Sukanya Samriddhi Yojana (SSY) Interest Rate
This scheme last updated its deposit rates on 01-Jul-26.
Scheme Overview
Launched in January 2015 under the Beti Bachao, Beti Padhao campaign, SSY is a dedicated corpus-builder for a girl child's education and marriage. It carries the highest interest rate among the small savings schemes and, like PPF, enjoys full EEE tax treatment — a rare combination of high yield and zero tax.
- Interest rate: 8.20% p.a., compounded annually.
- Minimum / Maximum deposit: ₹250 to ₹1.5 lakh per financial year.
- Tenure: Deposits are made for 15 years; the account matures 21 years from the date of opening (or on the girl's marriage after age 18, whichever is earlier).
- Lock-in: Funds stay locked until the girl turns 18; the account has an effective long horizon aligned to a child's education timeline.
- Eligibility: Opened by a parent or legal guardian for a girl child below 10 years. A maximum of two accounts per family (an exception applies for twins/triplets). NRIs are not eligible; if the girl becomes an NRI, the account must be closed.
- Premature access: Partial withdrawal of up to 50% of the previous year's closing balance is allowed once the girl turns 18 or passes Class 10 (whichever is earlier), strictly for education. Premature closure is permitted on marriage after 18, or on compassionate grounds (death or life-threatening illness). A default account (below the ₹250 minimum) attracts a ₹50 penalty per year to regularise.
- Tax benefit: EEE — deposit qualifies under Section 80C; interest and maturity are tax-free.
- Payout: Lump sum at maturity. No loan facility is available against SSY.
Government Schemes — At a Glance
| Scheme | Rate (p.a.) | Tenure | Max Deposit | Eligibility | Early Closure | Tax Benefit | Payout |
|---|---|---|---|---|---|---|---|
| 7.10% | 15 yrs | ₹1.5L / year | Residents | Conditional | Yes | At maturity | |
| 8.20% | 21 yrs | ₹1.5L / year | Girl child | Conditional | Yes | At maturity | |
| 8.20% | 5 + 3 yrs | ₹30 lakh | Age 60+ | Yes | Yes | Quarterly | |
| 7.70% | 5 yrs | No limit | Residents | No | Yes | At maturity | |
| 7.50% | 1–5 yrs | No limit | Residents | Yes | Yes | Annual | |
| 6.70% | 5 yrs | No limit | Residents | Yes | No | At maturity | |
| 7.40% | 5 yrs | ₹9L / ₹15L joint | Residents | Yes | No | Monthly | |
| 7.50% | 115 months | No limit | Resident | Yes | No | At maturity |
Interest rates are for the July–Sept 2026 quarter and are revised quarterly by the Ministry of Finance. This is for educational purposes and is not investment or tax advice — verify current figures on India Post or NSI before investing.
Frequently Asked Questions
Sukanya Samriddhi Yojana pays 8.2% per annum for the July–September 2026 quarter, compounded annually — the highest among the small savings schemes. The rate is revised quarterly by the government. Interest is calculated on the lowest monthly balance. Check the latest SSY rate on vikalp.io.
An SSY account can be opened for a girl child below 10 years by a parent or legal guardian. A family may open a maximum of two accounts (with an exception for twins or triplets). NRIs are not eligible, and the girl must be a resident of India.
You must deposit at least ₹250 and at most ₹1.5 lakh per financial year. Deposits are required only for the first 15 years, after which the account keeps earning interest. Missing the ₹250 minimum makes the account inactive until it is revived with a ₹50 penalty.
An SSY account matures 21 years from the date of opening, or earlier on the girl's marriage after age 18. Deposits are made only for the first 15 years; the balance continues earning interest for the remaining period until the account matures.
Yes, up to 50% of the previous year's balance can be withdrawn once the girl turns 18 or passes Class 10, strictly for higher education. Full premature closure is allowed on her marriage after 18, or on compassionate grounds such as death or life-threatening illness.
Yes, SSY carries full EEE status. Deposits qualify for a Section 80C deduction under the old tax regime, and both the interest earned and the final maturity amount are completely tax-free. The new tax regime does not allow the 80C deduction, though the interest stays exempt.
SSY interest is compounded annually and credited to the account each financial year; there is no periodic payout. The full corpus — principal plus accumulated interest — is paid as a lump sum at maturity. No loan facility is available against an SSY account.