👧 Sukanya Samriddhi Yojana Calculator 👧
Plan your girl child’s bright future with tax-free savings and guaranteed returns
Sukanya Samriddhi Yojana Projection
Year-wise Projection
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📈 Understanding Sukanya Samriddhi Yojana (SSY)
The Sukanya Samriddhi Yojana is a government-backed savings scheme specifically designed for the welfare of girl children in India. It offers attractive interest rates and tax benefits to encourage saving for a girl child’s future education and marriage expenses.
Key Features of SSY
High Interest Rates
Currently offers 8.2% interest (higher than most fixed deposits)
Tax-Free Returns
EEE (Exempt-Exempt-Exempt) status – Contributions, interest and withdrawals all tax-free
Government Backed
Complete capital protection as it’s backed by the Government of India
Long-Term Growth
21-year maturity period from account opening date
💰 Tax Benefits of SSY
Section 80C Deduction
Contributions up to ₹1.5 lakh per year qualify for deduction under Section 80C
Tax-Free Interest
All interest earned is completely tax-free, unlike fixed deposits
Tax-Free Withdrawal
Entire maturity amount including interest is tax-free
📅 SSY Account Timeline
- Account Opening: Can be opened anytime from birth until girl turns 10
- Contribution Period: 15 years from account opening
- Maturity: 21 years from account opening (when girl turns 21)
- Partial Withdrawal: Up to 50% of balance can be withdrawn after girl turns 18 for education/marriage
🔍 How SSY Compares to Other Investments
- vs Fixed Deposits: SSY offers higher tax-free returns compared to taxable FD interest
- vs PPF: SSY has higher interest rates (8.2% vs 7.1%) but only for girl children
- vs Mutual Funds: SSY has guaranteed returns while MFs are market-linked
- vs Gold: SSY provides fixed returns while gold prices fluctuate
🔗 Related Financial Planning Tools
❓ Frequently Asked Questions
What is the current SSY interest rate?
The current SSY interest rate is 8.2% per annum (as of Q2 2023). The government reviews and revises this rate quarterly.
Can I open SSY account for a 12-year-old girl?
No, SSY accounts can only be opened for girls below 10 years of age.
What is the minimum and maximum investment in SSY?
Minimum ₹250 per year, maximum ₹1.5 lakh per year. You can deposit in lump sum or in installments (minimum ₹250 per deposit).
Can I withdraw money from SSY before maturity?
Partial withdrawals (up to 50% of balance) are allowed after the account holder turns 18, for education or marriage purposes.
Is SSY better than PPF?
SSY offers higher interest rates (8.2% vs 7.1% for PPF) but is only available for girl children. Both have similar tax benefits.
For other SSY calculators, check out Groww’s SSY Calculator or Axis Bank’s SSY Calculator.