About the SSY Calculator
What is the SSY Calculator?
The Sukanya Samriddhi Yojana (SSY) is a government savings scheme for a girl child, opened by a parent or guardian before she turns 10. It offers one of the highest guaranteed rates among small savings schemes and full EEE tax status.
Deposits (₹250 to ₹1.5 lakh a financial year) are made for 15 years from opening, and the account matures 21 years after it was opened, earning interest in the remaining six years without further deposits. Enter your yearly deposit, the girl's age at opening and the rate to see the maturity value.
How to use the SSY Calculator
- Yearly Deposit (₹250 – ₹1,50,000) (sample: 1,50,000)
- Girl's Age When the Account Is Opened — must be below 10 when the account is opened. (sample: 5)
- Interest Rate (% per year) (sample: 8.2)
- Press Calculate SSY Maturity (results also refresh as you type). The result card shows the Maturity Value, along with Total deposited (15 years), Interest earned (tax-free), Girl's age at maturity and Maturity multiple.
Formula used
Balanceₖ = (Balanceₖ₋₁ + D) × (1 + r) for years 1–15, then Balanceₖ₋₁ × (1 + r) for years 16–21
- D = the yearly deposit (made at the start of each year)
- r = the SSY interest rate
Interest is compounded yearly. The calculator assumes today's rate for the whole period; the actual rate is revised every quarter.
Worked example
These are the sample values already filled in the calculator above, and the result it returns for them:
| Input | Sample value |
|---|---|
| Yearly Deposit (₹250 – ₹1,50,000) | 1,50,000 |
| Girl's Age When the Account Is Opened | 5 |
| Interest Rate (% per year) | 8.2 |
| Result | Value |
|---|---|
| Maturity Value | ₹71,82,119 |
| Total deposited (15 years) | ₹22,50,000 |
| Interest earned (tax-free) | ₹49,32,119 |
| Girl's age at maturity | 26 years |
| Maturity multiple | 3.19× |
Tips for using the SSY Calculator
- Deposit before 5 April each year so the full amount earns interest for the whole year.
- Up to 50% of the balance can be withdrawn after the girl turns 18 (or passes Class 10) for higher education.
- A family can open accounts for up to two daughters (three for twins or triplets).