The interest rate and deposit rules below reflect the official quarterly notification from the Ministry of Finance (Q2, FY 2026–27) and India Post’s published scheme terms. Because interest rates are revised every quarter, always check the current rate on the official India Post site before making a fresh deposit decision.
| Parameter | Details |
|---|---|
| Full Scheme Name | Sukanya Samriddhi Yojana (SSY) / Sukanya Samriddhi Account |
| Launched On | 22 January 2015, in Panipat, Haryana |
| Launched Under | Beti Bachao, Beti Padhao campaign |
| Launched By | Prime Minister Narendra Modi |
| Who Can Open | Parent/legal guardian, for a girl child below 10 years |
| Current Interest Rate (Q2, FY 2026–27) | 8.2% per annum, compounded annually |
| Minimum Annual Deposit | ₹250 |
| Maximum Annual Deposit | ₹1,50,000 |
| Deposit Tenure | 15 years from account opening |
| Account Maturity | 21 years from account opening (or on marriage after 18) |
| Tax Status | EEE (Exempt-Exempt-Exempt) |
| Total Accounts (approx.) | Over 4 crore nationwide |
| Where to Open | Post offices and authorised commercial banks |
Table of Contents
- What Is Sukanya Samriddhi Yojana?
- Objectives of the Scheme
- Key Features & Benefits
- Interest Rate History
- How Your Money Grows: Illustration
- Eligibility Criteria
- Documents Required
- How to Open an SSY Account
- Withdrawal & Premature Closure Rules
- Common Mistakes to Avoid
- Pros & Cons
- Frequently Asked Questions
- Quick Links
What Is Sukanya Samriddhi Yojana?
Sukanya Samriddhi Yojana is a long-term, government-backed savings scheme created specifically for the parents or guardians of a girl child, to help build a financial cushion for her future education and marriage expenses. It was launched as part of the wider Beti Bachao, Beti Padhao (“Save the Daughter, Educate the Daughter”) initiative, which aims to address gender-based discrimination and improve outcomes for girls across India.
Unlike many market-linked investment products, SSY is a fixed, government-guaranteed return scheme — meaning the interest rate is set every quarter by the Ministry of Finance, and your principal is never at market risk. It is one of the highest-interest small savings schemes currently available in India, consistently outperforming the Public Provident Fund (PPF) and most bank fixed deposits.
Objectives of the Scheme
- Encourage long-term savings specifically earmarked for a girl child’s future
- Support the broader Beti Bachao, Beti Padhao mission of valuing and investing in daughters
- Provide families with a safe, guaranteed-return investment option, free of market risk
- Offer triple tax benefits (deposit, interest, and maturity all tax-free) to maximise the effective return
- Build financial discipline through small, regular annual deposits starting from just ₹250
Key Features & Benefits
| Feature | Detail |
|---|---|
| Interest rate | 8.2% per annum (Q2, FY 2026–27), reviewed quarterly by the Ministry of Finance |
| Compounding | Annual |
| Minimum deposit | ₹250 per financial year |
| Maximum deposit | ₹1,50,000 per financial year |
| Deposit period | 15 years from the date of account opening |
| Account maturity | 21 years from account opening, or upon the girl’s marriage after she turns 18 (whichever is earlier) |
| Tax benefit on deposit | Deduction under Section 80C, up to ₹1.5 lakh per year |
| Tax on interest earned | Fully exempt |
| Tax on maturity amount | Fully exempt |
| Partial withdrawal | Allowed after the girl turns 18, for higher education or marriage, subject to conditions |
| Number of accounts per girl | Only one |
| Number of accounts per family | Maximum two (three in the case of twins/triplets as the second birth) |
| Where to open | Any post office branch or authorised bank (e.g., SBI, most major PSU and several private banks) |
Interest Rate History
SSY rates are reviewed every quarter, based on government securities (G-Sec) yields. Here’s how the rate has moved since launch:
| Financial Year / Quarter | Interest Rate |
|---|---|
| FY 2014–15 (launch) | 9.1% |
| FY 2015–16 | 9.2% |
| FY 2019–20 | 8.4% |
| FY 2020–21 | 7.6% |
| FY 2021–22 | 7.6% |
| FY 2022–23 | 7.6% |
| FY 2023–24 (from Oct 2023) | 8.2% |
| FY 2024–25 | 8.2% |
| FY 2025–26 | 8.2% |
| FY 2026–27 (Q1 & Q2, current) | 8.2% |
💡 Note: SSY has offered 8% or higher returns in 7 of the last 10+ years since launch, consistently ahead of PPF (currently 7.1%) and most bank fixed deposits.
