Sukanya Samriddhi Yojana (SSY) Calculator

SSY is a government-backed savings scheme for girl children, offering guaranteed returns and tax savings to secure their education and marriage expenses.

Parents or legal guardians can open the account in the name of a girl child who is resident in India and aged 10 years or below.

You need to contribute to the SSY account for 15 years from the date of opening the account. The account continues to earn interest for the remaining 6 years until it matures at 21 years.

If you fail to deposit the minimum ₹250 in a financial year, the account will be defaulted. You can regularize it by paying a penatly of ₹50 per defaulted year plus the minimum deposit amount.

No, the interest rate is reviewed and declared by the Ministry of Finance quarterly. However, once credited, it compounds annually at the declared rate.

No. SSY belongs to the Exempt-Exempt-Exempt (EEE) tax category, meaning the principal, interest earned, and final maturity corpus are completely tax-free.

Partial withdrawal of up to 50% of the balance is allowed for the girl child's higher education after she attains 18 years of age or completes 10th standard, whichever is earlier.

Premature closure is allowed only in extreme cases such as the death of the account holder or guardian, or if the girl child gets married after reaching 18 years of age.

No, Non-Resident Indians (NRIs) cannot open an SSY account. If the girl child becomes an NRI after account opening, the account must be closed, and interest is paid only up to the date she became an NRI.

Yes, the SSY account is completely portable across India. You can transfer it from one post office to another or to any authorized bank branch online or offline without any charges.