SSY Calculator 2026 — Sukanya Samriddhi Yojana Maturity Amount

Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme for girl children, launched under the Beti Bachao Beti Padhao initiative. Parents or legal guardians can open an account for a girl child below 10 years of age. Maximum 2 accounts per family (3 in exceptional cases of twins or triplets). Accounts can be opened at any post office or authorised bank branches (SBI, HDFC, ICICI, etc.).

SSY interest is compounded annually at the rate set by the Government of India (reviewed quarterly). Current rate (Jan–Mar 2026): 8.2% p.a. Formula: Interest = (Opening Balance + Deposit) × Rate. Contributions are made for 15 years from account opening. The account continues to earn interest for the remaining 6 years without contributions, and matures at 21 years from opening. Example: ₹1.5L/year for 15 years at 8.2% = ₹22.5L invested → ~₹71L at maturity.

Two types of early access are allowed: (1) Partial withdrawal — up to 50% of the balance at the end of the previous financial year, allowed after the girl child turns 18, for higher education or marriage expenses. Documents (fee slips or marriage proof) are required. (2) Premature closure — after 5 years for life-threatening illness of the account holder or death, or after the girl turns 18 for marriage (at least 1 month before / 3 months after marriage date). Normal premature closure (other reasons) results in post office savings rate (4%) from the date of closure.

SSY has EEE (Exempt-Exempt-Exempt) tax status — the most favourable tax treatment possible: (1) Contributions up to ₹1.5L/year are deductible under Section 80C; (2) Interest earned is completely tax-free; (3) Maturity amount is fully tax-exempt. At 30% tax slab, investing the maximum ₹1.5L/year saves ₹45,000 in tax annually — ₹6.75L over the 15-year contribution period.

SSY vs PPF for girl child: SSY rate (8.2%) > PPF rate (7.1%) — higher returns. SSY lock-in is 21 years (from opening) vs PPF’s 15 years (extendable). SSY is exclusively for girl child education/marriage; PPF has no such restriction. Both have EEE tax status and 80C deduction up to ₹1.5L. If you have a girl child under 10, SSY is superior due to higher guaranteed rate. PPF is better for general long-term family savings. Many parents use both — SSY for the daughter’s future, PPF for general retirement.

The SSY interest rate is reviewed and announced by the Ministry of Finance every quarter (January, April, July, October). It is linked to the 10-year government bond yield and set by a committee under the Department of Economic Affairs. In practice, rates have been fairly stable in recent years — SSY has been at 8.0–8.2% since 2020, compared to the peak of 9.2% in 2015-16. Since SSY is a 21-year instrument, even small rate changes compound significantly. A drop from 8.2% to 7.5% on the maximum ₹1.5L/year deposit would reduce the maturity amount by approximately ₹5–6 lakh. For planning, use the current rate as baseline but model a 0.5% lower scenario to be conservative.

Premature closure is allowed only under specific conditions: (1) If the girl child passes away — the balance with accrued interest is paid to the guardian. (2) On compassionate grounds, such as life-threatening illness of the account holder or death of the guardian, the account can be closed after 5 years with interest at the SSY rate. (3) After the girl turns 18, premature closure is permitted for marriage (up to 1 month before or 3 months after the marriage date). If the account is closed for any other reason before maturity, interest is paid at the post office savings rate (currently 4% p.a.) instead of the SSY rate, which results in a substantial loss of accumulated interest.

For education funding, SSY has a clear edge due to its higher rate (8.2% vs PPF’s 7.1%) and the fact that 50% partial withdrawal is available when the girl turns 18 — precisely when higher education expenses begin. PPF allows partial withdrawal only from year 7, and the amount is limited to 50% of the balance at the end of the 4th preceding year. However, SSY has a hard cap of ₹1.5L/year in deposits, and the remaining 50% stays locked until maturity (age 21). If your education funding goal exceeds what SSY can deliver, combine SSY with equity SIPs for the portion needed beyond ₹1.5L/year. SSY acts as the guaranteed base, while equity provides higher growth for larger goals like private medical or overseas education.

Yes, SSY accounts are fully transferable between post offices and between authorised banks across India at no cost. This is useful if the family relocates to another city. To transfer, submit a transfer application at your current branch along with the passbook and identity proof. The old branch closes the account and sends relevant documents to the new branch, which opens the account seamlessly. The transfer does not affect the interest rate or maturity date. If the girl child studies in a different city, the account can be transferred to a branch near her institution, making partial withdrawals at age 18 more convenient.

SSY accounts do not have a traditional nominee system like PPF or bank accounts. The account is always in the girl child’s name, with a parent or legal guardian operating it until she turns 18. If the guardian passes away, the other parent or a court-appointed legal guardian can continue operating the account by submitting the death certificate and guardianship documents to the post office or bank. The girl child herself can operate the account once she turns 18. In case both parents pass away, a legal guardian appointed by the court takes over. The account continues to earn interest at the SSY rate without interruption during the transition of guardianship.