Sukanya Samriddhi at a glance
| Interest rate | 8.2% a year (October–December 2026), compounded yearly |
|---|---|
| Who can open | A parent or legal guardian, for a girl under 10 |
| Accounts | One per girl; up to two girls per family (three with twins or triplets) |
| Deposit | ₹250 to ₹1,50,000 a financial year |
| Deposit period | 15 years from opening |
| Maturity | 21 years from opening |
| Tax | Deposit deductible (old regime); interest and maturity tax-free |
| Where to open | Any post office or authorised bank |
Worked example: what your daughter gets
An account opened in 2026 with deposits made at the start of each year, at today's rate of 8.2% throughout:
- ₹1.5 lakh a year: you pay in ₹22,50,000 over 15 years. The balance is about ₹44,75,989 when deposits stop and ₹71,82,119 at maturity in 2047, of which ₹49,32,119 is tax-free interest.
- ₹1,000 a month (₹12,000 a year): ₹1,80,000 paid in grows to ₹5,74,570.
The last six years add the most: no new money goes in, but the whole balance keeps compounding. Try your own amount and start year with the Sukanya Samriddhi calculator.
Withdrawals and closing the account
- For education: once your daughter turns 18 or passes class 10, up to 50% of the balance at the end of the previous financial year can be withdrawn for her higher education, against an admission letter or fee receipt.
- For marriage: the account can be closed early for her marriage after she turns 18, with the application made between a month before and three months after the wedding.
- On compassionate grounds: after 5 years it can be closed if she has a life-threatening illness or the guardian dies.
- At maturity: after 21 years the full balance is paid to her. Once she turns 18, she operates the account herself.
Tax on Sukanya Samriddhi
Like PPF, SSY is tax-free at every stage. Under the old regime your deposits, up to ₹1.5 lakh a year, count towards Section 80C (now Section 123 of the Income-tax Act, 2025), within the same ₹1.5 lakh limit shared with PPF, EPF and the rest. Under the new regime there is no deduction, but the interest and maturity amount are still tax-free.
How to open an SSY account
Visit a post office or a bank that offers SSY (most public sector banks and large private banks do) with:
- your daughter’s birth certificate;
- your own Aadhaar and PAN, and a photograph;
- the first deposit, at least ₹250.
Deposits can be made in cash, by cheque, or online through India Post’s app or your bank. Missing the ₹250 minimum in a year puts the account into default; it can be revived during the 15 deposit years for ₹250 plus a ₹50 penalty for each missed year. The account can be moved to any post office or bank in India.
Sukanya Samriddhi compared
- PPF pays 7.1% on the same tax-free terms and is open to anyone, with withdrawals from the 7th year.
- Equity mutual funds can grow faster over 15–21 years but carry market risk and tax on gains; many parents split money between the two.
- A child’s NPS Vatsalya account is for retirement, not for education or marriage.
All current rates are on post office interest rates.
Frequently asked questions
What is the Sukanya Samriddhi Yojana interest rate for October–December 2026?
8.2% a year, compounded yearly and tax-free. The rate is reviewed every quarter and applies to the whole balance, so it can change over the life of the account.
Up to what age can I open a Sukanya Samriddhi account?
Until your daughter turns 10. A parent or legal guardian opens it in her name, one account per girl, for up to two girls in a family (three if the second birth is twins or triplets).
How many years do I have to deposit in SSY?
15 years from the date of opening. The account then keeps earning interest without deposits until it matures, 21 years after it was opened.
When can money be withdrawn from Sukanya Samriddhi?
Up to 50% of the balance at the end of the previous financial year can be withdrawn for her education once she turns 18 or passes class 10. The account can be closed early for her marriage after she turns 18.
What if I miss the minimum ₹250 deposit in a year?
The account goes into default. You can revive it at any time during the 15 deposit years by paying ₹250 for each missed year plus a penalty of ₹50 for each.
Can grandparents open a Sukanya Samriddhi account?
Only if they are the girl’s legal guardian. Under rules in force since October 2024, accounts opened by grandparents who are not guardians must be transferred to a parent or legal guardian.
Is Sukanya Samriddhi better than PPF?
For a daughter’s goals, usually yes: it pays 8.2% against PPF’s 7.1%, on the same tax-free terms. PPF is open to everyone and lets you take money out sooner.
Sources
- National Savings Institute – Sukanya Samriddhi Account
- Department of Economic Affairs – small savings interest rates
- India Post – savings schemes
Last checked on 6 October 2026. The interest rate is reviewed every quarter; we update this page when a new rate is notified.