Sukanya Samriddhi Yojana: Government-backed savings scheme for girl child with 8.2% interest — highest among all small savings schemes, with complete tax exemption.Interest Rate: 8.2% p.a.. Maturity: 21 years. Min. Deposit: ₹250/yr. Tax Status: EEE (fully tax-free).Sukanya Samriddhi Yojana (SSY) is a government savings scheme launched in January 2015 under the 'Beti Bachao Beti Padhao' campaign. It allows parents or legal guardians to open a savings account in the name of a girl child below 10 years of age. The account earns 8.2% annual interest — the highest rate among ALL government small savings schemes including PPF, NSC, and Senior Citizen Savings.
Active SchemeUpdated: March 2026
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Sukanya Samriddhi Yojana
Government-backed savings scheme for girl child with 8.2% interest — highest among all small savings schemes, with complete tax exemption
Interest Rate
8.2% p.a.
Maturity
21 years
Min. Deposit
₹250/yr
Tax Status
EEE (fully tax-free)
📖What is Sukanya Samriddhi Yojana?
Sukanya Samriddhi Yojana (SSY) is a government savings scheme launched in January 2015 under the 'Beti Bachao Beti Padhao' campaign. It allows parents or legal guardians to open a savings account in the name of a girl child below 10 years of age. The account earns 8.2% annual interest — the highest rate among ALL government small savings schemes including PPF, NSC, and Senior Citizen Savings.
The scheme has EEE (Exempt-Exempt-Exempt) tax status, meaning your deposit qualifies for Section 80C deduction (up to ₹1.5 lakh), the interest earned is completely tax-free, and the maturity amount is also tax-free. No other investment in India offers this combination of high returns + full tax exemption + government guarantee.
You can deposit a minimum of ₹250 and maximum of ₹1.5 lakh per financial year. Deposits are required for the first 15 years from the account opening date, after which the account continues to earn interest until maturity at 21 years. The scheme is available at all post offices and most major banks including SBI, PNB, BOB, HDFC Bank, ICICI Bank, and Axis Bank.
Since launch, over 3 crore Sukanya Samriddhi accounts have been opened across India. The scheme has become one of the most popular savings instruments for parents planning for their daughter's education and marriage expenses.
✅Eligibility
Who can openBiological parent or legal guardian of a girl child
Girl's ageBelow 10 years at the time of account opening (grace period: up to 1 year after turning 10 for some banks)
Accounts per childOnly ONE account per girl child — cannot open multiple accounts for the same child
Accounts per familyMaximum 2 accounts (one per girl child). Exception: if twins/triplets, a 3rd account is allowed with birth certificate proof
Where to openAny post office or authorized bank — SBI, PNB, BOB, Canara Bank, HDFC Bank, ICICI Bank, Axis Bank, and others
Documents neededGirl's birth certificate, parent/guardian's Aadhaar + PAN card, address proof (Aadhaar/passport/utility bill), 2 passport-size photos of parent and child
CitizenshipGirl child must be an Indian resident citizen. NRI girls are not eligible.
📊How Much Money Will You Get? — Real Calculations
Here are exact calculations showing how much your daughter will receive at maturity, based on different monthly deposit amounts at the current 8.2% interest rate:
If you deposit ₹1,000/month (₹12,000/year) for 15 years: Total deposited = ₹1,80,000. Maturity amount after 21 years ≈ ₹5,54,000. That's over 3× your investment — completely tax-free.
If you deposit ₹5,000/month (₹60,000/year) for 15 years: Total deposited = ₹9,00,000. Maturity amount after 21 years ≈ ₹27,72,000. Almost ₹28 lakh from ₹9 lakh invested.
If you deposit ₹12,500/month (₹1,50,000/year — maximum) for 15 years: Total deposited = ₹22,50,000. Maturity amount after 21 years ≈ ₹69,30,000. Nearly ₹70 lakh from ₹22.5 lakh — and every rupee is tax-free.
Important: The interest rate is reviewed quarterly by the government. It has ranged from 7.6% to 9.2% since the scheme launched. The above calculations use the current 8.2% rate. Actual maturity amount may vary based on rate changes over the 21-year period.
Pro tip: Deposit your annual amount before the 5th of April each year. Interest is calculated on the lowest balance between the 5th and end of each month. Depositing early in the financial year maximizes your interest earnings.
📋Key Rules You Must Know
Deposit period: You must deposit at least ₹250 every financial year for the first 15 years from the date of account opening. After 15 years, no more deposits are needed — the existing balance continues to earn 8.2% interest until maturity at 21 years.
Missed deposit penalty: If you miss depositing the minimum ₹250 in any year, a penalty of ₹50 per year of default is charged. To revive a defaulted account, you must pay all pending minimum deposits + ₹50 penalty for each year of default. The account continues to earn interest even during the default period.
Partial withdrawal: After the girl turns 18, you can withdraw up to 50% of the balance (as at the end of the preceding financial year) for higher education expenses. You need to submit proof of admission or fee receipts. Only one withdrawal per year is allowed.
