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Sukanyaa Samriddhi Yojana (SSY)
The Sukanya Samriddhi Yojana (SSY) is a government sponsored savings scheme for a girl child which offers 8.2% interest rate per annum which is also tax-free on maturity. Parents can open an account for a girl below 10 years of age. Contributions are made for 15 years, while the account matures after 21 years. Partial withdrawals are allowed for higher education while marriage-related closure is permitted under SSY rules. This helps parents build a long-term financial corpus for a daughter's future needs.

8.2%

CURRENT INTEREST RATE*

₹250

MINIMUM DEPOSIT

Save ₹1.5 Lacs

UNDER SECTION 80C (EEE)

Secure her Future in Just 60 Seconds Build her safety net, starting at just ₹250

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Sukanya Samriddhi Yojana Interest Rate FY 2026-27

The Sukanya Samriddhi Yojana interest rate is currently set at 8.2%, which can be revised by the government from time to time. The interest rate is higher than that of a regular FD, and it is not a market-linked scheme, such as a mutual fund, therefore, offering a more predictable return.
**Please note that once the duration of the scheme is completed or if the girl becomes a Non-Resident Indian (NRI) or a non-citizen, interest payments are no longer applicable.
Interest Rate History
The Table below shows how the Sukanya Samriddhi Yojana interest rate has changed over the last 10 years, based on historical data.
FINANCIAL YEAR Q1 (Apr-Jun) Q2 (Jul-Sep) Q3 (Oct-Dec) Q4 (Jan-Mar)
2026-27 8.2% 8.2% - -
2025-26 8.2% 8.2% 8.2% 8.2%
2024-25 8.2% 8.2% - -
2023-24 8.2% 8.2% 8.2% 8.2%
2022-23 8.2% 8.2% - -
2021-22 8.2% 8.2% 8.2% 8.2%
2020-21 8.2% 8.2% - -
2019-20 8.2% 8.2% 8.2% 8.2%
2018-19 8.2% 8.2% - -
2017-18 8.2% 8.2% 8.2% 8.2%
Note: The above rates are indicative as of 2 July 2026 and may vary among jewellers depending on making charges, purity, and local market conditions.

Sukanya Samriddhi Yojana (SSY) maturity amount

The table below highlights the maturity amount under Sukanya Samriddhi Yojana at 21 years for deposits ranging from ₹250 to the ₹1.5 lakh annual limit, with 15 years of deposits and 6 years of compounding.
Annual Deposit Total Invested (15 Years) Maturity Amount (at 21 Years) Interest Earned Return Multiple
₹250 (Minimum) ₹3,750 ₹11,970 ₹8,220 3.19x
₹12,500 ₹1,87,500 ₹5,98,510 ₹4,11,010 3.19x
₹50,000 ₹7,50,000 ₹23,94,040 ₹16,44,040 3.19x
₹1,00,000 ₹15,00,000 ₹47,88,079 ₹32,88,079 3.19x
★ Best Value
₹1,50,000 (Max) 		₹22,50,000 ₹71,82,119 ₹49,32,119 3.19x
Sukanya Samriddhi Yojana Interest Rate vs Other Savings Schemes
SSY currently offers an 8.2% interest rate. Let's compare the Sukanya Samriddhi Yojana interest rate with other savings options.
Scheme
Interest Rate
Tax on Interest
SSY
8.2%
Fully Tax Free
PPF
7.1%
Fully Tax Free
Fixed Deposit
6% - 7.5%
Taxable
Recurring Deposit
5% - 6.5%
Taxable
NSC
7.7%
Partly Tax Free
Post Office Savings
4%
Taxable
National Savings Certificate
4%
Taxable
See How Your Money Grows
Annual Deposit
₹
Your Daughter's Age
years
AT MATURITY (21 YEARS)
₹0
Maturity Amount
TOTAL INVESTED
₹22,50,000
INTEREST EARNED
₹49,32,119
Return Multiple
3.19x

Sukanya Samriddhi Yojana Eligibility: Who Can Open an Account?

