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The Sukanya Samriddhi Yojana (SSY) is one of India’s most popular government-backed savings schemes for parents who want to build a financial fund for their daughter’s future. It is designed to support long-term goals such as higher education, marriage and financial security.
As of October 2026, the Sukanya Samriddhi Yojana interest rate is 8.2% per annum for the October–December 2026 quarter. The Government of India retained this rate in its small savings scheme notification dated 30 September 2026. Interest rates are reviewed quarterly, which means the rate applicable in a future quarter may change.
Parents and legal guardians can open an SSY account for an eligible girl child before she turns 10. The minimum annual deposit is ₹250, while the maximum is ₹1.5 lakh. Deposits can be made for up to 15 years from the account opening date, and the account generally matures 21 years after it is opened.
This guide explains the latest SSY interest rate for 2026–27, eligibility conditions, deposit limits, maturity calculations, tax benefits, withdrawal rules and the process for opening an account.
Sukanya Samriddhi Yojana Interest Rate 2026–27
The current Sukanya Samriddhi Account interest rate is 8.2% per annum for the third quarter of financial year 2026–27, covering 1 October to 31 December 2026. The rate is notified by the Central Government under the small savings scheme framework.
The scheme is intended to encourage parents to save regularly for a girl child’s long-term needs. Its government-backed structure and tax advantages make it an option worth considering for families planning their daughter’s education or other future expenses.
Here are the key details.
| Feature | Details |
|---|---|
| Current interest rate | 8.2% per annum |
| Applicable quarter | October–December 2026 |
| Minimum annual deposit | ₹250 |
| Maximum annual deposit | ₹1,50,000 |
| Eligible account holder | Girl child below 10 years at account opening |
| Deposit period | Up to 15 years from account opening |
| Maturity period | 21 years from account opening |
| Account opening locations | Post offices and authorised banks |
| Interest credit | Annually |
| Government backing | Yes |
The current rate is confirmed by the Government of India’s small savings rate notification. However, 8.2% should not be treated as a guaranteed rate for the entire 21-year period. The government reviews the applicable rate every quarter.
Has the Sukanya Samriddhi Interest Rate Changed in October 2026?
No. The government retained the Sukanya Samriddhi Account interest rate at 8.2% for the October–December 2026 quarter.
The Department of Economic Affairs issued its small savings interest-rate notification on 30 September 2026, confirming that the rates for the third quarter of FY 2026–27 would remain unchanged from the previous quarter.
This means eligible SSY account holders continue to earn interest at the notified rate for the current quarter, subject to the scheme’s rules.
The next quarterly review will determine whether the rate changes for January–March 2027. Parents should check official notifications before relying on an interest rate for future deposits or maturity estimates.
For the latest announcements, visit the National Savings Institute website at https://www.nsiindia.gov.in/ or the Department of Economic Affairs website at https://dea.gov.in/.
What Is Sukanya Samriddhi Yojana?
Sukanya Samriddhi Yojana is a government-backed small savings scheme introduced to encourage financial planning for the future of girl children. The account is opened in the name of the girl child and operated by her parent or legal guardian while she is a minor, subject to the applicable rules.
The scheme is particularly useful for families that want to invest money regularly over a long period rather than depend entirely on savings accounts or short-term deposits.
One of its main attractions is the combination of a government-notified interest rate, long-term compounding and tax benefits under the applicable income-tax provisions.
However, SSY is not a general-purpose savings account. The money is subject to specific deposit, withdrawal and maturity rules. Families should therefore consider when they may need the funds before opening an account.
Who Is Eligible to Open a Sukanya Samriddhi Account?
The following conditions generally apply to SSY accounts.
Age requirement: The account can be opened in the name of a girl child who has not completed 10 years of age on the date of opening.
Account holder: The account belongs to the eligible girl child. A parent or legal guardian opens and operates it while she is a minor.
Number of accounts: Generally, one account can be opened for each eligible girl child, with accounts permitted for up to two girl children in a family. Special provisions apply in certain cases involving twins or multiple births.
