Sukanya Samriddhi Yojana: the best scheme for your daughter's future
Launched in 2015 under the Beti Bachao, Beti Padhao campaign, SSY offers the highest interest rate among all small savings schemes (8.2%), a government guarantee, and complete tax exemption — making it the most compelling long-term savings tool for girl children.
Why SSY beats most alternatives
| Feature | SSY | PPF | Bank FD (5yr) |
|---|---|---|---|
| Interest rate | 8.2% p.a. | 7.1% p.a. | 6.5–7.5% |
| Compounding | Annual | Annual | Annual |
| Tax on interest | Exempt (EEE) | Exempt (EEE) | Taxable (slab) |
| Lock-in | 21 years / marriage at 18 | 15 years | 5 years |
| 80C eligible | ₹1.5L | ₹1.5L | ₹1.5L |
| Government guarantee | Yes | Yes | Up to ₹5L (DICGC) |
The deposit structure: 15 years in, 21 years out
You deposit for only 15 years from account opening. The account then continues for another 6 years earning interest (at 8.2%) without any further deposits. This compounding tail can significantly grow the corpus.
Example: ₹1 lakh/year deposited for 15 years at 8.2%:
- Total deposited: ₹15 lakh
- Maturity value at 21 years: ~₹65 lakh (fully tax-free)
Use the calculator above with a 21-year period to estimate this. Note: the CI calculator assumes annual contributions throughout — actual SSY deposits are for 15 years only, so the calculator gives a slightly higher estimate. For precision, reduce the tenure to 15 years and add 6 years of compounding manually.
Who can open an SSY account?
- Parents or legal guardian of a girl child below 10 years
- Maximum 2 accounts per family (one per girl child), with an exception for twins/triplets
- Account must be opened at a post office or authorised bank
- KYC: girl's birth certificate + parent's PAN and Aadhaar