SSY Calculation: If you are the father of a daughter and are concerned about her future, this news could be significant for you. The government currently runs the SSY (Sukanya Samriddhi Yojana) scheme for daughters, which is considered a highly reliable investment option. If you invest ₹1.5 lakh annually in your daughter’s name, you will have a fund of over ₹70 lakh ready by the time of maturity. This can help you manage responsibilities such as your daughter’s marriage and higher education. Let us explore the details.

What is the interest rate on the SSY scheme?
For your information, the government announces new interest rates for small savings schemes every quarter. Currently, no new announcement has been made by the government. At present, the scheme offers an interest rate of approximately 8.2%, which is significantly higher than that of bank fixed deposits (FDs). Additionally, it offers the benefit of compound interest, which accelerates the growth of the investment.

How ​​will a ₹70 lakh fund be created?
If you invest ₹1.5 lakh annually—or ₹12,500 per month—for 15 years, your total investment will amount to ₹22.5 lakh. Thanks to the power of compounding, the investment in the SSY scheme can grow to between ₹70 lakh and ₹72 lakh over 21 years. This means you can accumulate a substantial fund with a relatively modest investment.

Why is the Sukanya Samriddhi Yojana special?
The SSY scheme is specifically designed for daughters. It helps cover expenses related to their higher education and marriage. You can invest anywhere from a minimum of ₹250 to a maximum of ₹1.5 lakh per year in this scheme. The investment period is 15 years, and the scheme matures in 21 years. A partial withdrawal facility becomes available once the daughter turns 18. A key feature of this scheme is the government guarantee, which effectively eliminates risk.

Understanding the tax calculation:
Investments in the SSY scheme qualify for tax benefits under Section 80C; furthermore, the interest earned and the maturity proceeds are exempt from tax. This scheme is designed for parents who wish to accumulate a substantial corpus through small savings.
According to available information, the interest rate for this scheme was raised from 8% to 8.2% during the January–March quarter of 2024. Since then, the interest rate has remained unchanged across the last 10 reviews. If the rates remain unaltered this time as well, they will stay stable for the 11th consecutive quarter.