Canara Bank Sukanya Samriddhi Yojana: Rate & Benefits

Canara Bank Sukanya Samriddhi Yojana Interest Rate Historical Data

The Canara Bank Sukanya Samriddhi Account interest rate is not independently decided by Canara Bank. It is notified by the Government of India under the small savings scheme framework and may be revised periodically. The current SSY interest rate is 8.2% p.a.

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%

What Are the Benefits of the Canara Bank SSY Account?

Canara Bank Sukanya Samriddhi Account allows customers to access the government backed SSY scheme along with banking facilities provided by Canara Bank.

Benefits Component

Details

Government Notified Interest Rate

As of now, SSY provides an interest rate of 8.2% pa. The rate is communicated by the Government of India and can be changed every quarter.

Long-Term Savings

The account provides a structured way to save for long term goals such as a girl's education and future financial needs.

Easy Contributions

Contributions can be made from ₹250 to ₹1.5 lakh in a financial year subject to the scheme rules.

Tax Benefits

Eligible contributions up to ₹1.5 lakh in a financial year can qualify for tax benefits under Section 80C under the old tax regime subject to applicable tax provisions.

Compound Interest

Interest is compounded annually as per SSY rules and this helps the account balance grow over the long term.

Transfer Facility

An SSY account can generally be transferred between authorised banks or between an authorised bank and post office, subject to the prescribed procedure.

Canara Bank has also enabled NEFT contributions to SSY accounts maintained with the bank. Customers can send contributions from another bank using the specified account and IFSC details provided by Canara Bank.

FAQs

Can a Sukanya Samriddhi account be closed early on compassionate grounds?

Yes, premature closure is allowed after five years from account opening under extreme compassionate grounds. Permitted conditions include life-threatening medical diseases of the girl child or the death of the supporting guardian, provided mandatory medical records and legal paperwork are furnished to the competent authority.

What is the current Canara Bank Sukanya Samriddhi Account interest rate?

The current interest rates on Sukanya Samriddhi Accounts are 8.2% per annum. The rate is notified by the Government of India every quarter and may be adjusted from time to time. It is not a bank's own rate as set by Canara Bank.

What is the minimum deposit required for a Canara Bank SSY account?

The minimum sum that can be deposited is ₹250 in a financial year and the maximum is ₹1.5 lakh per financial year.

What documents are needed for registration of Canara Bank Sukanya Samriddhi Account?

The required documents are those for SSY for the girl child, the documents needed by the guardian for KYC and the form to open an account. Depending upon the applicant's circumstances, additional paperwork may be requested.

Can I make a Canara Bank SSY online payment?

Yes. Canara Bank has announced that its customers can deposit in a SSY account held with the bank through NEFT even if it is from another bank. Use the prescribed account details and IFSC provided by the bank.

How can I check my Canara Bank Sukanya Samriddhi Account balance?

The bank balance of the SSY can be accessed via the relevant statement of account, passbook or servicing centre offered by Canara Bank. Online balance checking availability can be dependent on the digital services provided by Canara Bank for SSY accounts.

Can girl child withdraw money from a Canara Bank Sukanya Samriddhi Account?

Yes, partial withdrawal is permitted for education subject to the SSY rules. Generally up to 50% of the eligible balance can be withdrawn after the girl child attains 18 years of age or passes Class 10 whichever is earlier subject to the prescribed conditions.