What is the current SSY interest rate in April 2026?

The current Sukanya Samriddhi Yojana interest rate is 8.2% per annum, compounded annually, for April–June 2026. The rate is notified by the Government every quarter and can change in future quarters.

Is SSY tax-free in 2026?

SSY continues to enjoy EEE tax treatment. Contributions qualify for deduction under Section 80C up to ₹1.5 lakh under the old tax regime, interest earned is tax-free, and the maturity amount is also tax-free.

Is SSY available under the new tax regime?

You can still invest in SSY under the new tax regime, but the Section 80C deduction is not available. The interest and maturity amount remain tax-free as per scheme rules.

Who can open an SSY account?

A parent or legal guardian can open an SSY account for a resident Indian girl child before she turns 10 years old. A family can usually open up to two accounts, one for each eligible girl child, with exceptions for twins or triplets as per rules.

Can NRI parents open an SSY account?

SSY is meant for resident Indian girl children. If residency status changes later, treatment of the account depends on the applicable scheme rules and notifications in force at that time, so you should confirm with the bank or post office before taking action.

What is the minimum and maximum deposit in SSY?

The minimum deposit is ₹250 per financial year and the maximum deposit is ₹1.5 lakh per financial year. Deposits are required only for the first 15 years from account opening.

What happens if I miss the minimum SSY deposit in a year?

If the minimum deposit is not made in a financial year, the account becomes irregular. It can usually be revived by paying the minimum amount due along with the prescribed penalty, subject to the applicable rules at the time of revival.

When can I make partial withdrawal from SSY?

Partial withdrawal is allowed for higher education after the girl turns 18 years old or passes the 10th standard, whichever condition is satisfied as per applicable rules. Up to 50% of the balance at the end of the preceding financial year can be withdrawn.

Do I need to deposit every year for 21 years?

No. Deposits are required only for the first 15 years. After that, the account continues to earn interest until maturity at 21 years from the date of opening.

Can SSY be transferred from post office to bank?

Yes. The SSY account can generally be transferred between a post office and an authorised bank, or between branches, anywhere in India subject to the transfer process and documentation.

What documents are required to open an SSY account?

Commonly required documents include the girl child’s birth certificate, guardian’s Aadhaar, PAN, address proof, photographs, and the duly filled account opening form. Individual banks or post offices may ask for additional KYC documents.

Is SSY better than PPF or FD for a girl child?

SSY offers a higher interest rate than PPF at present and typically better post-tax outcomes than many bank FDs because SSY interest and maturity are tax-free. However, it also comes with stricter purpose and tenure conditions, so the best option depends on your goal and liquidity needs.

Government Scheme • 2026

Sukanya Samriddhi Yojana 2026: Interest Rate, Rules, Tax Benefits & Calculator

16 Min ReadUpdated: April 09, 2026 Verified by Fincado Research Team

Sukanya Samriddhi Yojana 2026 illustration

Sukanya Samriddhi Yojana (SSY) remains one of India’s most useful government-backed savings schemes for a girl child in 2026. It currently offers 8.2% annual interest, sovereign backing, and EEE tax treatment. This guide explains how SSY works, who can open it, deposit rules, tax benefits, partial withdrawal, maturity, and when SSY is better than PPF, FD, or mutual funds.

Contents

1.What is SSY?
2.Latest Updates
3.Eligibility & Account Rules
4.Old vs New Tax Regime
5.Deposit Limits & Rules
6.Current Interest Rate
7.Who Should Open SSY?
8.How to Open SSY Account
9.Documents Required
10.Withdrawal & Maturity Rules
11.Tax Benefits
12.SSY vs PPF vs FD vs SIP
13.Safety + Growth Strategy
14.Maturity Examples
15.FAQs

What is Sukanya Samriddhi Yojana?

Sukanya Samriddhi Yojana is a government-backed small savings scheme for a girl child. It is designed to help families build a long-term corpus for education and marriage while enjoying sovereign safety and tax advantages.

Current Interest Rate
8.2% p.a. (government notified, not permanent)

Maturity
21 years from account opening

Annual Deposit
₹250 to ₹1.5 lakh

Tax Status
EEE; 80C deduction under old regime

Latest Updates – April 2026

Current SSY interest rate remains 8.2% for April–June 2026.
No change in annual deposit limits of ₹250 minimum and ₹1.5 lakh maximum.
EEE tax treatment continues; 80C deduction remains relevant under the old tax regime.
Partial withdrawal rules and maturity tenure remain unchanged.

Eligibility & Account Rules

Girl Child — Account must be opened before she turns 10 years old.

Guardian — Parent or legal guardian opens and manages the account until the girl becomes eligible to operate it.

Residency — Intended for resident Indian girl children under applicable rules.

Family Limit — Usually up to 2 accounts; exceptions may apply in the case of twins or triplets as per proof requirements.

SSY & Tax Regime: Old vs New

SSY can be opened under either regime, but the Section 80C deduction is relevant only under the old tax regime.

Aspect	Old Tax Regime	New Tax Regime
Can you invest in SSY?	Yes	Yes
80C deduction on contribution	Allowed up to ₹1.5L	Not available
Interest earned	Tax-free	Tax-free
Maturity amount	Tax-free	Tax-free

Deposit Limits & Rules

Minimum Deposit

₹250

Per financial year. If missed, revival may require the prescribed penalty and pending minimum deposit.

