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Bank of Baroda Sukanya Samriddhi Yojana (SSY)

Bank of Baroda Sukanya Samriddhi Yojana is a small savings scheme for an eligible girl child, by the parents/guardians in the long term. The account currently provides an interest rate of 8.2 % p.a. and a deposit amount from ₹250 to ₹1.5 lakh per financial year. 

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Features of Bank of Baroda Sukanya Samriddhi Yojana

Here are the key Sukanya Samriddhi Yojana details for Bank of Baroda account:
Eligibility
An account can be opened in the name of an eligible resident girl child through her parent/legal guardian, subject to the prescribed conditions of the scheme.
Age Criteria
The account can be opened before the girl child attains the age of 10 years, subject to valid date of birth proof.
Who Can Open
The parent or legal guardian can open one account per eligible girl child subject to scheme rules.
Where to Open
SSY accounts can be opened at authorised Bank of Baroda branches by visiting the bank branch and completing the account opening process.
Tenure
The account matures after 21 years, but deposits are generally required for the first 15 years.
Deposits
The deposit amount ranges from ₹250 to ₹1.5 lakh a year and need not be paid monthly. The BOB Sukanya Samriddhi Yojana calculator can be used for planning your contribution.
Partial Withdrawal
50% of the eligible balance can be withdrawn for education subject to prescribed conditions.
Account Continuity
A minimum annual deposit of ₹250 is required; defaults can generally be regularised by paying the minimum required deposit along with the applicable default fee.
Other Highlights
SSY offers 8.2% annual interest, revised periodically by the Government.
Under old tax rules, SSY deposits up to ₹1.5 lakh qualify under 80C.
You may deposit ₹250 to ₹1.5 lakh yearly, based on convenience.

Bank of Baroda Sukanya Samriddhi Yojana Interest Rate Historical Data

The Sukanya Samriddhi Yojana interest rate is notified by the Government of India and can change periodically. The table shows quarterly rates.

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% 8.2% 8.2%
2023-24 8.0% 8.0% 8.0% 8.2%
2022-23 7.6% 7.6% 7.6% 7.6%
2021-22 7.6% 7.6% 7.6% 7.6%
2020-21 7.6% 7.6% 7.6% 7.6%
2019-20 8.5% 8.4% 8.4% 8.4%
2018-19 8.1% 8.1% 8.5% 8.5%
The historical data is based on the National Savings Institute's official SSY rate history.

What Are the Benefits of the Bank of Baroda SSY Account?

The scheme offers structured savings, applicable tax benefits and also interest earnings.
Benefits Component
Details
Government-Notified Interest Rate
The Sukanya Samriddhi Account currently offers an interest rate of 8.2% per annum. The rate is notified by the Government of India quarterly.
Easy Relocation
A Sukanya Samriddhi Account can generally be transferred from one authorised bank or post office to another, subject to the applicable transfer procedure and scheme requirements.
Easy to Open
The account can be opened by an eligible parent/legal guardian by submitting an application along with the supporting documents such as the birth certificate of the girl child and the relevant KYC documents.
Tax Benefits
Eligible contributions may also be eligible for tax benefits under Section 80C up to ₹1.5 lakh under the old tax regime, subject to the provisions applicable and the tax regime opted by the taxpayer.
Compound Interest
The interest earned is compounded annually and credited to the account at the end of each financial year which helps the savings grow over a long period of time.
Affordable Contribution
The scheme is available to families with various budgets, with a minimum annual contribution of ₹250 and a maximum annual contribution of ₹1.5 lakh.

Bank of Baroda confirms the 8.2% rate, ₹250 minimum contribution and 15-year deposit period on its official product page.

Documents Required to Open a Bank of Baroda Sukanya Samriddhi Account

The following documents are generally required to open a Sukanya Samriddhi account through Bank of Baroda.
  • Aadhaar or other accepted KYC proof of the parent/legal guardian.
  • PAN or Form 60, if applicable, as per the bank's KYC criteria.
  • Girl child's birth certificate as proof of date of birth.
  • Recent photographs of the girl child and parent or legal guardian, where required.
  • Completed Sukanya Samriddhi Account opening/application form.
  • Additional documents may be required in specific cases such as claiming the twin or triplet exception under SSY rules.
Documentation may vary by applicant and current KYC requirements. Confirm the checklist with the bank before applying.

