Calculate SSY Maturity Amount
Min: ₹250 | Max: ₹1,50,000 per year
Account can be opened for girls below 10 years
SSY scheme launched in 2014
Your SSY Maturity Details
Total Investment
₹1,50,000
₹10,000 × 15 years
Total Interest
₹3,28,808
At 8.2% p.a. (compounded yearly)
Maturity Year
2046
21 years from account opening
Maturity Value
₹4,78,808
✓ Completely Tax-Free | ✓ Government Guaranteed
Note: Interest rate is subject to quarterly revision by the Government of India. Current rate: 8.2% (Q4 2024-25).
What is Sukanya Samriddhi Yojana (SSY)?
Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme launched under the "Beti Bachao, Beti Padhao" campaign in 2014. It is designed to secure the financial future of the girl child by providing attractive interest rates and tax benefits to parents or legal guardians.
The scheme can be opened at any post office or authorized commercial banks across India. It offers one of the highest interest rates among all government-backed savings schemes, currently at 8.2% per annum, which is compounded yearly and completely tax-free.
SSY is an excellent long-term investment option for parents who want to build a substantial corpus for their daughter's higher education and marriage expenses, with the added benefit of complete tax exemption on both investment and returns.
Key Features of Sukanya Samriddhi Yojana
High Interest Rate
Current interest rate of 8.2% p.a. compounded annually - one of the highest among all government savings schemes.
Triple Tax Benefits
Eligible for deduction under Section 80C, interest earned is tax-free, and maturity amount is completely tax-exempt (EEE status).
Partial Withdrawal
Withdraw up to 50% of the balance after the girl turns 18 for higher education expenses without penalty.
How Does Sukanya Samriddhi Yojana Work?
Account Opening
Parents or legal guardians can open an SSY account for a girl child below 10 years of age at any post office or authorized bank. Only one account per girl child is allowed, and a maximum of two accounts per family (for two daughters).
Deposit Period (15 Years)
Deposits can be made for 15 years from the date of account opening. Minimum deposit is ₹250 per year and maximum is ₹1,50,000 per financial year. Deposits can be made in lump sum or installments.
Interest Accrual (Years 16-21)
After 15 years, no more deposits are required, but the account continues to earn interest at the applicable rate until maturity. The interest is compounded annually and credited to the account.
Maturity (21 Years)
The account matures 21 years from the date of opening. At maturity, the entire amount (principal + interest) can be withdrawn tax-free. The account can also be closed after the girl turns 18 for marriage purposes.
Eligibility Criteria & Important Rules
✓ Who Can Open SSY Account?
- • Parents or legal guardians of a girl child
- • Girl child must be below 10 years of age
- • Only Indian residents are eligible
- • Maximum two accounts per family (two daughters)
- • In case of twins/triplets, third account allowed with proof
✓ Deposit Rules
- • Minimum deposit: ₹250 per year
- • Maximum deposit: ₹1,50,000 per year
- • Deposits can be made until 15 years
- • Deposits in cash, cheque, DD, or online transfer
- • Penalty of ₹50/year if minimum deposit not made
✓ Withdrawal Rules
- • Partial withdrawal: 50% after girl turns 18
- • Purpose: Higher education expenses only
- • Premature closure: After girl turns 18 for marriage
- • Closure on death of account holder allowed
- • Closure on medical grounds with documentation
✓ Account Transfer & Operation
- • Account transferable across India
- • Girl can operate account after turning 18
- • Before 18, guardian operates the account
- • Interest rate revised quarterly by government
- • Passbook issued for tracking deposits
Benefits of Sukanya Samriddhi Yojana
Government-Backed Security
Being a government scheme, SSY offers 100% safety and security. Your investment is backed by the Government of India, ensuring zero risk of capital loss.
Highest Returns Among Small Savings
SSY offers one of the highest interest rates (8.2% currently) among all government-backed small savings schemes, helping your money grow faster.
Complete Tax Exemption (EEE)
Enjoy triple tax benefits - investment qualifies for 80C deduction (up to ₹1.5L), interest is tax-free, and maturity amount is completely exempt from tax.
Flexible Withdrawal for Education
Access 50% of the balance after your daughter turns 18 for higher education needs, ensuring funds are available when needed most.
Low Minimum Investment
Start investing with just ₹250 per year, making it accessible to families from all economic backgrounds to secure their daughter's future.
Easy Account Transfer
Transfer your SSY account from one post office/bank to another anywhere in India free of cost, offering complete flexibility.
Frequently Asked Questions
1. What is the current interest rate for Sukanya Samriddhi Yojana in 2025?
The current interest rate for SSY is 8.2% per annum (October-December 2024 quarter), compounded annually. The interest rate is revised quarterly by the Government of India based on market conditions. This rate is significantly higher than most other savings schemes and bank fixed deposits.
2. Can I open an SSY account for my daughter who is 11 years old?
No, the account can only be opened for a girl child who is below 10 years of age. The age is calculated from the date of birth to the date of account opening. If your daughter has already turned 10, you won't be eligible to open an SSY account for her.
3. How many SSY accounts can I open?
A maximum of two accounts can be opened by a family - one for each daughter. Only one account per girl child is allowed. In case of twins or triplets born in the second delivery, a third account can be opened with supporting documents. No more than three accounts are permitted under any circumstances.
4. What happens if I don't deposit the minimum amount in a year?
If you fail to deposit the minimum amount of ₹250 in a financial year, your account will be considered "discontinued" or "defaulted". You can revive the account by paying ₹50 penalty for each year of default, along with the minimum deposit for those years. The account will continue to earn interest even if it's defaulted.
5. Can I withdraw money from SSY account before maturity?
Partial withdrawal of up to 50% of the balance is allowed after the girl child turns 18 years old, specifically for higher education expenses. The account can be prematurely closed after the girl turns 18 for marriage purposes. In case of medical emergency or death of the account holder, premature closure is allowed with supporting documents.
6. What are the tax benefits of SSY?
SSY enjoys EEE (Exempt-Exempt-Exempt) tax status. Investment up to ₹1.5 lakh qualifies for deduction under Section 80C of Income Tax Act. The interest earned is completely tax-free, and the maturity amount is also fully exempt from tax. This makes SSY one of the most tax-efficient investment options available.
7. Where can I open a Sukanya Samriddhi Account?
SSY accounts can be opened at any post office across India or at authorized branches of commercial banks including SBI, PNB, ICICI Bank, HDFC Bank, Axis Bank, and many others. You need to submit the account opening form along with the girl child's birth certificate and KYC documents of the guardian.
8. When does the SSY account mature?
The SSY account matures 21 years from the date of account opening. For example, if you open the account in 2025, it will mature in 2046. However, deposits need to be made only for the first 15 years. From year 16 to 21, the account continues to earn interest but no deposits are required or allowed.
9. Can I transfer my SSY account to another bank or post office?
Yes, you can transfer your SSY account from one post office/bank to another anywhere in India free of cost. You need to submit a transfer request along with the passbook at the current branch. The account can be transferred for the convenience of the depositor or if the account holder relocates to a different city.
10. What happens to the SSY account after the girl child gets married?
The account can be closed after the girl child turns 18 and gets married. The closure before maturity is allowed only for marriage purposes. You need to submit a marriage certificate or affidavit along with the closure request. If the girl marries before 18 or after 21 years, the account continues until normal maturity of 21 years.