SSY 2026: मैच्योरिटी कैलकुलेटर (15 साल जमा + 6 साल होल्डing = 21 साल)
How Your Money Grows: Illustration
The table below is an illustrative estimate only, assuming the current 8.2% rate stays constant for the full tenure (in reality, the rate is revised quarterly and will vary over 21 years).
| Monthly Deposit | Annual Deposit | Total Deposited (15 years) | Approx. Maturity Value (21 years, at 8.2%) |
|---|---|---|---|
| ₹1,000 | ₹12,000 | ₹1,80,000 | ~₹5.5 lakh |
| ₹5,000 | ₹60,000 | ₹9,00,000 | ~₹27–28 lakh |
| ₹12,500 (max) | ₹1,50,000 | ₹22,50,000 | ~₹69–70 lakh |
Eligibility Criteria
| Criterion | Requirement |
|---|---|
| Age of girl child | Below 10 years at the time of account opening |
| Who can open the account | Natural or legal guardian/parent of the girl child |
| Residency | Girl child must be a resident Indian at the time of account opening |
| Accounts per girl | Only one SSY account allowed per girl child |
| Accounts per family | Maximum of two daughters (relaxation for twins/triplets in the second delivery) |
| Grandparents | Can open the account only if legally recognised as the guardian |
Documents Required
- Girl child's birth certificate
- Identity proof of parent/guardian (Aadhaar, PAN, Voter ID, Passport, etc.)
- Address proof of parent/guardian
- Passport-size photographs of the girl child and the guardian
- Initial deposit amount (minimum ₹250)
- SSY account opening form (Form SSA-1), available at the post office/bank
How to Open an SSY Account
| Step | Action |
|---|---|
| 1 | Visit your nearest post office or an authorised bank branch |
| 2 | Collect and fill the SSY Account Opening Form (Form SSA-1) |
| 3 | Attach the girl child's birth certificate and guardian's KYC documents |
| 4 | Deposit the minimum opening amount (₹250 or more) |
| 5 | Receive the passbook confirming account details |
| 6 | Continue making deposits (minimum ₹250/year) for 15 years to keep the account active |
Note: SSY accounts cannot be opened fully online due to KYC and physical documentation requirements, but once opened, deposits and balance checks can often be managed via net banking or the India Post Payments Bank (IPPB) app, depending on your bank/post office.
Withdrawal & Premature Closure Rules
- Partial withdrawal: Up to 50% of the balance (as of the end of the preceding financial year) can be withdrawn once the girl turns 18, for higher education or marriage expenses.
- Premature closure: Permitted in specific cases — death of the account holder, a life-threatening medical condition of the account holder, or the girl's marriage after she turns 18 (with documentation).
- Non-deposit penalty: If the minimum ₹250 annual deposit is missed, the account becomes "discontinued" but can be revived by paying the shortfall plus a small penalty.
Common Mistakes to Avoid
- Missing the annual minimum deposit: Even ₹250/year keeps the account active — missing it invites a penalty on revival.
- Assuming a fixed 8.2% for the full 21 years: The rate is revised quarterly; long-term projections are estimates, not guarantees.
- Opening multiple accounts for the same girl: Only one account per girl child is allowed under the rules.
- Depositing after the 5th of the month expecting full monthly interest: Interest is calculated on the lowest balance between the 5th and last day of the month — deposit early in the month to maximise interest.
- Forgetting to claim the Section 80C deduction: Many parents forget to declare SSY deposits while filing income tax returns.
Pros & Cons
| Pros | Cons |
|---|---|
| One of the highest interest rates among small savings schemes | 21-year maturity period is a long lock-in |
| Fully tax-free (EEE) — deposit, interest, and maturity | Account must be opened before the girl turns 10 |
| Government-backed, zero default/market risk | Rate is variable and reviewed quarterly, not fixed |
| Low minimum deposit of just ₹250/year | Maximum of two accounts per family (with limited exceptions) |
| Encourages disciplined, long-term savings habit | Full online account opening not yet available |
Frequently Asked Questions
Q1. What is the current SSY interest rate?
8.2% per annum, compounded annually, for the July–September 2026 quarter (unchanged since April 2024).
Q2. Can I open an SSY account for a girl older than 10?
No — the account must be opened before the girl turns 10 years old.
Q3. What happens if I don't deposit the minimum amount in a year?
The account is marked "discontinued" but can be revived by paying the missed instalments along with a small penalty, as per current rules.
Q4. Can I open an SSY account fully online?
Not entirely — physical KYC verification at a post office or bank is required to open the account. Some banks allow you to manage deposits online afterward.
Q5. Is SSY better than PPF?
SSY currently offers a higher interest rate (8.2%) than PPF (7.1%), but SSY is restricted to a girl child and has different withdrawal rules — the "better" choice depends on your specific goals.
Q6. Can grandparents open an SSY account?
Only if they are the legally recognised guardian of the girl child; otherwise, only a parent or appointed legal guardian can open the account.
Quick Links
| Resource | Link |
|---|---|
| 📝 Application Form / Open Account | Click Here |
| 🌐 Official India Post SSY Page | Click Here |
| 📊 Check Interest Rate Updates | Click Here |
| 🗂️ Other Government Yojana Info | Click Here |
| 🏠 National Government Home Page (India.gov.in) | Click Here |
Hi
yes