Sukanya Samriddhi Yojana calculator: Your daughter may have ₹72 lakh for her education; here’s how
Welcoming a baby daughter can mark the beginning of saving for her future. Sukanya Samriddhi Yojana offers a way to build money for education and other future needs. If you start at her birth, the account’s 21-year term aligns with her 21st birthday.
An annual investment of ₹1.5 lakh in SSY could grow to around ₹71.8 lakh. This estimate assumes an annual interest rate of 8.2% throughout the investment period. Your total contribution would be ₹22.5 lakh. The remaining ₹49.3 lakh would come from interest.
These figures imply annual contributions of ₹1.5 lakh for 15 years. The money then continues to grow over the remaining 6 years. Starting in 2026 would place maturity in 2047, after the full 21-year term.
However, ₹71.8 lakh is an estimate, rather than a guaranteed final payment for the Sukanya Samriddhi Yojana. The Ministry of Finance reviews the interest rate every quarter. Future changes could affect the amount your daughter eventually receives. The 8.2% annual rate applies to October through December 2026.
Interest is compounded yearly. This means interest becomes part of the balance used to calculate future interest. Over time, earnings themselves begin earning more money. In this example, the estimated interest exceeds around twice the total amount contributed.
You do not need to invest the maximum amount. Contributions can start at ₹250, with an annual maximum of ₹1.5 lakh. A smaller contribution would build a smaller final amount under otherwise similar assumptions. The final estimate, therefore, depends on both contributions and future interest rates.
For SSY, the annual maximum equals ₹12,500, divided into 12 equal monthly amounts. This comparison helps explain the yearly commitment involved. However, the ₹71.8 lakh estimate uses annual contributions, rather than a separate monthly calculation.
The scheme has government backing and offers tax benefits. Deposits qualify for an annual tax deduction of up to ₹1.5 lakh. Interest and maturity proceeds are also tax-exempt. These benefits are another feature of the scheme, in addition to its interest earnings.
Early withdrawal
There is also a provision for education expenses before maturity. Up to 50% can be withdrawn after age 18 for higher education. Using this facility would leave less money invested for the remaining years. Closure for marriage is also available after age 18.
The timing of opening the account matters when discussing your daughter’s age at maturity. The investment term runs for 21 years from the opening date.
Starting later would shift maturity beyond her 21st birthday. For a newborn, beginning now brings that timeline close to the age when she is likely to need that amount for education.
Disclaimer: SSY interest rates are revised quarterly by the government and are not fixed for the 21-year tenure; actual maturity amounts may vary.
