What is Sukanya Samriddhi Yojana and who is eligible?

Sukanya Samriddhi Yojana (SSY) is a government savings scheme for the girl child. Any parent or guardian can open an SSY account for a girl below 10 years of age. Maximum 2 accounts per family (one per girl child, with an exception for twins/triplets). The rate for Oct–Dec 2026 is 8.2% p.a., one of the highest among small savings schemes, and the account has EEE (exempt-exempt-exempt) tax status. Rates are revised quarterly.

How long do I need to deposit money in SSY?

Deposits are required for the first 15 years from the date of opening. After that, the account continues to earn interest until it matures 21 years from the date of opening (not when the girl turns 21). Minimum deposit is ₹250 per year and maximum is ₹1,50,000 per financial year. If you miss the minimum deposit, a penalty of ₹50 per year of default applies to revive the account.

Can I withdraw from SSY before maturity?

Partial withdrawal of up to 50% of the balance at the end of the preceding financial year is allowed after the girl turns 18, for higher education. Premature closure is allowed after she turns 18 for her marriage: the application can be made no earlier than one month before and no later than three months after the marriage. The account can also be closed prematurely on the account holder's death or on extreme compassionate grounds such as a life-threatening illness.

Is SSY better than PPF or FD for a girl child?

For Oct–Dec 2026, SSY pays 8.2% vs PPF's 7.1%, and more than most bank FDs. Both SSY and PPF have EEE tax status and the same ₹1.5 lakh yearly deposit cap, and both count towards the same ₹1.5 lakh deduction limit under Section 123 / Schedule XV of the Income-tax Act, 2025 (formerly Section 80C; old tax regime only). The main limitations are that SSY money is locked until the account matures 21 years after opening (with a 50% education withdrawal from age 18) and that it is only for girl children. If she is eligible, SSY usually beats PPF on rate; PPF stays useful for your own long-term savings.

Sukanya Samriddhi Yojana Calculator

Estimate maturity value of your SSY account. See how much your daughter's education and marriage corpus will grow at the 8.2% government-backed rate notified for Oct–Dec 2026.

SSY Details

Annual Deposit (₹)

Daughter's Current Age

SSY can be opened for girls below age 10

Interest Rate (% p.a.)

Government rate for Oct–Dec 2026: 8.2% p.a. (revised quarterly)

Account Opening Year

What the account pays at maturity

You deposit
Interest earned
Wealth multiplier

SSY Growth Over Time

Partial Withdrawal at Age 18

Up to 50% of the balance at the end of the prior financial year can be withdrawn for higher-education expenses when your daughter turns 18.

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Year-by-Year SSY Breakdown

Year	Age	Deposit	Interest	Balance

SSY interest is compounded annually on the closing balance. Deposits are allowed for the first 15 years only; the account continues to earn interest until it matures 21 years from the date of opening. Calculations assume deposits are made at the start of each year (by 5 April). Financial-year labels assume the account is opened in April–December of the opening year.

What is Sukanya Samriddhi Yojana?

Sukanya Samriddhi Yojana (SSY) is a government-backed small savings scheme launched in 2015 under the Beti Bachao, Beti Padhao campaign. It is designed to build a financial corpus for the girl child's education and marriage. An SSY account can be opened by a parent or legal guardian at any India Post office or authorised bank for a girl child below the age of 10.

The scheme offers one of the highest interest rates among government-backed instruments, at 8.2% p.a. for Oct–Dec 2026 (Q3 FY 2026-27), higher than PPF (7.1%) and most bank fixed deposits. A maximum of two SSY accounts can be opened per family (one per girl child), with a minimum annual deposit of ₹250 and a maximum of ₹1,50,000.

SSY enjoys EEE (Exempt-Exempt-Exempt) tax status: contributions qualify for deduction under Section 123 read with Schedule XV of the Income-tax Act, 2025 (formerly Section 80C; old tax regime only), interest earned is tax-free, and the maturity amount is fully exempt from income tax. The account matures 21 years from the date of opening, so it suits long-term goals such as your daughter's higher education.

How to Use This SSY Calculator

1
Enter your annual deposit amount
Set the amount you plan to deposit each year. The minimum is ₹250 and the maximum is ₹1,50,000 per financial year. Deposits are required for the first 15 years only.
2
Enter your daughter's current age
SSY accounts can be opened for girls below the age of 10. The account matures 21 years from the date of opening, whatever her age then, and deposits are needed only for the first 15 years. Her age sets when the money becomes available (for example, at 26 if you open it when she is 5) and when the partial withdrawal at 18 falls.
3
Review the interest rate
The default 8.2% is the government-notified rate for Oct–Dec 2026. You can adjust it to model different scenarios. The rate is revised quarterly by the Ministry of Finance, so check the latest notification.
4
View your maturity value and year-by-year growth
The calculator shows the total corpus at maturity (21 years from opening), interest earned, wealth multiplier, and a detailed year-by-year breakdown. You can also see the partial withdrawal amount available at age 18.

SSY Key Features

8.2% Interest, Above PPF

SSY pays 8.2% p.a., higher than PPF (7.1%), typical bank FDs, and most other government-backed savings schemes. Interest is compounded annually over the 21-year tenure. Rate shown is for Oct–Dec 2026.

EEE Tax Benefit

Triple tax exemption: deposits up to ₹1.5 lakh qualify under Section 123 / Schedule XV of the Income-tax Act, 2025 (old regime; formerly Section 80C, and within the same ₹1.5 lakh overall limit), interest earned is tax-free, and the maturity amount is completely exempt from income tax.

Partial Withdrawal at 18

When the girl turns 18, up to 50% of the balance at the end of the preceding financial year can be withdrawn for higher education expenses, which lines up with college fees.

Government-Backed Safety

SSY is a sovereign-backed scheme with zero credit risk. Your principal and interest are guaranteed by the Government of India.

SSY Rules & Eligibility

Eligibility: Account can be opened by a parent or legal guardian for a girl child below the age of 10. Maximum 2 accounts per family (one per girl child), with an exception for twins/triplets born as the second birth.
Where to Open: Any India Post office or authorised banks (SBI, PNB, BOB, ICICI, Axis, HDFC, etc.). The account can be transferred between post offices and banks across India free of charge.
Deposit Rules: Minimum ₹250/year, maximum ₹1,50,000/year. Deposits can be made in lump sum or instalments. If the minimum ₹250 is not deposited in a year, a penalty of ₹50 per year of default is charged to reactivate the account.
Premature Closure: Allowed after the girl turns 18 for her marriage (the application can be made no earlier than one month before and no later than three months after the marriage), or on the account holder's death, or on extreme compassionate grounds such as a life-threatening illness. The account cannot be closed for any other reason before maturity.
Maturity: The account matures 21 years from the date of opening. If the account is not closed on maturity, the balance continues to earn the prevailing SSY interest rate until closure.

Source: SBI – Sukanya Samriddhi Yojana; tax treatment per Section 123 / Schedule XV, Income-tax Act, 2025