How to Open a Bank of Baroda Sukanya Samriddhi Yojana Account?

To open any Sukanya Samriddhi Account in any branch of Bank of Baroda, follow these steps:
1
Go to the branch
Visit any Bank of Baroda branch where SSY account services are available with relevant documents.
2
Fill out the form
Provide the girl child’s and guardian’s details in the Sukanya Samriddhi Account opening form. Provide nominee details while completing the account opening process as per the scheme requirements.
3
Document submission
Provide the girl child’s birth certificate and required KYC documents of the guardian.
4
Deposit the amount
Make the initial deposit of a minimum amount of ₹250 (as applicable).
5
Account Information
After verification, get account details/passbook.

How Sukanya Samriddhi Yojana Interest Compares to Other Schemes

Sukanya Samriddhi Yojana currently offers an interest rate of 8.2% per annum. If you are asking which bank is best for Sukanya Samriddhi Yojana, remember that the core scheme rate is government-notified, regardless of the authorised bank.
Scheme
Interest Rate
Tax Treatment
Sukanya Samriddhi Yojana
8.2%
Tax exempt
Public Provident Fund
7.1%
Tax exempt
Bank Fixed Deposit
Varies
Interest generally taxable
Recurring Deposit
Varies
Interest generally taxable
National Savings Certificate
7.7%
Taxable, with deductions
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
Wrapping It Up
The Bank of Baroda Sukanya Samriddhi Yojana is a long-term savings option for parents who have planned for their daughter’s future. The Sukanya Samriddhi Yojana Bank of Baroda option offers a government-notified rate of interest with structured long-term savings and applicable tax benefits. Families can review the scheme rules, documents and account opening requirements before opting for this savings option.

FAQs

On which day of the month is interest calculated for a Sukanya Samriddhi account?

Interest for a Sukanya Samriddhi account is calculated on the lowest balance held between the fifth day and the end of each calendar month. To maximise the interest earned in any given month, all deposits should be credited to the post office account on or before the fifth day.

What happens if I deposit more than ₹1.5 lakh in a Bank of Baroda Sukanya Samriddhi account in one year?

Any deposit exceeding the annual ceiling of ₹1.5 lakh in a financial year will not earn interest. The post office system flags the excess amount and automatically refunds the surplus money back to the depositor's bank account without imposing any financial penalty or administrative fee.

Is interest earned on a Sukanya Samriddhi account tax-free under the New Tax Regime?

Yes, interest earned on a Sukanya Samriddhi account remains completely tax-free under both the Old Tax Regime and the New Tax Regime. Whilst upfront contribution deductions under Section 123 of the Income Tax Act, 2025, require the Old Tax Regime, annual interest credits and final maturity proceeds are exempt under both.

Can a Sukanya Samriddhi account be closed prematurely if the account holder gets married?

Yes, premature closure is permitted for the account holder's marriage after she reaches 18 years of age. An application must be submitted along with age proof between one month before and three months after the wedding date. Premature closure for marriage is not allowed before the account holder attains age 18.

At what age can the girl child independently operate her Sukanya Samriddhi account?

The girl child can take over full operational control of her Sukanya Samriddhi account upon attaining 18 years of age. She must present her updated identity documents and specimen signature at the post office to officially transfer administrative authority from the guardian to herself.

What happens to a Sukanya Samriddhi account if the operating guardian passes away?

If the primary guardian passes away, another surviving parent or court-appointed legal guardian can assume control of the account by providing the death certificate and updated identity documents. Alternatively, if continuation causes severe financial hardship, the account may be considered for premature closure under regulatory rules.

Can I transfer my Sukanya Samriddhi Yojana account to Bank of Baroda?

Yes, SSY can be transferred from one bank/authorised post office to another, through appropriate procedures and documents.
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