The Sukanya Samriddhi Yojana (SSY) is a government-backed long-term savings scheme exclusively designed for the financial security of a girl child. Launched in 2015 under the Beti Bachao Beti Padhao campaign by the Ministry of Finance, the scheme allows parents and guardians to build a dedicated corpus for their daughter’s higher education and marriage expenses — starting with a minimum deposit of just ₹250 per year.
In Q1 of FY 2026-27 (April to June 2026), the government has maintained the interest rate at 8.2% per annum, compounded annually — which is higher than PPF (7.1%), most bank fixed deposits, and other government small savings schemes. The scheme enjoys EEE (Exempt-Exempt-Exempt) tax status — meaning deposits qualify for Section 80C deduction, interest earned is completely tax-free, and the maturity amount is also exempt from income tax. This triple tax benefit makes SSY one of the most efficient long-term investment instruments available in India today.
Scheme Overview
| Particulars | Details |
|---|---|
| Scheme Name | Sukanya Samriddhi Yojana (SSY) |
| Launched By | Government of India — Ministry of Finance |
| Launch Year | 2015 — under Beti Bachao Beti Padhao Campaign |
| Current Interest Rate | 8.2% per annum — compounded annually (Q1 FY 2026-27) |
| Tax Status | EEE — Deposits, Interest and Maturity all fully tax-free |
| Minimum Annual Deposit | ₹250 per year |
| Maximum Annual Deposit | ₹1,50,000 per year |
| Deposit Period | 15 years from account opening date |
| Account Maturity | 21 years from account opening date |
| Where to Open | Any authorised bank branch or Post Office across India |
| Section 80C Deduction | Up to ₹1,50,000 per year |
| Maximum Accounts per Family | Two — one for each girl child (three in case of twins or triplets) |
Interest Rate — Current and Historical
The SSY interest rate is reviewed and announced by the government every quarter based on Government Security (G-sec) yields. The rate has consistently remained among the highest offered by any government small savings scheme in India.
Eligibility Criteria
| Condition | Requirement |
|---|---|
| Beneficiary | Girl child only — biological or legally adopted |
| Age of Girl Child | Must be below 10 years at time of account opening |
| Account Opened By | Parent or legal guardian of the girl child |
| Citizenship | Girl child must be a resident Indian citizen at time of opening |
| Accounts per Child | Only one SSY account per girl child |
| Accounts per Family | Maximum two accounts — one per girl child (three for twins or triplets) |
| NRI Status | If girl child becomes NRI after opening, interest stops accruing and account must be closed |
Documents Required to Open Account
| Document | Purpose |
|---|---|
| Girl Child’s Birth Certificate | Age verification — confirms child is below 10 years |
| Parent or Guardian’s Aadhaar Card | Identity and KYC verification of account operator |
| Parent or Guardian’s PAN Card | Financial identity for tax benefit linkage under Section 80C |
| Address Proof | Utility bill, Aadhaar, or bank passbook with current address |
| Passport Size Photographs | For account opening form — of both parent and girl child |
| SSY Account Opening Form | Available at authorised bank branch or Post Office — free of charge |
How to Open a Sukanya Samriddhi Account
- Visit your nearest authorised bank branch or Post Office — SSY accounts can be opened at all major nationalised banks including SBI, PNB, Bank of Baroda, Canara Bank, as well as all Post Office branches across India.
- Collect and fill the SSY account opening form — the form is available free of cost at the branch. Fill in the girl child’s details, parent or guardian details, and annual deposit amount intended.
- Submit required documents — attach self-attested copies of girl child’s birth certificate, parent’s Aadhaar, PAN card, address proof and photographs.
- Make the initial deposit — the minimum opening deposit is ₹250. You can deposit up to ₹1,50,000 in the first year. Payment can be made by cash, cheque, demand draft, or online transfer.
- Receive passbook — the bank or Post Office issues an SSY passbook in the girl child’s name. This records all deposits, interest credited and the running balance.
- Set up annual standing instruction — to avoid missing the minimum annual deposit of ₹250, set up an auto-debit or standing instruction from your savings account to the SSY account every financial year.
Deposit and Withdrawal Rules
| Rule | Details |
|---|---|
| Minimum Annual Deposit | ₹250 per financial year — failure attracts ₹50 penalty per year |
| Maximum Annual Deposit | ₹1,50,000 per financial year |
| Deposit Period | Deposits required for 15 years from account opening — account continues earning interest for 6 more years until maturity at 21 years |
| Partial Withdrawal | Up to 50% of previous year’s balance — allowed only after girl turns 18 or passes Class 10, for higher education expenses only |
| Full Maturity Withdrawal | After 21 years from account opening — full corpus including interest is tax-free |
| Premature Closure for Marriage | Allowed after girl turns 18 — application submitted 1 month before to 3 months after marriage |
| Premature Closure for Medical Emergency | Allowed in case of life-threatening illness of account holder or death of guardian |
| Account Transfer | Free transfer anywhere in India between banks and Post Offices — useful in case of family relocation |
Tax Benefits — EEE Status Explained
Sukanya Samriddhi Yojana is one of the very few investment instruments in India that enjoys complete EEE (Exempt-Exempt-Exempt) tax treatment — the most favourable tax status available under the Income Tax Act.
| Tax Stage | SSY Treatment | Section |
|---|---|---|
| Annual Deposits | Fully deductible — up to ₹1,50,000 per year | Section 80C |
| Interest Earned | Completely exempt from income tax every year | Section 10 |
| Maturity Amount | Entire corpus including interest is tax-free on withdrawal | Exempt |
Frequently Asked Questions
What is the current interest rate for Sukanya Samriddhi Yojana in 2026?
The current interest rate for Q1 FY 2026-27 (April to June 2026) is 8.2% per annum, compounded annually. This is higher than PPF (7.1%) and most bank fixed deposits, making SSY one of the best risk-free investment options available for long-term savings in India.
Can I open an SSY account for my adopted daughter?
Yes. A legally adopted girl child is fully eligible for a Sukanya Samriddhi Yojana account. The same age limit applies — the account must be opened before the girl turns 10 years of age. Legal adoption documentation will be required at the time of account opening at the bank or Post Office.
What happens if I miss the minimum annual deposit of ₹250?
If the minimum annual deposit of ₹250 is not made in any financial year, the account is treated as a defaulted or irregular account. A penalty of ₹50 per defaulted year is charged. The account can be reactivated by paying all pending minimum deposits along with the accumulated penalties.
Can I withdraw money from SSY before maturity for my daughter’s college fees?
Yes. Partial withdrawal of up to 50% of the previous financial year’s account balance is allowed once the girl child has either completed 18 years of age or passed Class 10 — whichever is earlier. This withdrawal can only be used for higher education expenses such as college admission fees, tuition, or related charges.
What is the maximum amount I can invest in SSY per year?
The maximum annual contribution to a Sukanya Samriddhi Yojana account is ₹1,50,000 per financial year. This is also the maximum amount eligible for Section 80C deduction. If you have two daughters and two SSY accounts, the combined 80C deduction is still capped at ₹1,50,000 across both accounts under current tax rules.
Can the SSY account be transferred if I relocate to another city?
Yes. The SSY account can be transferred from one bank to another, or from a bank to a Post Office and vice versa, anywhere in India — free of charge upon providing proof of relocation. If no proof of relocation is provided, a transfer fee of ₹100 is charged by the receiving institution.
