Sukanya Samriddhi
SSY maturity for a girl child
Worked example
Using the default values, sukanya samriddhi gives a maturity value of ₹71,82,119.
| Item | Value |
|---|---|
| Yearly deposit | ₹1,50,000 |
| Deposits for | 15 years |
| Account matures in | 21 years |
| Daughter will be | 26 years old |
| Rate | 8.2% a year |
| Growth multiple | 3.19× |
| Tax on maturity | None — exempt at all three stages |
What you need
- Yearly deposit
- Interest rate
- Age when the account opens
Questions
How many accounts can I open?
One per girl child, and a maximum of two per family — three where the second birth produces twins or a triplet birth is the first.
What if I miss a year?
The account becomes dormant and is revived by paying ₹250 for each missed year plus a ₹50 penalty per year. The interest already earned is not lost.
Important
The account can be opened until the girl turns ten, deposits run for 15 years, and it matures 21 years from opening. The annual ceiling is ₹1.5 lakh across all accounts for that child. Half the balance may be withdrawn for higher education once she turns 18, and the account can be closed on marriage after 18. It currently pays the highest rate of any small savings scheme.