Calculate exact maturity amount for your daughter's SSY account. 8.2% interest rate — highest among all small savings schemes.
| Scheme | Interest Rate | Lock-in | Tax Status | Who Can Invest |
|---|---|---|---|---|
| Sukanya Samriddhi (SSY) | 8.2% | 21 years | EEE (triple tax-free) | Parents of girl child (0-10 yrs) |
| PPF | 7.1% | 15 years | EEE (triple tax-free) | All individuals |
| NSC | 7.7% | 5 years | ETE (interest taxable) | All individuals |
| Senior Citizen FD | 7.0–7.5% | 5 years | TDS applicable | Senior citizens only |
| ELSS (Mutual Fund) | 12–15% (estimated) | 3 years | LTCG tax after ₹1L | All individuals |
Sukanya Samriddhi Yojana (SSY) is a government-backed small savings scheme launched in 2015 under the Beti Bachao Beti Padhao initiative. It is designed to help parents secure their daughter's future — for education, marriage or any other purpose — with guaranteed tax-free returns.
Who can open: Natural/legal guardian of a girl child below 10 years of age.
How many accounts: Maximum 2 accounts — one for each daughter. Exception: twins/triplets in the second birth.
Minimum deposit: ₹250 per year (if you miss a year, ₹50 penalty).
Maximum deposit: ₹1,50,000 per year (qualifies for Section 80C).
Deposit period: 15 years from account opening date.
Maturity: 21 years from opening OR at daughter's marriage after age 18.
After the daughter turns 18 years old, you can withdraw up to 50% of the balance at the end of the previous financial year. This is useful for higher education expenses. Full closure is allowed after age 18 if she is getting married.
Visit any post office or authorized bank (SBI, HDFC, ICICI, PNB, BOB, Canara Bank etc.) with: daughter's birth certificate, parent's Aadhaar and PAN, passport photo, and initial deposit (minimum ₹250). Most banks now offer online SSY account opening.