Calculate the maturity value of an SSY account for your daughter, currently offering 8.2% interest — the highest among all government-backed savings schemes.
You can deposit into an SSY account for the first 15 years from opening (minimum ₹250, maximum ₹1.5 lakh per year), and the account continues earning interest — compounded annually — for a full 21 years from opening, even after deposits stop. This calculator assumes the same yearly deposit for all 15 years and a constant interest rate, though SSY rates are revised quarterly by the government and will likely change over a 21-year horizon.
A parent or legal guardian can open an SSY account for a girl child below the age of 10. Only one account is allowed per girl child, and a family can open accounts for a maximum of two girl children (with exceptions for twins/triplets).
The account matures 21 years from the date of opening, or upon the girl's marriage after age 18, whichever is earlier. Deposits are required only for the first 15 years — the balance continues to earn interest for the remaining years even without further deposits.
Yes — SSY has EEE (Exempt-Exempt-Exempt) tax status. Contributions qualify for Section 80C deduction (up to ₹1.5 lakh), the interest earned is tax-free, and the maturity amount is also completely tax-free.