SSY Calculator

Premature closure allowed only for marriage after age 18, or extreme cases like life-threatening disease. Normal closure is not permitted.

Minimum annual deposit of 250 is required. Missed deposits can be regularized with a penalty of 50 per year of default.

Yes, up to two accounts for two girl children. For twins or triplets, account for each child.

The account matures at 21 years or upon marriage after 18, whichever is earlier. The proceeds can be used for any purpose, including higher education, marriage, or starting a business. There is no restriction on how the maturity amount is used.

SSY accounts can be transferred anywhere in India through the post office network. If the family moves to a different city, the account can be transferred to the nearest post office without any change in terms or benefits.

Depositing the maximum Rs 1.5 lakh annually for a girl child aged 1 at 8.2% interest, the maturity amount after 21 years would be approximately Rs 82-85 lakhs. Total deposits would be Rs 18 lakhs, and interest earned would be around Rs 64-67 lakhs.

Yes, you can vary the annual deposit between Rs 250 and Rs 1.5 lakh in different financial years. It is advisable to deposit the maximum amount every year to maximize the corpus. However, once deposited, you cannot withdraw excess amounts.

The SSY account can be closed upon the girl's marriage after she turns 18, and the proceeds are paid to her. This is one of the few cases where premature closure is allowed without penalty. The full accumulated corpus becomes available.

No, the SSY interest rate is reviewed quarterly by the government and can change. However, once deposited, your contribution earns the prevailing rate for that financial year. Rates have ranged from 7.6% to 8.6% in recent years.

No, NRIs are not eligible to open SSY accounts. However, if a resident Indian opens an SSY account and later becomes an NRI, the account can continue until maturity. Deposits must be made from a resident Indian account.