The Sukanya Samriddhi Yojana has specific eligibility requirements set by the Government of India. Here's who can open an SSY account and the key conditions to meet.
Girl Child Eligibility
  • The girl child must be below 10 years of age at the time of account opening (from birth until the day before she turns 10 years old)
  • The girl must be a resident Indian at the time of opening the account
  • An account can be opened as early as the child's birth. In fact, the earlier you start, the better the compounding effect
  • The account is opened in the girl's name and will be managed by parents or guardians until she turns 18
Parent/Guardian Eligibility
  • Only the biological parent(s) or a court-appointed legal guardian can open an SSY account
  • Both parents cannot jointly open the account. It must be one parent or one guardian
  • The account can be operated and deposits made by any authorized person designated by the guardian
Resident Indian Requirement
  • The girl child must be a resident Indian at the time of account opening
  • Once opened, if the girl becomes a Non-Resident Indian (NRI), the account continues but earns interest at the post office savings rate (currently 4%) instead of the SSY rate
  • NRI parents cannot open a new SSY account for their daughter
Family Limit
  • A maximum of two SSY accounts can be opened per family, one for each daughter
  • Exception: If a family has twins or triplets in the first or second order of birth, a third account can be opened with proper documentation (medical certificates and birth certificates)
  • If the first birth itself results in twins/triplets, all accounts can be opened. However, if twins are born in the second order, no additional account for a third daughter can be opened

Sukanya Samriddhi Yojana Deposit Rules and Limits

Understand the Sukanya Samriddhi Yojana deposit limits, minimum contribution, and timelines for your SSY account.
Minimum and Maximum Deposit Limits
Deposit Rule
Detail
Minimum Annual Deposit
₹250 per financial year (April to March)
Maximum Annual Deposit
₹1.5 lakh per financial year
Deposit Multiples
Must be in multiples of ₹50
Deposit Frequency
Monthly, quarterly, half-yearly, lump sum, or any number of deposits in a year
If Below Minimum
Account classified as "under default"
Deposit Period
  • Deposits are mandatory for the first 15 years from the date of account opening.
  • The balance continues to earn interest at 8.2% p.a. until maturity (21 years).
  • Partial withdrawal (up to 50%) is allowed after the girl turns 18 for higher education.
Account under Default
If the minimum deposit of ₹250 is not made in a financial year, the account is treated as 'under default'. It can be regularized by paying a penalty of ₹50 per missed year along with the minimum deposit amount.

What Happens

If You Miss The Minimum Deposit?
If you fail to deposit at least ₹250 in a financial year,
your account becomes "Account under Default." Here's how to resolve it:
Penalty Structure & Regularization
  • ₹50 penalty per missed year
  • Must pay the minimum ₹250 deposit for the missed year
  • Can be regularized anytime before the 15-year deposit period ends
EXAMPLE:
If you open the account in April 2020 and miss deposits for FY 2021-22 and FY 2022-23 (2 years), you would need to pay:
• Missed year 1: ₹250 + ₹50 penalty = ₹300
• Missed year 2: ₹250 + ₹50 penalty = ₹300
Total regularization: ₹600
Interest continues to be credited on the balance even if the account is under default. The account doesn't close; it just stops being in good standing.
Maximum Deposit Rule
Any deposit exceeding ₹1.5 lakh in a financial year:
  • ✕ Will NOT earn interest
  • ✕ Will NOT be allowed as a deduction under Section 80C
  • ✕ Will be immediately refunded to the depositor
This is an important safeguard to prevent over-contributions.

SSY Maturity, Withdrawal & Closure Rules

Understanding the final stages and partial withdrawal options for your daughter's future.
Closure on Maturity
What Happens at 21 Years

The account reaches maturity exactly 21 years from the date of opening. At this stage, the account closes automatically, and the entire accumulated amount (principal + interest) is completely tax-free.

How to Get Your Money at 21

To claim the maturity amount, the account holder (daughter) needs to visit the post office or bank branch with the following:

  • Completed closure form
  • Original SSY Passbook
  • Identity Proof (Aadhaar, Voter ID)
  • Proof of Indian Citizenship
Educational Withdrawal at 18

When the daughter turns 18 and finishes Class 10, she can withdraw up to 50% of the balance for college or university fees.

REQUIRED DOCUMENTS
✓ Admission letter
✓ Fee receipt/structure
✓ Proof of age
✓ Completed Form-3
HIGHLIGHTED EXAMPLE:

If the balance is ₹15 lakh, she can withdraw up to ₹7.5 lakh after turning 18 or completing Class 10 for higher education expenses.

Premature Account Closure
Premature Closure For Marriage

You can close the account before 21 years if your daughter gets married (must be at least 18 years old).

  • Apply between 1 month before and 3 months after wedding
  • Full balance (principal + interest) is tax-free
  • Requires proof of age and marriage certificate/invitation
Closing In An Emergency

Early closure allowed in serious cases like death of daughter, life-threatening illness, or death of guardian.

  • NRI Status: Must close within 1 month if daughter becomes NRI
  • Payout: Full balance with all interest, tax-free
Closing After 5 Years

If the account has run for 5+ years and you have trouble keeping it going, you can close it with a valid reason.

