What is Sukanya Samriddhi Yojana?
Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme for the girl child, launched under the Beti Bachao Beti Padhao campaign. It offers one of the highest guaranteed rates among small savings schemes, and the full maturity amount is tax-free, which makes it a strong way to save for a daughter's education or marriage.
Key features
| Interest rate | 8.2% a year (July–September 2026), compounded yearly |
|---|---|
| Deposits | ₹250 to ₹1,50,000 a year, for the first 15 years |
| Maturity | 21 years from the date of opening |
| Eligibility | Girl child below 10 years; up to 2 accounts per family |
| Withdrawal | Up to 50% after she turns 18, for education or marriage |
| Tax | Interest and maturity tax-free; deposits deductible under the old regime |
How the maturity amount is calculated
Deposits are made at the start of each year for 15 years and earn interest compounded yearly. For the remaining 6 years there are no deposits, but the balance keeps growing. The calculator assumes each year's deposit is made before 5 April, so it earns interest for the full year.
Worked examples at 8.2%
| Yearly deposit | Total deposited | Interest | Maturity value |
|---|---|---|---|
| ₹12,000 (₹1,000 a month) | ₹1,80,000 | ₹3,94,570 | ₹5,74,570 |
| ₹50,000 | ₹7,50,000 | ₹16,44,040 | ₹23,94,040 |
| ₹1,00,000 | ₹15,00,000 | ₹32,88,079 | ₹47,88,079 |
| ₹1,50,000 (maximum) | ₹22,50,000 | ₹49,32,119 | ₹71,82,119 |
Depositing the maximum turns ₹22.5 lakh into about ₹71.8 lakh, more than three times the amount deposited, all tax-free under current rules.
SSY vs PPF
- Rate: SSY currently pays 8.2%, higher than PPF at 7.1%.
- Who: SSY is only for a daughter under 10; anyone can open a PPF account.
- Flexibility: PPF can be extended indefinitely; SSY matures at 21 years.
Many parents combine SSY with an equity SIP for higher long-term growth, since education costs usually rise faster than general inflation.
Frequently asked questions
What is the current Sukanya Samriddhi interest rate?
The Sukanya Samriddhi Yojana rate for July–September 2026 is 8.2% a year, compounded yearly. The government reviews it every quarter.
How long do I have to deposit in SSY?
Deposits are made for the first 15 years from opening the account. The account then keeps earning interest until it matures 21 years after opening.
What is the minimum and maximum deposit?
At least ₹250 and at most ₹1,50,000 in a financial year. If the minimum is missed, the account becomes inactive and can be revived with a small penalty.
Who can open an SSY account?
A parent or legal guardian can open one account for a girl child below 10 years of age, for up to two daughters (three in the case of twins or triplets), at a post office or an authorised bank.
Can I withdraw before maturity?
Up to 50% of the balance can be withdrawn for the girl’s higher education or marriage once she turns 18. The account can be closed early on her marriage after 18, or in special cases such as a life-threatening illness.
Is Sukanya Samriddhi tax-free?
Yes. SSY has exempt-exempt-exempt status: interest and maturity are tax-free, and deposits qualify for the Section 80C deduction (now Section 123) of up to ₹1.5 lakh under the old tax regime.
Sources
- National Savings Institute, Ministry of Finance
- Department of Economic Affairs – small savings interest rates
- India Post – post office savings schemes
Last updated 19 September 2026. Results are estimates for planning only and are not investment, tax or legal advice. See our disclaimer.