Premature closure: The account can be closed before maturity only in these cases: (1) Marriage of the girl — allowed after she turns 18 (must apply 1 month before or 3 months after marriage), (2) Death of the account holder (girl child), (3) Extreme compassionate grounds like life-threatening illness — requires approval from the competent authority.
Transfer: The account can be transferred from one post office/bank to another anywhere in India for free. Useful if the family relocates. Submit a transfer request at the current branch with KYC documents.
Account operation: Until the girl turns 18, the account is operated by the parent/guardian. After 18, the girl herself operates the account. She needs to submit her own KYC documents to take over the account.
⚖️SSY vs PPF vs FD — Which is Best for Your Daughter?
| Feature | Sukanya Samriddhi | PPF | Bank FD |
|---|---|---|---|
| Interest Rate | 8.2% | 7.1% | 6.5–7.5% |
| Tax Status | EEE (fully tax-free) | EEE (fully tax-free) | Interest is taxable |
| Lock-in | 21 years (partial at 18) | 15 years (partial at 7) | Flexible |
| 80C Benefit | Yes (up to ₹1.5L) | Yes (up to ₹1.5L) | Only 5-year tax-saver FD |
| Who can open | Only for girl child <10 | Anyone | Anyone |
| Risk | Zero (govt-backed) | Zero (govt-backed) | Very low (DICGC insured) |
| Best For | Girl child's future | General long-term savings | Short-term parking |
🚀How to Open an SSY Account — Step by Step
1
Choose bank or post office
SSY is available at all India Post offices and authorized banks. Post offices are easier for rural areas. Banks offer online access and passbook tracking. Check if your preferred bank offers SSY — not all private banks do.
2
Gather documents
You need: (1) Girl child's birth certificate (original + photocopy), (2) Parent/guardian's Aadhaar card + PAN card, (3) Address proof — Aadhaar, passport, voter ID, or utility bill, (4) 2 passport-size photos each of the parent/guardian and the girl child.
3
Fill the account opening form
Ask for the SSY account opening form at the counter. Fill in: girl's name, date of birth, parent/guardian's details, nominee information, and initial deposit amount. Double-check all spellings — corrections later require formal applications.
4
Make your first deposit
Minimum first deposit is ₹250. You can deposit up to ₹1,50,000 in the first year. Payment can be by cash, cheque, demand draft, or online transfer (if your bank supports it). You'll receive a passbook with the account details.
5
Set up annual reminders
You MUST deposit at least ₹250 every financial year for 15 years. Set a calendar reminder for March (before March 31) to ensure you don't miss the annual deposit. Missing it incurs a ₹50 penalty and the account may become inactive.
⚠️Common Mistakes to Avoid
Mistake 1 — Opening account after the girl turns 10: The account MUST be opened before the girl's 10th birthday. Even one day late and the application will be rejected. If your daughter is approaching 10, open the account immediately with the minimum ₹250.
Mistake 2 — Depositing more than ₹1.5 lakh: The maximum deposit per year is ₹1,50,000 across ALL deposits in that account. If you deposit more, the excess amount earns zero interest and will be returned. Plan your deposits accordingly.
Mistake 3 — Not depositing in the first financial year: Many parents open the account but forget to deposit the minimum ₹250 in subsequent years. This leads to the account becoming inactive. Set up a standing instruction or recurring reminder.
Mistake 4 — Thinking the money is locked for 21 years: Many parents avoid SSY thinking they can't touch the money for 21 years. In reality, 50% can be withdrawn after the girl turns 18 for education, and the full amount can be withdrawn upon marriage after 18. The 21-year maturity is the maximum period.
Mistake 5 — Opening at a bank that doesn't offer SSY: Not all banks offer SSY. If you go to a bank branch and they say they don't offer it, try India Post or a nationalized bank (SBI, PNB, BOB, Canara Bank are all authorized).
📝How to Apply
1
Visit nearest post office or authorized bank
Carry all documents — girl's birth certificate, your Aadhaar + PAN, address proof, and passport photos.
2
Fill the SSY account opening form
Provide the girl child's name (as on birth certificate), date of birth, parent/guardian details, and nominee information.
3
Make initial deposit of ₹250 or more
The minimum is ₹250. You can deposit up to ₹1,50,000 in the first financial year. Pay by cash, cheque, or DD.
4
Collect your passbook
You'll receive a passbook with the account number, girl's name, and deposit details. Keep this safe — you'll need it for all future transactions.
ℹ️The SSY account must be opened BEFORE the girl turns 10 years old. Current interest rate of 8.2% is the highest among all small savings schemes. The rate is reviewed quarterly — check nsiindia.gov.in for the latest rate.
📅Important Dates & Schedule
Deposit periodFirst 15 years from account opening date
Partial withdrawalAfter girl turns 18 (up to 50% for education)
Premature closureAfter girl turns 18 (for marriage only)
Maturity21 years from date of account opening
Interest rate reviewEvery quarter (Jan, Apr, Jul, Oct) by Finance Ministry
❓Frequently Asked Questions
🔗Related Schemes
Savings
PPF — Complete Guide
TaxSection 80C — Tax Saving Guide
AgriculturePM Kisan Samman Nidhi
InvestingWhat is SIP?
National Savings Institute
www.nsiindia.gov.in