150000 rupees per financial year.
- Enter the current Annual Interest Rate. The government revises this rate quarterly, but it typically remains one of the highest among fixed-income schemes.
- The Deposit Period is fixed at 15 years by law, and the Maturity Period is fixed at 21 years. The calculator applies these rules automatically.
- Check the main dashboard to see your final Total Maturity Amount and the exact amount of interest earned over 21 years.
Frequently Asked Questions
Are there any tax benefits for investing in SSY?
Yes, SSY falls under the Exempt-Exempt-Exempt (EEE) tax category, making it one of the most tax-efficient instruments in India. The amount you deposit is eligible for tax deduction under Section 80C up to 150000 rupees. Furthermore, the interest earned every year and the final maturity amount are completely tax-free.
Can I withdraw money before 21 years?
Partial withdrawal is permitted under specific conditions. You can withdraw up to 50 percent of the account balance at the end of the preceding financial year for the girl's higher education, provided she has attained the age of 18 years or passed the 10th standard. Premature closure is also allowed in the event of the girl's marriage after she turns 18.
What happens if I forget to deposit the minimum amount in a year?
If you fail to deposit the minimum 250 rupees in a financial year, the account falls into a defaulted state. However, it can be easily revived by paying a small penalty of 50 rupees along with the minimum deposit amount for the missed year.