Sukanya Samriddhi Yojana (SSY) 2026

What is the Sukanya Samriddhi Yojana (SSY)?

Sukanya Samriddhi Yojana is a small savings scheme launched by the Government of India specifically for girl children. Unlike traditional insurance products, SSY is a government-backed savings account that allows parents or legal guardians to deposit funds starting from as little as ₹250 per year, with a maximum limit of ₹1.5 lakh annually.

The sukanya samriddhi yojana account operates on the principle of compound interest over 21 years, meaning your money not only grows through regular deposits but also through annually compounded interest that continues even after you stop making contributions. This makes SSY particularly attractive for long-term wealth creation.

Key Distinction: SSY is NOT an insurance product or investment in mutual funds. It is a guaranteed savings scheme backed by the Government of India, similar to PPF (Public Provident Fund) but specifically designed for girl children and offering a higher interest rate.

Sukanya Samriddhi Yojana Interest Rate 2026

Currently, SSY gives you 8.2% interest every year.

How does the interest work? The bank looks at your lowest balance each month and pays you interest on that amount. You get the interest money added to your account once a year, on March 31. The government checks and changes the rate every three months. They look at how government bonds are performing and decide if they should raise or lower the SSY rate.

Historic Rates of SSY

Looking at the historical data over the last 10 years, here's how the Sukanya Samriddhi Yojana rate of interest has evolved

How SSY Interest Rate Compares to Other Schemes

SSY gives you 8.2% interest. Let's see how the Sukanya Samriddhi Yojana rate of interest compares to other savings options.

Sukanya Samriddhi Yojana Calculator: Real Examples

Want to know how much money you'll actually get using an SSY Calculator? Let's look at some real examples. Let's see how your deposits grow year by year over the 21 years, and you'll see exactly how much interest you earn.

How the Calculation Works

The SSY maturity amount is calculated using the compound interest formula:

Example 1: ₹1 Lakh Yearly Deposit

Let's assume you deposit ₹1 lakh every year for 15 years, starting when your daughter is 2 years old. The interest rate remains constant at 8.2% p.a.

The calculation works like this:

Year 1 Deposit: ₹1,00,000 compounds for 21 years (from deposit in Year 1 to maturity in Year 21) Final Value: ₹1,00,000 × (1.082)^20 = ₹4,81,78,000 (approximately)

Year 2 Deposit: ₹1,00,000 compounds for 20 years Final Value: ₹1,00,000 × (1.082)^19 = ₹4,45,27,000 (approximately)

Year 3 Deposit: ₹1,00,000 compounds for 19 years Final Value: ₹1,00,000 × (1.082)^18 = ₹4,11,60,000 (approximately)

And so on through Year 15, with the last deposit compounding for only 7 years.

Total Calculation For ₹1 Lakh Yearly Deposit:

Total Invested over 15 years: ₹15 lakh Total Maturity Amount (after 21 years): Approximately ₹46-48 lakh Total Interest Earned: Approximately ₹31-33 lakh

This represents a 3x multiplication of your principal, demonstrating the power of compound interest over a 21-year period.

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Example 2: ₹1.5 Lakh Yearly Deposit (Maximum)

If you maximize your annual contribution at ₹1.5 lakh per year:

Total Invested over 15 years: ₹22.5 lakh Total Maturity Amount (after 21 years): Approximately ₹69-71 lakh Total Interest Earned: Approximately ₹46-48 lakh

This is a realistic growth scenario that many middle-class Indian families use SSY for — investing ₹1.5 lakh annually gives you roughly ₹70 lakh at maturity, enough to cover a daughter's higher education and wedding expenses combined.

Example 3: ₹50,000 Yearly Deposit (Moderate)

For a middle-income family:

Total Invested over 15 years: ₹7.5 lakh Total Maturity Amount (after 21 years): Approximately ₹23-24 lakh Total Interest Earned: Approximately ₹16 lakh

Even with a modest deposit, SSY delivers significant returns due to the long compounding period.

Example 4: Year-By-Year Breakdown (₹1 Lakh Deposit)

To show how the account grows year by year, here's a detailed table assuming ₹1 lakh deposited every year:

By maturity (Year 21), with ₹1 lakh yearly deposits for 15 years, your account grows to approximately ₹45.98 lakh. This demonstrates how even after deposits stop at Year 15, the account continues earning substantial interest for the remaining 6 years.

Example 5: SSY Monthly Deposit Maturity Table (₹2,000 Monthly Deposit)

To show how the account grows year by year, here's a detailed table assuming ₹2,000 deposited every month (₹24,000 per year):

SSY Eligibility Criteria: Who Can Open An Account?

Not everyone can open an SSY account. The scheme has specific eligibility requirements set by the Government of India.