Eligible locations: The account can be opened at an authorised post office or participating bank that offers the scheme.
Residency requirements: The scheme’s eligibility conditions must be satisfied. Families should check the applicable rules if the girl child or guardian’s residency status changes.
The account is not available to every child without conditions. Confirm the child’s date of birth and the required documents before submitting an application.
How Much Money Can You Deposit in Sukanya Samriddhi Yojana?
The SSY scheme allows a minimum annual deposit of ₹250 and a maximum annual deposit of ₹1.5 lakh.
Parents can choose an amount based on their household budget. They do not have to deposit the maximum amount every year, and monthly deposits are not compulsory.
For example, a family could contribute ₹500 per month, ₹2,000 per month or a larger amount, provided the total annual deposit remains within the permitted limit and the minimum annual requirement is met.
The following examples show how much a family would deposit over 15 years if it maintained the same contribution each year.
| Monthly saving | Annual deposit | Total deposited over 15 years |
|---|---|---|
| ₹500 | ₹6,000 | ₹90,000 |
| ₹1,000 | ₹12,000 | ₹1,80,000 |
| ₹2,500 | ₹30,000 | ₹4,50,000 |
| ₹5,000 | ₹60,000 | ₹9,00,000 |
| ₹12,500 | ₹1,50,000 | ₹22,50,000 |
These figures show contributions only. The final balance may be substantially higher because of interest earned over time.
Deposits exceeding the annual maximum do not earn interest under the scheme and are handled according to the applicable rules.
Sukanya Samriddhi Yojana Maturity Amount: How Much Can You Get?
The final SSY maturity amount depends on the amount deposited, the timing of contributions, the interest rates notified over the years and the duration for which the money remains invested.
Because the account earns compound interest, the balance can grow as interest accumulates on eligible deposits and previously credited interest.
For a simple illustration, suppose a parent deposits ₹1.5 lakh every year for 15 years, reaching the maximum permitted annual contribution. The total contribution would be ₹22.5 lakh.
If the account then remains invested until maturity, the balance can grow further during the remaining years. However, the final maturity value cannot be guaranteed using today’s 8.2% rate because the government may revise the rate during the account’s lifetime.
Parents should be cautious about online SSY calculators that show one precise maturity amount without explaining their interest-rate assumptions. A projection using a constant rate is an estimate, not an official promise of future returns.
Example: Saving ₹5,000 Per Month for Your Daughter
Suppose you save ₹5,000 per month, or ₹60,000 per year, for 15 years.
Your total contributions would be:
₹60,000 × 15 = ₹9,00,000.
The final maturity balance would include these contributions and the interest earned over the eligible period. Since deposits can continue for up to 15 years but maturity occurs after 21 years from account opening, the account may continue earning interest after contributions stop, according to the applicable rules.
This structure rewards early and consistent saving. Opening an account when the child is young gives the investment more time to accumulate interest.
How Is Sukanya Samriddhi Interest Calculated?
Interest under the SSY scheme is calculated monthly based on the lowest balance in the account between the fifth day and the end of the month. The interest is credited to the account annually.
This makes the timing of deposits important.
If you plan to deposit money each month, depositing it on or before the fifth day can help maximise the interest calculated for that month, assuming the funds are credited to the account in time.
For example, if you make a deposit early in the month, the amount may be included in the balance used for interest calculation for that month. If the deposit is made after the fifth day, that month’s interest calculation may not include the newly deposited amount.
Interest is generally added at the end of the financial year, so the credited interest becomes part of the account balance for subsequent calculations.
Always check the applicable scheme rules and your bank or post office’s transaction processing time.
How to Open a Sukanya Samriddhi Yojana Account Online or Offline
Parents can open an SSY account through a post office or an authorised bank that offers the scheme. The exact application process and available digital facilities vary by institution.
Step 1: Choose an Authorised Bank or Post Office
Visit a participating post office or bank branch. Check whether the institution accepts new Sukanya Samriddhi Account applications and confirm its document requirements.
