Sukanya Samriddhi Calculator India 2026 - SSY Interest Rate, Maturity & Tax Benefits
TL;DR
Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme for the girl child with one of the highest interest rates among small savings schemes at 8.2% per annum (Q1 FY 2025-26). You can open an SSY account for a girl child from birth up to age 10, with annual deposits between Rs 250 and Rs 1,50,000. The account matures after 21 years from opening. SSY enjoys EEE (Exempt-Exempt-Exempt) tax status, meaning deposits qualify for Section 80C deduction, interest earned is tax-free, and maturity amount is completely tax-free. Key Facts:
- Current SSY interest rate: 8.2% per annum (compounded annually)
- Minimum annual deposit: Rs 250 | Maximum: Rs 1,50,000
- Account maturity: 21 years from date of opening
- Deposits required for only first 15 years (years 16-21 only earn interest)
- Partial withdrawal: 50% of balance at age 18 for higher education
- Tax status: EEE -- deposit, interest, and maturity all tax-free
- Maximum 2 accounts per family (one per girl child)
SSY Account Rules and Eligibility
Who Can Open
- Account holder: Girl child below 10 years of age
- Guardian: Natural or legal guardian opens and operates the account
- Limit: Maximum 2 SSY accounts per family (exception: twins/triplets for third account)
- Where to open: Any post office or authorized bank (SBI, PNB, BOB, ICICI, Axis, etc.)
Deposit Rules
| Parameter | Detail |
|---|---|
| Minimum deposit (per year) | Rs 250 |
| Maximum deposit (per year) | Rs 1,50,000 |
| Deposit period | 15 years from account opening |
| Deposit frequency | Lump sum or multiple installments per year |
| Default penalty | Rs 50 per year if minimum Rs 250 not deposited |
| Account reactivation | Pay Rs 250 minimum + Rs 50 penalty per defaulted year |
SSY Maturity Amount Calculation
Formula
Maturity Amount = Sum of (Annual Deposit x (1 + r)^n) for each year's depositWhere:
r = 8.2% (current rate, subject to quarterly revision)
n = number of years from deposit to maturity
Maturity Examples at 8.2% Interest Rate
| Annual Deposit | Total Deposits (15 years) | Interest Earned | Maturity Amount (21 years) |
|---|---|---|---|
| Rs 250 (minimum) | Rs 3,750 | Rs 10,546 | Rs 14,296 |
| Rs 10,000 | Rs 1,50,000 | Rs 4,21,849 | Rs 5,71,849 |
| Rs 50,000 | Rs 7,50,000 | Rs 21,09,246 | Rs 28,59,246 |
| Rs 1,00,000 | Rs 15,00,000 | Rs 42,18,492 | Rs 57,18,492 |
| Rs 1,50,000 (maximum) | Rs 22,50,000 | Rs 63,27,737 | Rs 85,77,737 |
---
SSY vs PPF vs Bank FD: Which Is Better?
| Feature | Sukanya Samriddhi (SSY) | PPF | Bank FD (5-year tax-saver) |
|---|---|---|---|
| Interest Rate | 8.2% | 7.1% | 7.0-7.5% |
| Compounding | Annual | Annual | Quarterly |
| Lock-in Period | 21 years | 15 years (extendable) | 5 years |
| Tax on Deposit | 80C deduction (Rs 1.5L) | 80C deduction (Rs 1.5L) | 80C deduction (Rs 1.5L) |
| Tax on Interest | Exempt | Exempt | Taxable as per slab |
| Tax on Maturity | Exempt | Exempt | N/A (principal returned) |
| Tax Status | EEE | EEE | EET |
| Eligibility | Girl child (0-10 years) | Any Indian resident | Anyone |
| Partial Withdrawal | 50% at age 18 | After 7th year (limited) | Premature penalty |
| Loan Facility | Not available | From 3rd to 6th year | Not available |
---
Partial Withdrawal Rules
After the girl child turns 18 or passes Class 10 (whichever is later), the guardian can withdraw up to 50% of the balance at the end of the preceding financial year for higher education purposes.
Withdrawal Process
- Submit application at the post office/bank where the account is held
- Provide admission proof (university/college admission letter)
- Withdrawal can be taken as lump sum or in installments (max 5 installments per year)
- Remaining balance continues to earn interest at the prevailing rate
Premature Closure
The account can be closed prematurely only in these cases:
- Death of account holder: Full balance with interest paid to guardian
- Life-threatening illness: Medical certificate required
- Marriage: After the girl turns 18, account can be closed for marriage expenses
- Change of citizenship/NRI status: Account must be closed
Tax Benefits Explained (Section 80C)
SSY is one of the few investments in India with EEE (Exempt-Exempt-Exempt) status:
| Tax Event | Treatment | Section |
|---|---|---|
| Annual deposit (up to Rs 1.5L) | Deductible from taxable income | Section 80C |
| Interest earned each year | Not taxable | Section 10 |
| Maturity amount | Completely tax-free | Section 10 |
Tax Savings Example
If you are in the 30% tax bracket and deposit Rs 1,50,000 per year in SSY:
- Annual tax saving: Rs 1,50,000 x 30% + 4% cess = Rs 46,800
- Over 15 years of deposits: Rs 7,02,000 in tax savings
- Plus Rs 63.27 lakh in tax-free interest on maturity
---
How to Open an SSY Account
- Visit your nearest post office or authorized bank branch
- Carry documents: Girl child's birth certificate, guardian's ID proof (Aadhaar), address proof, 2 passport-size photographs of guardian
- Fill Form: SSY account opening form (available at the counter or online)
- Initial deposit: Minimum Rs 250 by cheque/cash/demand draft
- Receive passbook: Account passbook issued immediately with account details
---
Frequently Asked Questions
Q: What is the current SSY interest rate for 2025-26?
The Sukanya Samriddhi Yojana interest rate for Q1 FY 2025-26 (April-June 2025) is 8.2% per annum, compounded annually. The rate is reviewed quarterly by the Ministry of Finance and has remained at 8.2% since January 2023. The rate is benchmarked against the 10-year government bond yield plus a spread.
Q: Can I open an SSY account for my adopted daughter?
Yes, legal guardians can open SSY accounts for adopted daughters, provided they have legal adoption documents. The same rules apply -- the girl must be below 10 years of age at the time of account opening, and the family limit of 2 accounts applies across both biological and adopted daughters.
Q: What happens if I do not deposit the minimum Rs 250 in a year?
The account becomes "defaulted" but is not closed. A penalty of Rs 50 per year of default is charged. To reactivate, you must pay the minimum deposit of Rs 250 plus Rs 50 penalty for each defaulted year. The account continues to earn interest on the existing balance even during the default period.
Q: Can NRIs open or maintain an SSY account?
NRIs cannot open new SSY accounts. If the guardian or the girl child becomes an NRI or changes citizenship after opening the account, the account must be closed. Interest on the balance will be paid up to the date of closure. Recent guidelines suggest some flexibility if the girl child returns to India before maturity, but it is advisable to check with the post office or bank.
---
Calculate Your SSY Maturity Amount
Enter your annual deposit and the girl child's current age to see the projected maturity amount and year-by-year growth. SSY Calculator → | SSY Maturity Table →