How the Sukanya Samriddhi Yojana Calculator Works
Enter how much you plan to deposit each financial year, whether you deposit once a year or monthly, your daughter's age when the account is opened, and the current SSY interest rate. The government revises the rate every quarter, so you enter it yourself rather than have it fetched live.
The calculator follows the scheme's structure: deposits are made for the first 15 years, and the balance then keeps earning interest without further deposits until the account matures 21 years after opening. Interest is compounded annually.
You'll see your total deposits, the interest earned, the maturity value, and a year-wise table showing the deposit, interest and balance for each of the 21 years along with your daughter's age.
Benefits of Sukanya Samriddhi Yojana
- Attractive, government-backed returns: SSY has typically offered a higher rate than most other small savings schemes, and being a sovereign-backed scheme it carries virtually no default risk.
- Tax benefits: deposits qualify for a deduction under Section 80C (old tax regime), and the interest earned and the maturity amount are currently tax-free, giving SSY EEE (Exempt-Exempt-Exempt) status.
- Low entry point: you can open an account with as little as ₹250 and deposit up to ₹1.5 lakh a year, so it suits both small and large savers.
- Built for long-term goals: the 21-year term lines up with a daughter's higher education and marriage expenses, and compounding does most of the work in the later years.
- Partial withdrawal for education: under current rules, up to 50% of the balance can be withdrawn once the girl turns 18 or passes Class 10, to help fund her higher education.
Formula Used
For each year of the deposit period (years 1 to 15), the balance grows as shown below. For years 16 to 21 there is no deposit, so the balance simply earns interest.
Closing Balance = (Opening Balance + Yearly Deposit) × (1 + r) [years 1–15] | Opening Balance × (1 + r) [years 16–21]- rAnnual SSY interest rate (as a decimal)
- Yearly DepositAmount deposited at the start of the financial year (for monthly deposits, interest is worked out month by month and credited at year end)
Example Calculation
A typical example: depositing the maximum yearly amount in an account opened when the girl is 1 year old.
- Yearly Deposit₹1,50,000
- Deposit PatternOnce a year (April)
- Girl's Age at Opening1 year
- Interest Rate8.2% p.a.
- Total Deposits ≈ ₹22,50,000, Maturity Value ≈ ₹71,82,119 (at age 22)
Important Assumptions
- The SSY interest rate is set by the government and reviewed every quarter, and the scheme's rules can also change. The rate used here is whatever you enter, so check the current rate and rules before relying on this for planning.
- Deposits are assumed for the first 15 years only, with the account maturing after 21 years from opening. Interest is compounded annually.
- With the 'once a year' option, the full amount is assumed to be deposited at the start of the financial year, which gives the most interest. With the 'monthly' option, 12 equal deposits are assumed, with interest worked out month by month and credited at the end of each year. This is a close approximation of the actual rule, where interest is calculated on the lowest balance between the 5th and the last day of each month.
- Missed deposits, partial withdrawals and premature closure are not modelled. A year with no deposit makes the account 'default' and you would need to pay the minimum deposit plus a small penalty to revive it.
- Tax rules can change. This calculator does not provide tax advice.