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Now that you know what SSY pays her, learn where the rest of her money should sit.
Learn MoreAbout Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme built for a girl child's future, education and marriage in particular. A parent or guardian opens the account, contributes for the first 15 years, and the balance keeps compounding for a further 6 years until it matures at year 21.
SSY Maturity Formula
A = P * (1 + r/n) ^ (n*t), where I = A - P
| Variable | Description |
|---|---|
| A | Maturity value |
| P | Principal amount |
| r | Rate of interest payable n times a year |
| n | Compounded interest frequency |
| t | Number of years |
| I | Interest earned amount |
Eligibility and Contribution Rules
| Rule | Detail |
|---|---|
| Who can open an account | Parent or legal guardian, for a girl child under 10 years old |
| Accounts per family | Maximum 2 (3 if the second child is a twin) |
| Minimum deposit | ₹250 |
| Maximum deposit | ₹1.5 lakh per financial year |
| Deposit period | First 15 years |
| Maturity | 21 years from account opening |
| Current interest rate | 8.2% p.a. (Q1 FY 2026-27), compounded annually |
If you miss a year’s deposit, the account doesn’t close: it becomes “irregular.” Reactivate it by paying the ₹250 minimum plus a ₹50 penalty for each year missed.
Tax Benefits
- Deposits qualify for deduction under Section 80C (now Section 123) up to ₹1.5 lakh per year
- Interest earned is exempt from income tax
- The maturity amount is also fully tax-exempt
Note: the exemption sections above referencing “Section 10” for interest and maturity have been restructured under the Income Tax Act, 2025. Where exactly it landed varies by source, so we’re not citing a specific new number here.
When and How You Can Withdraw
Partial withdrawal at 18: once your daughter turns 18, or passes 10th standard, whichever comes first, you can withdraw up to 50% of the account’s balance for education or marriage, as a lump sum or across up to 5 years.
Premature closure, before the 21-year maturity, is allowed only in these situations:
| Reason | Detail |
|---|---|
| Marriage | After she turns 18; apply 1 month before to 3 months after the marriage. Paid at a lower rate, ~7.2% instead of the standard 8.2% |
| Death | Of the account holder |
| Life-threatening illness | Of the account holder, or death of the guardian |
| NRI status | If residential status changes |
| Financial hardship | On compassionate, court-approved grounds |
No other reason qualifies for early closure.
Alternatives to SSY for a Girl Child
If you’re weighing SSY against other options: National Savings Certificate, tax-saving mutual funds (ELSS), Post Office Term Deposits, and Sovereign Gold Bonds are the most commonly compared alternatives, each with different liquidity and risk trade-offs worth checking against your own timeline.
How This Calculator Helps
- Calculates the exact SSY maturity amount for your inputs
- Shows the yearly contribution needed to hit a specific target corpus
- Makes the 15-year deposit / 21-year maturity gap clear, so you’re not caught off guard by the difference
Frequently Asked QuestionsEverything you want to know
Can an SSY account be closed before maturity?
Yes, in five specific situations: marriage of the account holder after she turns 18, her death, a life-threatening illness, a change to NRI status, or extreme financial hardship on compassionate grounds. Closure for marriage is paid at a lower rate (around 7.2%) than the standard SSY rate. No other reason qualifies.
What is the current SSY interest rate?
8.2% per annum for the April–June 2026 quarter, compounded annually. The government reviews it every quarter.
Do I need to keep contributing for all 21 years?
No. Contributions are required only for the first 15 years. After that, your balance keeps compounding at the SSY rate for the remaining 6 years with no further deposits, right through to maturity.
What happens if I miss a year’s deposit?
The account becomes irregular, not closed. Reactivate it by depositing the ₹250 minimum plus a ₹50 penalty for each year missed. It still earns interest even during a year you didn’t contribute.
What are the tax advantages of the SSY scheme?
Deposits qualify for a deduction of up to ₹1.5 lakh under Section 80C (now Section 123). Both the interest earned and the maturity amount are exempt from income tax.
How many accounts can be created under SSY?
Up to 2 per family, one per girl child. If the second child is a twin, a third account is allowed.
What is the minimum and maximum investment in SSY?
Minimum ₹250, maximum ₹1.5 lakh per financial year.
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