Sukanya Samriddhi Yojana Calculation: How much tax-free corpus can you create with Rs 90,000 annual investment for 15 years?

Sukanya Samriddhi Yojana is a government-backed small savings scheme aimed at securing the financial future of a girl child. It offers attractive interest rates, tax benefits, and guaranteed returns. The account can be opened in the name of a girl child below the age of 10 years, with a maximum of two accounts allowed per family (three in case of twins/triplets).

As of January 1, 2024, the SSY account offers an annual interest rate of 8.2%, compounded yearly. The Ministry of Finance revises this rate quarterly. The interest is credited to the account at the end of each financial year.

You can start an SSY account with a minimum deposit of Rs 250. The maximum permissible deposit is Rs 1.5 lakh per financial year, in multiples of Rs 50. Deposits can be made in a lump sum or in multiple instalments throughout the year.

Sukanya Samriddhi Yojana offers EEE tax benefit:

Exempt under Section 80C for deposits up to Rs 1.5 lakh/year. Exempt interest during the tenure. Exempt maturity amount. This makes SSY one of the most tax-efficient savings options for parents planning for their daughter's education or marriage.

Deposits can be made up to 15 years from the date of account opening. However, the account matures after 21 years, or earlier if the girl child gets married after 18 years of age (with proper documentation). No deposits are required during the last 6 years, yet the account continues to earn interest.

Partial withdrawal of up to 50% of the balance is allowed after the girl turns 18 years or passes 10th standard, whichever is earlier. Premature closure is permitted only under specific conditions such as:

Death of the account holder Life-threatening illness Death of the guardian

Until the girl turns 18, the account is operated by a parent or legal guardian. After that, she can manage it herself. Only one account per girl child is permitted across all banks and post offices.

If you invest Rs 90,000 every year for 15 years, here’s the expected tax-free corpus at maturity:

Total Investment: Rs 13,50,000 Total Interest Earned: Rs 28,06,547 Maturity Value After 21 Years: Rs 41,56,547 This demonstrates the power of compounding and tax-free growth under SSY, making it an ideal long-term savings option for your daughter’s future.