Sukanya Samriddhi Yojana (SSY) 2026: Interest Rate, Maturity Amount & How to Open Account

Sukanya Samriddhi Yojana (SSY) is a government backed savings scheme designed to focus on wealth generation for girl child's future education and marriage expenses. SSY scheme is available for girls aged below 10 years, and the scheme offers an attractive interest rate of 8.2% per annum. Parents or legal guardians can start investing from a minimum of Rs. 250 upto a maximum of Rs. 1.5 lakh per year and enjoy tax deduction under Section 80C for the amount invested, along with tax-free interest and maturity proceeds under the Income Tax Act. 

With its long tenure and guaranteed returns, SSY is one of the most popular investment options for securing a girl child's future.

Sukanya Samriddgi Yojana Key Highlights Table

Particulars	Details
Interest Rate	8.2% p.a. compounded annually
Deposit Period	15 years from account opening
Maturity Period	21 years from account opening
Minimum Investment	Rs. 250 per year
Maximum Investment	Rs. 1.5 lakhs per year
Best For	Long-term savings for girl child education and marriage

Sukanya Samriddhi Yojana Interest Rate FY 2026-27

Sukanya Samriddhi Yojana or SSY interest rate is 8.2% for Q1 of FY 2026-27 (April-June) which is compounded annually. This interest rate is quite higher compared to many fixed deposits and other government schemes which makes SSY an attractive option for conservative investors focusing on building wealth.

The interest for the SSY account is calculated on the lowest balance for the calendar month, and is credited once, at the end of each financial year. The interest earned in futhere compounded in the scheme till maturity. 

1. Sukanya Samriddhi Yojana Historical Interest Rates

2. Interest Rate Comparison: SSY vs FD vs PPF

Sukanya Samriddhi Yojana offers a high interest rate of 8.2% p.a. when compared to other investment options such as fixed deposits and provident funds. Thus, SSY scheme is an ideal option for parents of girl child focusing on wealth building with lower risk exposure. 

Sukanya Samriddhi Yojana Calculator 2026

SSY Maturity Amount - Worked Examples

Assuming an interest rate on 8.2% p.a. with yearly investments made for 15 years, the maturity amount after 21 years will be as follows:

For Example, If you invest Rs. 1.5 lakh per year for 15 years in SSY scheme at an interest rate of 8.2%, up on maturity the amount can grow up to an estimate of Rs. 71 lakhs in 21 years due to annual compounding and continued interest accrual even after the contribution period ends.

Comparison of SSY, PPF, NSC and Mutual Fund

SSY Eligibility & Account Opening Rules

• A Sukanya Samriddhi Yojana account can be opened by a resident parent or guardian of a girl child aged below 10 years.
• One family can open and operate a maximum of only two SSY accounts. However, there is an exception for twins or triplets. 
• SSY account can also be opened for adopted daughters by their legal guardians
• However, SSY account cannot be opened by NRIs. In case the girl child becomes an NRI, the account must be ermanently closed. 

SSY Deposit Rules

The deposit period of an SSY account is 15 years. In case of any default account, a penalty of Rs. 50 per year and the minimum deposit must be paid to regularise it again. However, no interest will be paid if the amount is not withdrawn even after maturity.  

• Minimum deposit: Rs 250 per year.
• Maximum deposit: Rs 1.5 lakh per year.
• Maturity period: 21 years from the date of account opening.
• Deposit methods: Cash, cheque, DD, or online transfer.
• Guardian role: Guardian can deposit and operate the account until the girl turns 18 years old.

Sukanya Samriddhi Yojana Tax Benefits

Sukanya Samriddhi Yojana enjoys the Exempt-Exempt-Exempt (EEE) tax status, which is the most favourable in tax-saving schemes. 

• Deduction on Deposits: SSY deposit amount per month or per annum, eligible for Section 80C deduction up to Rs. 1.5 lakh per year.
• Tax-free interest: Interest earned on the SSY account balance annually is fully exempt under section 10 of the Income Tax Act.
• Tax-free maturity: Final proceeds, including interest and principal amount, are exempt from income tax.

How to Open a Sukanya Samriddhi Yojana Account in a Post Office?

Sukanya Samriddhi Yojana (SSY) account can be opened with a participating bank (designated bank) or a Post Office branch. You need to follow the below procedure to open the account:

Step 1: Visit the bank or post office branch where you would like to open the account.

Step 2: Fill up the application form (Form-1) with relevant details and provide supporting documents.

Step 3: Pay the first deposit in the form of cash, cheque, or demand draft. The amount can be anything from Rs. 250 up to Rs.1.5 lakh.

Step 4: The bank or post office will process your application and payment.

