What is the SSY Calculator?
The Sukanya Samriddhi Yojana (SSY) Calculator helps a parent or guardian estimate the maturity value of annual contributions to an eligible girl child's account. SSY is a Government of India small-savings scheme with a 15-year contribution period and a 21-year maturity period under the scheme rules modeled here.
The editable default is 8.2% p.a., the government-notified rate for Q3 FY 2026-27 (1 October–31 December 2026). The calculator holds the entered rate constant for illustration. Government-notified SSY rates may change in future quarters.
The calculator is an annual planning projection, not an account statement. It does not collect account-opening dates or deposit dates, and tax treatment can change; check the current scheme and Income Tax rules for your circumstances.
How does it work?
The calculator starts with the existing balance entered, adds the annual contribution at the beginning of each modeled year for up to 15 years, and then applies the entered annual rate. It continues projecting the accumulated balance through the selected horizon, which defaults to the 21-year scheme period. No new contribution is modeled after year 15.
The inputs are annual contribution, existing balance, projection horizon and an editable interest-rate assumption. The official default is 8.2% p.a. for Q3 FY 2026-27 (1 October–31 December 2026), but this is not a rate fixed for the full projection horizon.
The calculator holds the entered rate constant for illustration. Government-notified SSY rates may change in future quarters, and the annual model does not reproduce monthly balance or deposit-date rules from an account statement.
Worked example
Using the calculator's constant 8.2% planning assumption, an annual contribution of ₹1,50,000 for the first 15 years of a 21-year projection produces an estimated maturity value of ₹71,82,119 from total modeled contributions of ₹22,50,000.
At ₹50,000 per year under the same constant-rate illustration, the estimated maturity value is ₹23,94,040 from total modeled contributions of ₹7,50,000. These are calculator outputs, not promised account values. Government-notified rates may change during the account tenure.
When to use this calculator
- 1When you want an annual illustration for an eligible girl child's SSY account.
- 2When you want to compare different annual contribution amounts within the scheme limits.
- 3When you want to see how the 15-year contribution window interacts with the 21-year projection horizon.
- 4When a newly notified rate is available and you want to update the editable rate assumption.
- 5When you want to compare an existing balance plus future annual contributions with contributions alone.
Common mistakes to avoid
- ✕Treating the displayed rate as permanent: the calculator holds the entered rate constant, but government-notified SSY rates can change in future quarters.
- ✕Reading the result as an account statement: this model uses annual contributions and annual compounding, not actual deposit dates or monthly account balances.
- ✕Assuming the 15-year contribution window is the maturity date: the modeled scheme horizon is 21 years.
- ✕Treating the maximum annual contribution as a recommendation: the appropriate contribution depends on household cash flow, liquidity needs and other goals.
- ✕Assuming current tax treatment will remain unchanged: check the rules that apply to your circumstances and contribution year.
Frequently asked questions
- What SSY interest rate does this calculator use?
- The editable default is 8.2% p.a., the government-notified rate for Q3 FY 2026-27 (1 October–31 December 2026). The calculator holds the entered rate constant for illustration. Government-notified SSY rates may change in future quarters, so check the latest Department of Economic Affairs notification.
- Can I open more than one SSY account for my daughter?
- No. Only one SSY account is permitted per girl child. A family can open a maximum of two SSY accounts — one for each of two daughters. An exception exists for twins or triplets born in the second birth: if the second birth results in twin or triplet girls, a third account is permitted with documentary proof. Opening duplicate accounts is illegal, and if discovered, the second account is regularised as a normal savings account earning post-office savings rates.
- What happens to the SSY account if I miss a deposit in a particular year?
- If you fail to deposit at least ₹250 in any financial year, your SSY account becomes 'irregular' or 'defaulted'. You can revive the account by paying the outstanding minimum deposits for each missed year along with a penalty of ₹50 per year of default. This revival must be done before the 15-year deposit window closes. Interest continues to accrue on the existing balance even on a defaulted account, but you lose the benefit of fresh deposits compounding over the remaining tenure.
- Can I withdraw from SSY before maturity for my daughter's college education?
- Yes. A partial withdrawal of up to 50% of the balance as of the end of the previous financial year is permitted once the girl child turns 18, specifically for the purpose of higher education. You must submit proof of admission to a recognised institution (offer letter or fee receipt). This partial withdrawal does not close the account; the remaining balance continues to earn interest until full maturity at 21 years. Full premature closure is only allowed for marriage (after age 18) or specific compassionate grounds like the account holder's death or a life-threatening illness.
- How does SSY differ from a mutual fund SIP?
- SSY is a Government of India small-savings scheme with eligibility rules, annual contribution limits, a long scheme tenure and an interest rate notified periodically by the government. An equity mutual fund SIP is market-linked, has no fixed future return and can rise or fall in value. They address different planning needs. Any mix depends on time horizon, liquidity needs, risk tolerance, tax circumstances and other household goals.