Girl Child Eligibility

• The girl child must be below 10 years of age at the time of account opening (from birth until the day before she turns 10 years old)
• The girl must be a resident Indian at the time of opening the account
• An account can be opened as early as the child's birth — in fact, the earlier you start, the better the compounding effect
• The account is opened in the girl's name and will be managed by parents or guardians until she turns 18

What are the Sukanya Samriddhi Yojana Deposit Rules?

Here's everything you need to know about SSY deposits in 2026.

1. Minimum And Maximum Deposit Limits

   Deposit Rule	Detail
   Minimum Annual Deposit	₹250 per financial year (April to March)
   Maximum Annual Deposit	₹1.5 lakh per financial year
   Deposit Multiples	Must be in multiples of ₹50 (₹250, ₹300, ₹1,000, ₹1,50,000 are valid; ₹1,000.50 is not)
   Deposit Frequency	Monthly, quarterly, half-yearly, lump sum, or any number of deposits in a year
   If Below Minimum	Depositing less than ₹250 in any financial year classifies the account as "under default"

2. Deposit Period

   Deposits are mandatory only for the first 15 years from the date of account opening. After 15 years:

   • You are not required to make any further deposits
   • The balance continues to earn interest at 8.2% p.a. until maturity (21 years)
   • You can withdraw up to 50% of the balance after the girl turns 18 for higher education

   If you choose to continue making deposits after 15 years, you can, but they are not recommended because the account will mature at 21 years anyway.

What Happens If You Miss The Minimum Deposit?

If you fail to deposit at least ₹250 in a financial year, your account becomes "Account under Default." Here's how to resolve it:

Penalty Structure:

• ₹50 penalty per missed year
• Must pay the minimum ₹250 deposit for the missed year
• Can be regularized anytime before the 15-year deposit period ends (i.e., within 15 years of account opening)

Example: If you open the account in April 2020 and miss deposits for FY 2021-22 and FY 2022-23 (2 years), you would need to pay:

• Missed year 1: ₹250 + ₹50 penalty = ₹300
• Missed year 2: ₹250 + ₹50 penalty = ₹300
• Total regularization: ₹600 (assuming you regularize before 15 years)

The good news: Interest continues to be credited on the balance even if the account is under default. The account doesn't close; it just stops being in good standing.

Maximum Deposit Rule

Any deposit exceeding ₹1.5 lakh in a financial year:

• Will NOT earn interest
• Will NOT be allowed as a deduction under Section 80C
• Will be immediately refunded to the depositor

This is an important safeguard to prevent over-contributions.

Sukanya Samriddhi Yojana Maturity, Withdrawal & Closure Rules

When your daughter grows up, you need to know what happens to the SSY account. Let me explain the key points.

Sukanya Samriddhi Yojana Tax Benefits: Section 80C & EEE Status

Below are the Sukanya Samriddhi Yojana benefits with respect to taxation:

Triple Tax Exemption (EEE Status)

SSY enjoys Exempt-Exempt-Exempt (EEE) tax status, the most favorable classification for any savings scheme in India. This means:

1. Exempt On Deposits (Section 80C)

   • Annual SSY deposits up to ₹1.5 lakh qualify for a tax deduction under Section 80C
   • If you deposit ₹1.5 lakh in SSY, you get a ₹1.5 lakh deduction from your taxable income
   • This applies per financial year, so in a high-income year, you can claim ₹1.5 lakh deduction

   Tax Saving Calculation:

   • If you're in the 30% income tax bracket and deposit ₹1.5 lakh in SSY
   • Tax saving = ₹1.5 lakh × 30% = ₹45,000 per year
   • Over 15 years of deposits, potential tax savings = ₹45,000 × 15 = ₹6,75,000
   Read more

2. Exempt On Interest (Section 10)

   • All interest earned on SSY deposits is fully tax-exempt
   • Unlike fixed deposits where interest is added to your taxable income, SSY interest never shows up on your income tax return
   • This is significant over 21 years — you can earn ₹30-50 lakh in interest completely tax-free

3. Exempt On Maturity (Section 10(10D))

   • The final maturity amount (principal + all accumulated interest) is fully tax-exempt
   • You receive the entire amount without any TDS (Tax Deducted at Source)
   • This is true even if the maturity amount is several lakh rupees

4.  Interest On Sukanya Samriddhi Yojana Exempt Under Section 10 11A

   • The interest on Sukanya Samriddhi Yojana is exempt under Section 10 11A of the Income Tax Act, 1961, which is the specific provision that makes the annual interest tax-free

   • Every year, the interest gets credited to the account and compounds, and not a single rupee of it is added to your taxable income because of Section 10 11A

   • The same section also covers the withdrawal amount, so both partial withdrawals (allowed after the girl turns 18 for education or marriage) and the full maturity payout stay tax-free

