Bank of India Sukanya Samriddhi Yojana Details 2026

Bank of India Sukanya Samriddhi Yojana Interest Rates 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%	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%

What are the Benefits of the Bank of India SSY Account?

Below are the key benefits of the Bank of India Sukanya Samriddhi Account:

Benefits Component

Details

Government-backed Scheme

SSY is a Government of India small-savings scheme. Its rules and interest rates are prescribed by the Government rather than individual banks.

Long-term Savings

The 21-year maturity period gives families a long time horizon to build funds for the girl child's future requirements.

Flexible Deposits

Parents do not have to deposit a fixed monthly amount. Contributions can vary from year to year within the scheme limits.

Annual Compounding

Interest is compounded annually, allowing returns credited in earlier years to contribute to future growth.

Tax Benefits

Eligible contributions can qualify up to ₹1.5 lakh for a deduction under Section 80C under the old tax regime, subject to the applicable tax regime and the overall Section 80C limit. Interest and qualifying maturity proceeds are exempt from tax.

Education Support

Partial withdrawal is permitted for the girl child's higher education after the specified age or education condition is met.

Transfer Facility

An SSY account can be transferred between authorised banks and post offices under the applicable scheme rules.

Frequently Asked Questions

What is the current Bank of India Sukanya Samriddhi Yojana interest rate?

The current Sukanya Samriddhi Account interest rate is 8.2% per annum for July to September 2026. Interest is compounded annually. The Government of India notifies the SSY rate, so Bank of India does not set a separate rate for its customers. The rate can change when small-savings rates are reviewed.

Who is eligible for a Bank of India Sukanya Samriddhi Account?

A parent or legal guardian can open the account for a girl child who has not attained 10 years of age. Both the guardian and girl child must be resident Indian citizens at the time of account opening.

Can I open a Bank of India Sukanya Samriddhi Account online?

Bank of India's current public SSY information does not confirm a complete online account-opening process. Customers should therefore visit or contact an authorised BOI branch for the latest procedure rather than assuming that a new account can be opened entirely online.

What is the minimum deposit for a Bank of India SSY account?

The minimum contribution is ₹250 per financial year, while the maximum is ₹1.5 lakh. Subsequent contributions can be made in multiples of ₹50. Deposits may be made in one payment or several instalments during the year.

Can money be withdrawn from a BOI Sukanya Samriddhi Account before maturity?

Yes. Up to 50% of the balance at the end of the financial year preceding the withdrawal application can be withdrawn for education. The withdrawal is allowed after the account holder turns 18 or passes Class 10, whichever occurs earlier.

Can the BOI SSY account be closed for the girl child's marriage?

Yes. Premature closure can be requested for the account holder's intended marriage after she reaches 18 years of age. Bank of India requires the prescribed declaration and proof of age. Marriage does not automatically mature the account, so an application for closure is required.

Is Bank of India Sukanya Samriddhi Yojana tax-free?

Yes. Under the old tax regime, eligible contributions can qualify for a deduction up to ₹1.5 lakh under Section 80C, subject to the overall limit. The interest credited to the account and qualifying maturity proceeds are exempt from tax. This gives SSY tax benefits at the investment, earning and maturity stages.

Is nomination compulsory for a Bank of India Sukanya Samriddhi Account?

Yes. Bank of India mentions nomination as a compulsory requirement for the Sukanya Samriddhi Account. The bank allows up to four nominees, whose details are provided as part of the nomination process.