SSY

Full form: Sukanya Samriddhi Yojana

Savings & Deposits

SSY is a government savings scheme for girl children below age 10. Offers 8.2% interest (highest among 80C instruments), EEE tax status. Designed for girl child education and marriage expenses.

In detail

Minimum deposit Rs 250/year, maximum Rs 1.5L/year. Matures when girl turns 21. Partial withdrawal (50%) after age 18 for education. Rs 1.5L/year for 15 years at 8.2% = approximately Rs 71.82L at maturity -- completely tax-free.

Formula

Rs 1.5L/year deposited for 15 years, grows for 6 more years at 8.2% = approximately Rs 71.82L

Real-life example

🇮🇳 India example

Priya deposits Rs 1.5L/year from daughter's birth (2024) to 2039. Total invested: Rs 22.5L. Tax saved under 80C: approximately Rs 2.7L at 20% bracket. Maturity in 2045: approximately Rs 72L tax-free.

Frequently asked questions

SSY vs PPF for girl child? ▼

SSY is better: 8.2% vs PPF 7.1%, EEE status same. If daughter is eligible, SSY is the first choice for her education corpus.