Maximum Deposit

₹1.5 Lakh

Per financial year. Contribution qualifies for Section 80C only under the old tax regime.

Important: Deposits are required only for the first 15 years. The account continues earning interest until completion of 21 years from opening.

Current Interest Rate (8.2%)

8.2% p.a. compounded annually for April–June 2026

Quarter	Interest Rate
Apr–Jun 2026	8.2%
Jan–Mar 2026	8.2%
Since Jan 2024	8.2%

The government reviews small savings rates every quarter. Future SSY returns depend on the notified rate applicable during each period.

Calculate Your SSY Maturity

Who Should Open SSY?

Good fit for

Parents wanting sovereign-backed savings for a girl child
Families prioritising capital safety over high market-linked returns
Investors using the old tax regime and looking for 80C deduction
Long-term goals like higher education or marriage corpus
Conservative investors who want guaranteed-style small savings exposure

May not suit if

You need high liquidity or flexible withdrawals
You prefer market-linked wealth creation over fixed-rate savings
You are already in the new tax regime and only want tax deductions
Your goal is not specifically linked to a girl child corpus
You want a product without long tenure or usage conditions

How to Open SSY Account (Step-by-Step)

1
Visit any Post Office or authorised bank branch offering SSY accounts.
2
Fill the SSY account opening form with details of the girl child and guardian.
3
Submit the required KYC and birth documents.
4
Make the initial deposit of at least ₹250.
5
Collect the passbook or acknowledgement and set a yearly deposit reminder.

Documents Required

Girl child’s birth certificate
Guardian’s Aadhaar card
Guardian’s PAN card
Address proof
Passport-size photographs
SSY account opening form

Withdrawal & Maturity Rules

Partial Withdrawal for Education — Up to 50% of the balance at the end of the preceding financial year can be withdrawn for higher education, subject to the applicable age/education conditions and documentation.

Premature Closure — Allowed in specified situations such as marriage after the eligible age or other conditions permitted under scheme rules, with required proof.

Full Maturity — The account matures after 21 years from the date of opening, and the entire maturity amount is generally payable tax-free under prevailing rules.

Example: If the balance at the end of the previous financial year was ₹20 lakh, the maximum partial withdrawal allowed for education would generally be up to ₹10 lakh, subject to documentation and eligibility.

Tax Benefits – EEE Status

ContributionSection 80C deduction up to ₹1.5 lakh (old regime)
Interest Earned100% Tax-Free
Maturity Amount100% Tax-Free

SSY vs PPF vs FD vs Equity SIP (2026)

Feature	SSY	PPF	Bank FD	Equity SIP
Return Type	Government-notified	Government-notified	Fixed by bank	Market-linked
Indicative Return	8.2%	7.1%	6.5–7.5%	10–14% long term (not guaranteed)
Risk	Very Low / Sovereign-backed	Very Low	Low	Medium to High
Lock-in / Tenure	21 years	15 years	Depends on FD	None
Tax Treatment	EEE	EEE	Interest taxable	Capital gains tax applies
Best Use Case	Girl child long-term corpus	General long-term tax saving	Shorter conservative parking	Long-term wealth growth

A Balanced Safety + Growth Strategy

A practical way to use SSY is to combine it with equity investing instead of relying on just one product. For example, you can allocate a part of the annual savings to SSY for certainty and the rest to equity SIPs for long-term growth.

Illustration:
SSY for the “safe core” of the child corpus.
Equity SIPs for inflation-beating growth over 15–18 years.
This works best for parents who want both predictability and upside.

Maturity Corpus Examples @ 8.2%

Annual Deposit	Total Invested (15 years)	Estimated Maturity Amount (21 years)
₹50,000	₹7.5 Lakh	~₹23–24 Lakh
₹1,00,000	₹15 Lakh	~₹47–48 Lakh
₹1,50,000	₹22.5 Lakh	~₹71–72 Lakh

These are indicative illustrations assuming the notified rate remains unchanged for simplicity. Actual maturity depends on the interest rate applicable in each quarter over the account tenure.

Frequently Asked Questions

Plan Your Daughter’s Corpus With More Clarity

Use the SSY calculator for guaranteed-scheme planning and compare it with SIP growth for a balanced strategy.

SSY Calculator 2026 SIP Calculator PPF Guide

Fincado Research Team

Reviewed

This content is prepared and reviewed using RBI circulars, official lender disclosures, and current Indian tax references. Numbers are educational estimates, not personalized advice.

Last Reviewed

Apr 2026

Method

Source cross-check and periodic QA

Risk Notice

Actual outcomes can vary by borrower profile, bank policy, market conditions, and future rule changes. Validate important decisions with a certified professional.

Editorial Policy Disclaimer Contact Team

Disclaimer: Interest rates, eligibility conditions and withdrawal rules are subject to change based on Government notifications and scheme rules. Tax treatment depends on the prevailing law and your chosen tax regime; the Section 80C deduction is relevant only under the old tax regime. This guide is for educational purposes only and should not be treated as personalised financial or tax advice.