Step 2: Obtain the Application Form
Request the Sukanya Samriddhi Account opening form. Fill in the girl child’s details, guardian information, address and other required particulars.
Step 3: Prepare the Required Documents
Commonly required documents include the following:
- Birth certificate of the girl child.
- Identity and address documents of the parent or legal guardian.
- Aadhaar and PAN details, or other documents required under the applicable KYC rules.
- Completed account-opening form.
- Initial deposit of at least ₹250.
The institution may request additional documents depending on the circumstances.
Step 4: Make the Initial Deposit
Deposit at least ₹250, subject to the scheme’s deposit rules. Keep the receipt or transaction confirmation for your records.
Step 5: Receive Your Account Details
Once the application is accepted and processed, the institution will provide account details or a passbook, depending on its procedures.
You can then make additional deposits through the channels permitted by the institution.
Can You Open an SSY Account Completely Online?
Some banks offer digital services for existing SSY account holders, including deposit facilities or standing instructions. However, full online account opening is not universally available in the same way across all institutions.
Contact your chosen bank or post office to confirm its current procedure rather than assuming that the entire process can be completed online.
Sukanya Samriddhi Yojana Tax Benefits
SSY is widely known for its tax advantages. Under the applicable tax provisions, eligible contributions may qualify for a deduction under Section 80C of the Income-tax Act, subject to the relevant conditions and the tax regime chosen by the taxpayer.
Interest earned under the scheme is tax-exempt under the applicable provisions, and qualifying maturity proceeds are also tax-exempt under the scheme’s tax treatment.
This is commonly described as an EEE benefit, referring to tax treatment at the investment, earnings and withdrawal stages.
However, tax deductions under Section 80C are generally associated with the old tax regime. Taxpayers using the new tax regime should not assume that the same deduction is available.
Before investing for tax planning, check the latest income-tax rules applicable to the relevant financial year or consult a qualified tax professional.
When Can You Withdraw Money From Sukanya Samriddhi Yojana?
SSY is a long-term savings scheme, so withdrawals are permitted only under specified conditions.
Partial Withdrawal for Higher Education
Eligible partial withdrawals may be allowed for the girl’s higher education when she reaches the prescribed age or completes the qualifying educational milestone under the scheme.
The withdrawal is generally capped at 50% of the balance available at the end of the preceding financial year, subject to the applicable rules and documentation.
The account holder may need to provide proof of admission or an educational fee requirement. The permitted amount is linked to the actual educational expenses and the scheme’s conditions.
Withdrawal at Maturity
The account generally matures 21 years after the date it was opened. The eligible account holder can claim the maturity proceeds according to the prescribed process.
Parents should distinguish between the deposit period and the maturity period. Contributions can be made for up to 15 years from opening, while the account’s maturity date is generally 21 years from opening.
Premature Closure for Marriage
Premature closure may be permitted under specified circumstances related to the account holder’s marriage after she reaches 18 years of age, subject to the applicable conditions and evidence.
Other exceptional closure provisions may apply in limited circumstances, such as the death of the account holder or specified compassionate grounds. These are governed by the scheme rules.
SSY should not be treated like an ordinary bank savings account because immediate withdrawals are not freely available.
What Happens If You Do Not Deposit the Minimum Amount?
The minimum annual contribution is ₹250. If the required amount is not deposited during a financial year, the account may become irregular or defaulted under the scheme rules.
Such an account can generally be regularised by paying the prescribed minimum deposit for each default year along with the applicable penalty, currently ₹50 for each year of default, subject to the rules in force.
For example, if an account misses the minimum contribution for two financial years, the guardian should contact the bank or post office to calculate the amount needed to regularise it.
Do not assume that missing a deposit automatically closes the account or permanently eliminates the accumulated balance. Ask the account-holding institution about the required steps.
To avoid irregularities, families can set a yearly reminder or arrange deposits through the facilities offered by their bank.
Sukanya Samriddhi Yojana vs PPF: Which Is Better?
