Find what a Sukanya Samriddhi account grows to. Deposits run for 15 years, the account matures at 21, and the balance keeps earning in between.
Who can open a Sukanya Samriddhi account?
A parent or legal guardian, for a girl who has not yet turned 10. A family can open at most two accounts, with an exception for twins or triplets. The account is in the girl’s name and she takes it over at 18.
How long do I have to deposit?
For 15 years from the date the account opens, not until she is 21. The account then sits for another six years earning interest before it matures. That gap is where a large share of the final amount is made.
What are the deposit limits?
At least ₹250 a year to keep the account active, and at most ₹1,50,000 a year across all accounts for the same girl. Miss the minimum and the account goes dormant until you pay a small penalty along with the arrears.
Can I take money out before maturity?
Up to half the balance once she turns 18 or passes class ten, for higher education or her marriage. The account can also be closed early after 18 for her marriage. Otherwise the money stays until the 21 year mark.
Is the interest taxable?
No. Sukanya Samriddhi is exempt-exempt-exempt: the deposit qualifies under section 80C in the old regime, the interest is exempt, and the maturity amount is exempt. That makes the headline rate worth more than the same rate on an FD.
Will the rate stay the same for 21 years?
Almost certainly not. The Ministry of Finance reviews small savings rates every quarter, and this account runs for 21 years. Treat the result as an illustration at today’s rate rather than a promise, and run it again at a lower rate to see the downside.
How does it compare with an equity SIP for the same goal?
SSY is guaranteed and tax free, an equity SIP is neither but has historically returned more over 15 years or longer. Many parents use SSY for the part of the goal they cannot risk and a SIP for the rest.