This Sukanya Samriddhi Yojana calculator shows how much a Sukanya Samriddhi account (SSY) can grow to by maturity. Enter how much you plan to deposit each year. The calculator uses the current SSY rate, with deposits for 15 years and maturity after 21 years. pincodeoffice.com is an independent site, not India Post. For official rules, see the India Post website.
How Sukanya Samriddhi Yojana in the post office works
India Post Sukanya Samriddhi Yojana accounts are run under a Government of India savings scheme for a girl child. Many people call it the post office Sukanya Yojana or simply Sukanya Yojana post office account. A parent or legal guardian opens the account in the girl's name. You can open it at a post office or at many banks. You deposit money for 15 years. The account then keeps earning interest until it matures 21 years after opening. Interest is added once a year, at the end of the financial year, so it compounds.
The SSY rate can change every quarter, and the whole balance earns the new rate. So the final amount may differ from this SSY calculator post office figure. Treat any post office SSY calculator result as a good estimate, not a promise. See the current rate on our post office schemes page.
Who can open a post office Sukanya Samriddhi account
- The girl must be below 10 years of age when the account is opened.
- Only one account per girl.
- A family can open accounts for up to two girls. Twins or triplets can allow a third account.
- The guardian runs the account until the girl turns 18.
Deposit limits and tenure
- Minimum: Rs 250 in a financial year.
- Maximum: Rs 1.5 lakh in a financial year, in multiples of Rs 50.
- How to pay: in one go or in parts, as many times as you like within the yearly limit.
- Deposit period: 15 years from the date of opening.
- Maturity: 21 years from the date of opening.
If you miss the minimum deposit in a year, the account becomes a defaulted account. You can revive it within the 15 year deposit period by paying the minimum for each missed year plus a fine of Rs 50 for each year.
Withdrawal and premature closure
- Partial withdrawal: once the girl turns 18 or passes class 10, you can withdraw up to 50% of the balance at the end of the last financial year. This is for her education. It can be taken in one go or in parts, once a year, for up to five years.
- Closure for marriage: the account can be closed when she marries after turning 18. The request is made from one month before to three months after the marriage.
- Closure on death: the account is closed and the balance paid to the guardian.
- Compassionate grounds: after 5 years, the account can be closed for a life threatening illness of the girl or the death of the guardian. In this case interest is paid at the savings account rate.
Tax benefits of SSY
SSY is one of the few schemes that is tax free at all three stages. Deposits qualify for a deduction under Section 80C (Section 123 under the new Income-tax Act), within the overall yearly limit of Rs 1.5 lakh. This deduction is available only under the old tax regime. The interest and the maturity amount are tax free.
Worked example: post office Sukanya Samriddhi Yojana monthly 1000
Many parents save Rs 1,000 a month. That is Rs 12,000 a year. Type 12000 in the calculator. You deposit Rs 1.8 lakh over 15 years, and the calculator shows the maturity value after 21 years at today's rate. Interest keeps growing for six more years after you stop paying, which is why the final amount is much larger than what you put in. For a post office Sukanya Samriddhi Yojana monthly 500 plan, type 6000. If you can save the full Rs 1.5 lakh a year, type 150000 to see the largest possible amount.
The calculator assumes the deposit is made at the start of each financial year and the rate stays the same for 21 years.
This post office Sukanya Samriddhi Yojana calculator works the same for bank accounts, because the rules and rate are the same. In short, it is a Sukanya calculator post office and bank savers can both use, apart from small rounding differences.
How to open a Sukanya Samriddhi account in the post office
- To open Sukanya Samriddhi Yojana post office accounts, visit your nearest post office. Find it with our pincode of my location tool and check the post office timings.
- Carry the girl's birth certificate, plus Aadhaar, PAN and photos of the guardian.
- Fill the account opening form and pay the first deposit.
- Collect the passbook. You can pay later deposits at the counter or online through a linked India Post Payments Bank account.
For a Sukanya Samriddhi account online check, post office customers can use post office internet banking or the IPPB app if your account is linked. Otherwise, update your passbook at the post office.