Sukanya Samriddhi Yojana (SSY) Calculator
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Total Interest Earned: ₹0
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What is Sukanya Samriddhi Yojana (SSY)?
Sukanya Samriddhi Yojana (SSY) is a Government of India small savings scheme launched under the Beti Bachao Beti Padhao campaign. The scheme is specially designed for the financial future of girl children and helps parents build a corpus for education and marriage expenses.
Key Features
- Account can be opened for a girl child below 10 years of age.
- Minimum deposit: ₹250 per financial year.
- Maximum deposit: ₹1.5 lakh per financial year.
- Deposits are required only for 15 years.
- The account matures after 21 years from opening.
- Interest is compounded annually.
- Partial withdrawal is allowed for higher education after age 18.
- The scheme enjoys EEE tax benefits.
Who Can Open the Account?
Parents or legal guardians can open the account in the name of a girl child. A maximum of two girl child accounts can generally be opened per family.
Tax Benefits
- Investment qualifies for deduction under Section 80C.
- Interest earned is tax-free.
- Maturity amount is completely tax-free.
Why Invest in SSY?
- Government-backed and low-risk investment.
- Higher interest rate compared to many traditional savings options.
- Helps create a dedicated corpus for a daughter's future education and marriage.
- Long-term wealth creation through annual compounding.