Sukanya Samriddhi Yojana is a government-backed saving scheme for the girl child. Calculate maturity value based on current interest rates.
Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme launched as part of the "Beti Bachao, Beti Padhao" campaign. It is designed to encourage parents to build a fund for the future education and marriage expenses of their female children.
Interest in SSY is compounded annually. Investment is done for 15 years, but the account earns interest for 21 years total (or until marriage after age 18).
If you invest ₹1.5 Lakh every year for 15 years from the birth of your daughter (Age 0), your total investment will be ₹22.5 Lakhs. At an interest rate of 8.2% p.a., the maturity value after 21 years will be approximately ₹69.8 Lakhs.
Parents or legal guardians of a girl child can open the account until she reaches the age of 10. Only two accounts per family are allowed (exceptions for twins/triplets).
Partial withdrawal of up to 50% of the balance is allowed for the purpose of the girl child's higher education once she reaches 18 years of age or passes class 10th.