Sukanya Samriddhi Yojana: Eligibility, Interest Rate & Rules
Quick answer: Any parent or guardian can open a Sukanya Samriddhi account for a girl below 10 years — no income limit, maximum two accounts per family. Deposit ₹250 to ₹1.5 lakh per year and earn 8.2% per annum (Apr–Jun 2026 rate), completely tax-free. Open it at any post office or authorised bank.
Saving for a daughter? You may also qualify for scholarships and girl-child schemes.
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What SSY offers
Sukanya Samriddhi Yojana is the government's highest-interest small-savings scheme, created under Beti Bachao Beti Padhao to build a corpus for a girl's education and future. Returns are government-guaranteed, the rate consistently beats PPF and bank FDs, and the entire proceeds — deposits, interest, maturity — are tax-exempt (EEE status).
Eligibility criteria
- The account is opened in the girl's name by a parent or legal guardian.
- The girl must be a resident Indian below 10 years at opening.
- One account per girl; maximum two per family (exception: twins/triplets allow a third).
- No income limit — SSY is open to all families, including income-tax payers.
Key rules at a glance
| Rule | Detail |
|---|---|
| Interest rate | 8.2% p.a. compounded annually (Apr–Jun 2026; reviewed quarterly by the government) |
| Deposits | ₹250 minimum to ₹1.5 lakh maximum per financial year, for 15 years from opening |
| Maturity | 21 years from opening, or on the girl's marriage after age 18 |
| Education withdrawal | Up to 50% of previous year-end balance once the girl turns 18 or passes Class 10 |
| Tax | EEE — 80C deduction on deposits (old regime), tax-free interest and maturity |
| Default penalty | Account becomes inactive if minimum ₹250/year isn't paid; revive with ₹50/year penalty |
| Operation | Guardian operates until the girl is 18; then she operates it herself |
How to open an SSY account
- Visit any post office or branch of an authorised bank (SBI, PNB, Canara, HDFC, ICICI and most major banks).
- Fill the SSY account opening form with the guardian's and girl's details.
- Submit documents: the girl's birth certificate (mandatory), guardian's Aadhaar and PAN, and address proof.
- Make the initial deposit (₹250 minimum). Subsequent deposits via cash, cheque, or standing instruction/online transfer where supported.
- Many banks let you automate deposits and view the SSY balance in net banking; post office accounts can be linked to IPPB for online deposits.
Worth knowing before you commit
- The 15-year deposit obligation is per account opening date — opening when your daughter is 1 means deposits till she's 16, maturity at 22.
- Rates reset quarterly. 8.2% is the current rate, not a 21-year guarantee — though SSY has historically stayed the highest among small-savings schemes.
- If you move abroad and the girl loses resident status, the account must be closed.
- Pair SSY with education funding: check NSP scholarships and private scholarships your daughter may qualify for later.
Frequently asked questions
Who is eligible for Sukanya Samriddhi Yojana?
Parents/guardians of a resident Indian girl under 10 — one account per girl, two per family, no income limit.
What is the current SSY interest rate?
8.2% per annum compounded annually (April–June 2026). The government reviews it every quarter.
How much can I deposit?
₹250 to ₹1.5 lakh per financial year, for 15 years. Maturity is at 21 years from opening.
Is SSY tax-free?
Fully — deposits get the 80C deduction (old regime), and interest plus maturity are exempt.
Can I withdraw early?
50% for higher education after the girl turns 18 (or passes Class 10); full closure for marriage after 18.
One daughter, many benefits — savings schemes, scholarships, state grants.
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Sources: India.gov.in — SSY, National Savings Institute. Interest rates are notified quarterly by the Ministry of Finance — confirm the current rate before investing. Last verified 5 June 2026.