WARNING: If Closed Before 5 Years (And Not An Emergency), Interest Drops To The Post Office Savings Rate (4% Per Year).

Sukanya Samriddhi Yojana Tax Benefits (EEE Status)

Below are the Sukanya Samriddhi Yojana benefits with respect to taxation:
Exempt-Exempt-Exempt (EEE Status)
SSY enjoys Exempt-Exempt-Exempt (EEE) tax status, the most favorable classification for any savings scheme in India. This means:
Exempt On Deposits (Section 80C)
  • Annual SSY deposits up to ₹1.5 lakh qualify for a tax deduction under Section 80C
  • If you deposit ₹1.5 lakh in SSY, you get a ₹1.5 lakh deduction from your taxable income
  • This applies per financial year, so in a high-income year, you can claim ₹1.5 lakh deduction
Exempt On Interest (Section 10)
  • All interest earned on SSY deposits is fully tax-exempt
  • Unlike fixed deposits where interest is added to your taxable income, SSY interest never shows up on your income tax return
  • This is significant over 21 years — you can earn ₹30-50 lakh in interest completely tax-free
Exempt On Maturity (Section 10(10D))
  • The final maturity amount (principal + all accumulated interest) is fully tax-exempt
  • You receive the entire amount without any TDS (Tax Deducted at Source)
  • This is true even if the maturity amount is several lakh rupees
TAX SAVING CALCULATION:
• If you're in the 30% income tax bracket and deposit ₹1.5 lakh in SSY
• Tax saving = ₹1.5 lakh x 30% = ₹45,000 per year
• Over 15 years of deposits, potential tax savings = ₹45,000 x 15 = ₹6,75,000
Interest On Sukanya Samriddhi Yojana Exempt Under Section (10) 11A
  • The interest on Sukanya Samriddhi Yojana is exempt under Section 10 11A of the Income Tax Act, 1961, which is the specific provision that makes the annual interest tax-free
  • Every year, the interest gets credited to the account and compounds, and not a single rupee of it is added to your taxable income because of Section 10 11A
  • The same section also covers the withdrawal amount, so both partial withdrawals (allowed after the girl turns 18 for education or marriage) and the full maturity payout stay tax free
  • To keep this benefit intact, you need to follow the scheme rules, such as opening the account before the girl child turns 10 and keeping deposits within the ₹1.5 lakh yearly cap
  • For example, if Meena opens an SSY account for her daughter and earns ₹6 lakh in interest over the tenure, that full ₹6 lakh is exempt under Section 10 11A, and she pays zero tax on it

Frequently Asked Questions

Between SSY and PPF, which one is better?

Both Sukanya Samriddhi Yojana and PPF are government-backed and long-term savings schemes. SSY offers a higher interest rate than PPF, i.e., 8.2%. However, PPF offers more flexibility and a shorter lock-in period in comparison to SSY.

Is there any possibility of transferring the Sukanya Samriddhi Yojana account from one bank to another?

As per the applicable policy of the scheme, an SSY account can be transferred to another bank/Post office which is authorised to accept deposits. The guardian typically must make a transfer request, provide information about the accounts and the necessary KYC documents at the old branch.

Can an SSY account be closed before maturity?

Yes, the premature closure of an SSY account is permitted in certain cases including the death of the girl child, due to medical emergency or for any reason of compassion on financial grounds. These closures are approved in line with appropriate government directives and documentation requirements.

Are parents allowed to open multiple Sukanya Samriddhi Yojana accounts?

One SSY account is usually opened for each eligible girl child per parent/legal guardian (up to 2 accounts per family). More than one account may be allowed for multiple births (twins, triplets).

Is there any required age limit for opening a Sukanya Samriddhi account?

Yes, there is. The SSY account can be opened only from the birth of the girl child to the date until the girl child reaches the age of 10 years. If the girl child has crossed the 10-year age, she will not be allowed to open the account. In that case, the family may consider other investment options available.

Can ₹10 lakh be deposited in the Sukanya Samriddhi Yojana?

₹10 lakh is not allowed to be put in the Sukanya Samriddhi Yojana account within a single financial year. A minimum of ₹250 and a maximum of ₹1.5 lakh per account is allowed to be invested under the scheme. Deposits higher than that limit are not permissible now under the Sukanya Samriddhi Yojana rules.

What are the demerits of the Sukanya Samriddhi Yojana scheme?

The long lock-in period and limited withdrawal conditions are likely to affect the flexibility of investment for some families with SSY. The scheme is also limited to girl children, and it has certain limits on contributions based on the government rules.
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