Sukanya Samriddhi Yojana Calculator
Calculate returns on Sukanya Samriddhi Yojana (SSY) investment for your girl child's education and future. SSY is a government-backed savings scheme that offers attractive interest rates and tax benefits for girl child education.
Interest Rate
Investment Summary
Total Deposits:
?0
Maturity Value:
?0
Total Interest:
?0
Tax Benefits
Tax Savings (80C):
?0
Effective Cost:
?0
Post-Tax Returns:
?0
Education Fund
Annual Deposit:
?0
Maturity Age:
0 years
Education Corpus:
?0
Understanding Sukanya Samriddhi Yojana (SSY)
Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme launched in 2015 to encourage parents to save for their girl child's education and marriage expenses. It offers attractive interest rates, tax benefits, and is specifically designed for the welfare and education of girl children in India.
SSY Key Features
Investment Details
- Minimum annual deposit: ?250
- Maximum annual deposit: ?1.5 lakhs
- Account can be opened for girl child aged 0-10 years
- 15-year term (extendable by 5 years)
- Deposits in multiples of ?250
Benefits & Returns
- Attractive interest rates (currently 8.2%)
- Tax benefits under Section 80C
- Partial withdrawal allowed after 18 years
- Government backed guarantee
- Available at post offices and banks
Current SSY Interest Rates
| Financial Year | Interest Rate | Annual Deposit Limit | Minimum Deposit |
|---|---|---|---|
| 2024-25 | 8.20% | ?1,50,000 | ?250 |
| 2023-24 | 8.00% | ?1,50,000 | ?250 |
| 2022-23 | 7.60% | ?1,50,000 | ?250 |
| 2021-22 | 7.60% | ?1,50,000 | ?250 |
SSY Deposit Rules
Deposit Frequency:
- Annual deposits required
- Due date: March 31st each year
- Late deposit penalty: ?50 per year
- Deposits can be made anytime
- Online and offline options available
Account Limits:
- Maximum 2 accounts per family
- One account per girl child
- Annual deposit limit: ?1.5 lakhs
- Minimum deposit: ?250 per year
- Deposits in multiples of ?250
SSY Maturity & Withdrawals
Withdrawal Rules
Maturity:
- Account matures at 21 years of age
- Can be extended by 5 years (till 25)
- Full amount paid on maturity
- Interest continues during extension
- Tax-free maturity proceeds
Partial Withdrawals:
- Allowed after girl turns 18
- Maximum 50% of balance
- For higher education expenses
- Proof of admission required
- Tax-free withdrawals
Premature Closure:
- Allowed only for marriage
- After girl turns 18
- Marriage certificate required
- Penalty: 1% reduction in interest
- Available at designated post offices
Death of Account Holder:
- Account transferred to mother
- If mother deceased, to legal guardian
- Full amount paid without penalty
- Tax-free proceeds
SSY Tax Benefits
Tax Deductions:
- Deposits eligible under Section 80C
- Up to ?1.5 lakhs deduction
- Part of overall 80C limit
- Available to both parents
- Grandparents can also contribute
Tax on Returns:
- Interest income is tax-free
- Maturity proceeds tax-free
- Partial withdrawals tax-free
- No TDS on interest
- No capital gains tax
SSY vs Other Girl Child Investment Options
| Feature | SSY | PPF | Mutual Funds | Fixed Deposits |
|---|---|---|---|---|
| Interest Rate | 8.2% | 7.1% | 12-15% | 6-7% |
| Tax Benefits | 80C + Tax-free returns | 80C + Tax-free | 80C (ELSS) | Taxable |
| Lock-in Period | 15 years | 15 years | 3 years (ELSS) | Flexible |
| Risk Level | Very Low | Very Low | High | Low |
| Girl Child Specific | Yes | No | No | No |
How to Open SSY Account
Required Documents:
- Girl child's birth certificate
- Parent's ID proof (Aadhaar/PAN)
- Address proof
- Passport size photographs
- Initial deposit amount
Where to Open:
- All post offices in India
- Authorized banks
- Online through India Post website
- Mobile app of India Post
- Through authorized agents
SSY for Financial Planning
Education Planning:
- Build corpus for higher education
- Covers tuition and living expenses
- Partial withdrawals for education
- Tax-free withdrawals
- Long-term wealth creation
Marriage Expenses:
- Funds available at marriage
- Premature closure allowed
- Penalty of 1% on interest
- Tax-free maturity amount
- Financial security for parents
Key Takeaways for SSY Investment
- SSY is specifically designed for girl child education and welfare
- Offers attractive interest rates with government guarantee
- Tax benefits under Section 80C for deposits and tax-free returns
- Minimum annual deposit ?250, maximum ?1.5 lakhs per year
- 15-year lock-in period with option to extend by 5 years
- Partial withdrawals allowed after 18 years for education
- Premature closure possible after 18 years for marriage
- Ideal for long-term financial planning for girl child's future