Indian Bank Sukanya Samriddhi Yojana: How to Open an Account

Indian Bank Sukanya Samriddhi Yojana Interest Rates Historical Data

The Sukanya Samriddhi Yojana ROI is notified quarterly by the Ministry of Finance and recorded by the National Savings Institute. Indian Bank applies the notified rate without variation, as does every authorised institution.

Financial Year	Q1 (Apr-Jun)	Q2 (Jul-Sep)	Q3 (Oct-Dec)	Q4 (Jan-Mar)
2026-27	8.2%	8.2%	To be notified	To be notified
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%
2017-18	8.4%	8.3%	8.3%	8.1%
2016-17	8.6%	8.6%	8.5%	8.5%
2015-16	9.2%	9.2%	9.2%	9.2%
2014-15	Not applicable	Not applicable	9.1%	9.1%

What Are the Benefits of the Indian Bank SSY Account?

Below are the benefits of the Sukanya Samriddhi account Indian Bank operates.

Benefits Component

Details

Full Online Opening

The account may be opened through Net Banking or the IndSMART application without attending a branch. Post offices and most other authorised banks continue to require attendance in person.

Highest Notified Rate

At 8.2% per annum for the current quarter, the scheme carries the joint highest rate among savings schemes, alongside the Senior Citizens Savings Scheme.

Complete Tax Exemption

Deposits qualify for deduction under Section 123 read with Schedule XV of the Income Tax Act, 2025, subject to the aggregate ceiling of ₹1.5 lakh in a tax year. Interest and maturity proceeds are exempt.

Sovereign Backing

The deposit is backed by the Government of India and carries no credit or market risk, irrespective of the institution holding the account.

Standing Instruction Facility

Recurring deposits may be automated from a linked Indian Bank operative account, which removes the risk of the account falling into default through oversight.

Inexpensive Revival

An irregular account is restored on payment of ₹250 together with ₹50 for each irregular year, so a missed year carries limited financial consequence.

Portability

The account may be transferred to or from another bank or a post office free of charge, on proof of change of residence.

Nomination and Passbook

A passbook is issued by the home branch and constitutes the record of deposits, interest credits and withdrawals.

FAQs

Can an Indian Bank SSY account be opened online?

Yes. Indian Bank permits the account to be opened through its Net Banking platform. The same function is available on the IndSMART mobile application. This distinguishes Indian Bank from post offices and from most other authorised banks, where attendance at a branch remains necessary.

What is the current Sukanya Samriddhi Yojana interest rate at Indian Bank?

8.2% per annum for the quarter from 1 July 2026 to 30 September 2026. The rate is notified by the Ministry of Finance and is identical at every authorised institution. Indian Bank does not set or vary it.

Are PAN and Aadhaar compulsory to open the SSY account at Indian Bank?

Yes. Indian Bank requires the guardian's PAN and Aadhaar, along with the girl child's birth certificate and standard identity and address proof. These are Indian Bank's account-opening requirements and are separate from the scheme's statutory provisions.

What does the Indian Bank charge to revive an SSY account in default?

The revival fee is ₹250, plus ₹50 for each year of default. For two missed years, the total is ₹600. The account must be revived 15 years from the date of opening.

Can an existing account be transferred to Indian Bank from a post office or another bank?

Yes. A transfer request is submitted at the institution currently holding the account, together with proof of change of residence, nominating the Indian Bank branch. No charge applies.

What happens to the account at Indian Bank if guardianship is taken by a grandparent?

Guidelines effective from 1 October 2024 require the account to be transferred to the natural guardian if a parent is alive, or to the legal guardian. The branch where the account is held requires the original passbook, birth certificate, proof of relationship, identity proof of the new guardian, and the prescribed application.

Are the maturity proceeds from an Indian Bank SSY account still eligible for tax exemption?

No. From 1 April 2026, deposits qualify under Section 123 read with Schedule XV of the Income Tax Act, 2025, which replaced Section 80C of the 1961 Act. The ceiling of ₹1.5 lakh in a tax year is unchanged, and the deduction remains available only under the old regime.