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Sukanya Samriddhi Yojana is a government-backed savings scheme created specifically for a girl child, launched under the Beti Bachao Beti Padhao initiative. It currently pays 8.2% per annum — among the highest rates of any government small-savings scheme. Deposits up to ₹1.5 lakh qualify for the Section 80C deduction under the old tax regime (the default new regime generally does not provide this deduction), and the interest earned and final maturity amount are tax-exempt under applicable rules.
This is the part most people get wrong. You deposit into an SSY account for only the first 15 years from opening. After that, you stop depositing entirely — but the account is not closed. The accumulated balance keeps earning interest for another six years until the account matures 21 years after opening. That final untouched stretch is where a large share of the growth actually happens.
Depositing ₹1,50,000 every year at 8.2% p.a., starting when the girl is 5 years old:
You deposit a total of ₹22,50,000 across 15 years. The account then compounds untouched for a further 6 years, maturing when she is 26 — at roughly ₹71.8 lakh, entirely tax-free. Note that more than double your deposits comes from interest alone.
Partial withdrawal of up to 50% of the previous year's closing balance is permitted once the girl turns 18, intended for higher education. The account can also be closed early on marriage after she turns 18. Otherwise the full amount is paid out at maturity, 21 years after opening.
SSY currently pays a higher rate (8.2% vs 7.1%), and both offer tax-exempt interest and maturity along with a Section 80C deduction on contributions under the old regime. However, SSY money is locked to her and to specific milestones, while PPF is more flexible and available regardless of the child's gender. Many families use both.
The account becomes dormant. You can revive it by paying a ₹50 penalty per defaulted year along with the minimum ₹250 deposit for each of those years. The interest already earned is not forfeited.
No. The government reviews small-savings rates every quarter, so the actual rate will vary over the account's life. This calculator applies whatever single rate you set across the full period, so it is best used as an estimate — try a lower rate to see a more conservative outcome.
