Calculate maturity amount for Sukanya Samriddhi Yojana (SSY) based on current 8.2% interest rate.
SSY account can only be opened for girls under 10 years of age.
SSY is a government-backed savings scheme targeted at the parents of girl children. It encourages parents to build a fund for the future education and marriage expenses for their female child.
The minimum annual deposit is ₹250 and the maximum is ₹1.5 Lakhs in a financial year.
Deposits need to be made for 15 years from the date of account opening. The account matures after 21 years.
Yes, SSY comes under the EEE (Exempt-Exempt-Exempt) status. The investment, the interest earned, and the maturity amount are all completely tax-free.