Step 5: Upon processing, your SSY account will be opened. A passbook will be issued for this account marking the initiation of the account.

It is recommended to open a Sukanya Samriddhi Yojana account as early as possible, to secure the financial needs of your daughter's future.

Documents Required for Sukanya Samriddhi Yojana

You have to walk down to the post office or a bank branch where you have submitted the SSY application to submit the documents and proofs. You need to submit a physical copy of the following documents:

• Birth certificate of the girl child
• Identity and address proof of the guardian
• Medical certificate for proof of birth of multiple girl children on a single order of birth
• Other KYC documents, such as Aadhaar card, Voters ID, etc.
• Any other documents as required by the post office or banks

SSY Withdrawal Rules

1. Premature Closure of SSY Account

Sukanya Samriddhi Yojana (SSY) can be prematurely closed only in the following situations:

• Marriage: After the girl turns 18, an application for closure can be submitted between 1 month before marriage and 3 months after marriage, along with age proof.
• Death: If the girl child dies, the balance will be paid to the guardian upon submission of the death certificate.
• Medical emergencies: Premature closure allowed in case of life-threatening diseases of the account holder or death of the guardian.
• General premature closure: If closure is made for reasons other than the above, the account will earn interest at post-office savings account rate (lower than SSY interest rate).

2. Pre-Maturity Withdrawal Rules

• Withdrawal limit: 50% of the account balance as of the previous financial year’s end.
• Purpose: Can only be used for educational or marriage expenses.
• Age limit: This withdrawal is allowed only when the child has crossed 18 years or passed 10th Standard, whichever is earlierInstallments: Withdrawal can be made in lump-sum or in 5 equal installments.
• Documentation required: Form-3, along with proof of educational or marriage expenses (e.g., admission fee slip, bills, and SSY passbook).
• Withdrawal cap: The withdrawal amount cannot exceed the fees for admission or other fees to higher education (as mentioned in the fee slip).

SSY vs ELSS - Which is Better for Girl Child Education Planning?

It is important to compare Sukanya Samriddhi Yojana with ELSS for parents considering investment options for higher education fund. 

1. When SSY Makes More Sense

• You want a guaranteed and safe education corpus.
• You prefer tax-free maturity benefits.
• You do not want market volatility risk.
• Your investment goal is specifically for a girl child.

2. When ELSS May Be Better

• You have a long investment horizon and higher risk appetite.
• You want potentially inflation-beating returns.
• You are comfortable with short-term market volatility.
• You want flexibility after the 3-year lock-in.

A stable and balanced investment strategy helps in capital safety and wealth creation for future education expenses. 

Download Important Forms For Sukanya Samriddhi Yojana

Important forms under the Sukanya Samriddhi Yojana (SSY) Scheme are given below:

Sukanya Samriddhi Yojana Account Authorised Banks

You can open a Sukanya Samriddhi Yojana account either with a participating bank or a post office branch. However, it is more convenient for you to open an SSY account with the bank where you already hold a savings account if it is one of the participating banks. You can visit the respective banks’ websites to download the SSY Account Opening Application Form. 

You need to fill the form and submit it to the participating bank to open the SSY account. The authorised banks are:

Sukanya Samriddhi Yojana Online Payment

You have to download the IPPB app on your smartphone to make online payments towards your SSY account. Through this app, you can set standing instructions so that a specified amount will be transferred online to your SSY account. Here is the step-by-step procedure:

Step 1: Transfer money from your bank account to the IPPB account.

Step 2: On the IPPB app, go to DOP Products / Services tab and choose the Sukanya Samriddhi Yojana account.

Step 3: Enter your SSY account number and the customer ID.

Step 4: Choose the amount you would like to pay and the installment duration.

Step 5: IPPB will notify you of the success of setting up the payment routine.

Each time the app makes the money transfer, you will be notified of the same.

How to Transfer a Sukanya Samriddhi Account from the Post Office to a Bank?

To transfer the SSY account from a post office to a bank, follow these instructions:

• Visit the PO branch where the account is held. The girl child need not visit the PO branch as the guardian can complete the process.
• Inform the PO executive about your intent to transfer the SSY account.
• Submit the duly filled account transfer form and KYC documents. The executive will verify the details and transfer the account on your request.
• Now, visit the bank branch where you would like to maintain the SSY account.
• Submit the self-attested KYC documents and any other paperwork provided to you by the PO executive while requesting to maintain the account with them.
• Once the bank executive processes your request, a new passbook will be provided.

The balance in the SSY can be transferred anywhere in India – from or to post offices, from or to banks, and between post offices and banks free of cost. This can be done upon furnishing proof of a change of residence of either the guardian or the girl child. Under any other circumstance, such a transfer can be made by paying a fee of Rs 100.