Both SSY and the Public Provident Fund are government-backed savings schemes, but they serve different purposes.
| Feature | Sukanya Samriddhi Yojana | Public Provident Fund |
|---|---|---|
| Main purpose | Long-term savings for a girl child | General long-term savings |
| Current interest rate, Oct–Dec 2026 | 8.2% | 7.1% |
| Eligibility | Eligible girl child below age 10 at opening | Eligible individuals under PPF rules |
| Annual deposit limit | ₹1.5 lakh | ₹1.5 lakh |
| Main term | 21 years from opening | 15-year initial maturity period |
| Tax benefits | Subject to applicable tax provisions | Subject to applicable tax provisions |
| Withdrawal rules | Restricted, with specified education and other provisions | Separate partial withdrawal and loan rules |
The interest rates shown are the notified rates for the current quarter and can change in future periods.
SSY may suit parents who specifically want to build savings for their eligible daughter’s future and can accept the scheme’s restrictions. PPF may suit individuals seeking a broader long-term savings option.
Neither scheme is automatically the best choice for every family. Compare liquidity, investment objectives, tax treatment and the time when you expect to need the money.
Is Sukanya Samriddhi Yojana a Good Investment in 2026?
SSY can be a useful choice for families seeking a government-backed, long-term savings option for a daughter’s education or future expenses.
Its major strengths include a competitive notified interest rate, annual compounding, tax advantages under applicable provisions and a structure that encourages regular saving.
However, the scheme has limitations. Money is not freely accessible whenever needed, the interest rate can change, and the account’s maturity period is long.
Parents should first estimate future education expenses, household financial needs and emergency savings. SSY can form part of a broader financial plan, but it should not replace accessible emergency funds or other investments needed for different goals.
The most practical approach is to contribute an affordable amount consistently, review the government’s quarterly rate notifications and keep the account documents updated.
FAQs
What is the Sukanya Samriddhi Yojana interest rate in October 2026?
The SSY interest rate is 8.2% per annum for the October–December 2026 quarter. The government reviews small savings scheme rates quarterly.
What is the minimum deposit for Sukanya Samriddhi Yojana?
The minimum deposit is ₹250 per financial year. The account must meet the prescribed annual contribution requirements.
What is the maximum SSY deposit per year?
The maximum permitted deposit is ₹1.5 lakh per financial year. Excess deposits do not earn interest under the scheme.
At what age can a girl open an SSY account?
A parent or legal guardian can open the account in the girl’s name before she completes 10 years of age.
How many years does Sukanya Samriddhi Yojana take to mature?
The account generally matures 21 years after the date it was opened. Deposits can be made for up to 15 years from opening.
Can I deposit ₹5,000 every month in SSY?
Yes. Depositing ₹5,000 monthly amounts to ₹60,000 annually, which is within the ₹1.5 lakh annual limit.
Is Sukanya Samriddhi Yojana tax-free?
Eligible SSY contributions, interest and maturity proceeds receive favourable tax treatment under the applicable provisions. The availability of deductions depends on the taxpayer’s circumstances and the tax regime.
Can I withdraw money from SSY before maturity?
Partial withdrawals may be allowed for qualifying higher-education expenses under the scheme’s rules. Premature closure is permitted only in specified circumstances.
Can I open two Sukanya Samriddhi accounts for two daughters?
Generally, an eligible family can open one account for each of up to two girl children, with specified exceptions for certain multiple-birth situations.
Will the SSY interest rate remain 8.2% for the next 21 years?
No future rate should be assumed. The government reviews the rate quarterly, so the rate may change during the account’s lifetime.
Conclusion
The Sukanya Samriddhi Yojana interest rate remains at 8.2% per annum for October–December 2026, making it an option worth considering for parents planning their daughter’s long-term financial future.
With a minimum annual deposit of ₹250, a maximum of ₹1.5 lakh and a maturity period of 21 years, the scheme supports disciplined saving over time. Its potential tax benefits and government-backed structure are additional advantages for eligible families.
Before opening an account, understand the contribution limits, withdrawal restrictions, tax rules and possibility of future interest-rate changes. Regular contributions and a realistic financial plan can help you build savings for your daughter’s education and other important milestones.