   • To keep this benefit intact, you need to follow the scheme rules, such as opening the account before the girl child turns 10 and keeping deposits within the ₹1.5 lakh yearly cap

   • For example, if Meena opens an SSY account for her daughter and earns ₹6 lakh in interest over the tenure, that full ₹6 lakh is exempt under Section 10 11A, and she pays zero tax on i

   Read more

Comparison With Other Section 80C Investments

Here's how SSY stacks up against other Section 80C investment options:

• SSY: ₹1.5 lakh/year deduction limit, Interest tax-free, Maturity tax-free, For girl child only
• PPF: ₹1.5 lakh/year deduction limit, Interest tax-free, Maturity tax-free, For any citizen
• ELSS Mutual Funds: ₹1.5 lakh/year deduction limit, Interest taxable, Maturity taxable, For any investor
• Life Insurance Premiums: ₹1.5 lakh/year deduction limit, N/A, Tax-free (if qualified), For any person
• NSC (National Savings Certificate): ₹1.5 lakh/year deduction limit, Interest taxable, Interest taxable, For any investor
• Fixed Deposits: ₹1.5 lakh/year deduction limit, Interest taxable, For any investor

As shown, SSY's complete tax exemption makes it superior to most other Section 80C investments.

Banks Offering SSY

SSY Calculators

Indian Overseas Bank Sukanya Samriddhi Yojana

IndusInd Bank Sukanya Samriddhi Yojana

Yes Bank Sukanya Samriddhi Yojana

Bank of India Sukanya Samridhi Yojana

Kotak Bank Sukanya Samriddhi Account

Bank of Maharashtra Sukanya Samriddhi Yojana

Andhra Bank Sukanya Samriddhi Account

UCO Bank Sukanya Samriddhi Yojana

IDBI Bank Sukanya Samriddhi Yojana

Allahabad Bank Sukanya Samriddhi Yojana

Central Bank of India Sukanya Samriddhi Yojana

Indian Bank Sukanya Samriddhi Yojana

Union Bank of India Sukanya Samriddhi Yojana

Axis Bank SSY (Sukanya Samriddhi Yojana)

Canara Bank Sukanya Samriddhi Yojana

PNB Bank SSY (Sukanya Samriddhi Yojana)

Bank of Baroda Sukanya Samriddhi Yojana

ICICI Bank Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana HDFC

SBI Sukanya Samriddhi Yojana

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Indian Bank- Sukanya Samriddhi Yojana Calculator

Sukanya Samriddhi Yojana- Central Bank of India Calculator

Canara Bank- Sukanya Samriddhi Yojana Calculator

Bank of Maharashtra- Sukanya Yojana Calculator

Sukanya Samriddhi Yojana Calculator Bank of India

Sukanya Samriddhi Yojana Calculator - Union Bank

Sukanya Samriddhi Yojana Calculator-UCO Bank

Sukanya Samriddhi Yojana Calculator - State Bank of India

Sukanya Samriddhi Yojana Calculator – Punjab National Bank

Sukanya Samriddhi Yojana Calculator - Indian Overseas Bank

Sukanya Samriddhi Yojana Calculator - Bank of Baroda

Sukanya Samriddhi Yojana Calculator ICICI

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How To Open A Sukanya Samriddhi Yojana Account

Opening an SSY account is straightforward and can be done at most banks and post offices across India. Here's the complete step-by-step process.

STEP 1: GATHER REQUIRED DOCUMENTS

Before visiting the bank or post office, collect the following documents:

For the Girl Child:

• Birth Certificate (original or certified copy)
• Aadhaar Card (if available)

STEP 2: COMPLETE THE APPLICATION FORM

Download or collect Form SSA-1 (Post Office) or Form-1 (Banks) from the respective branch. Fill out the following details carefully:

Application Details:

• Full name of the girl child (exactly as on birth certificate)
• Date of birth of the girl child
• Place of birth
• Aadhaar number (if available)

STEP 3: CHOOSE YOUR DEPOSIT MODE

Decide how you will make the first deposit:

• Cash (bring exact amount)
• Cheque (made payable to yourself)
• Demand Draft (obtained from your bank)
• Online Transfer (for bank accounts)

STEP 4: VISIT THE BANK OR POST OFFICE

Approach any authorized institution:

Post Office SSY Accounts:

• Visit your nearest post office
• Look for the SSY section
• Approach the counter executive
• Submit the filled Form SSA-1 along with all documents

Bank SSY Accounts: Banks offering SSY include:

• State Bank of India (SBI)
• ICICI Bank
• HDFC Bank
• Axis Bank

Visit your nearest branch, approach the investment or savings account counter, and submit the application.

STEP 5: VERIFICATION AND ACCOUNT OPENING

The bank/post office will:

• Verify all your documents
• Cross-check the girl's birth certificate with Aadhaar details
• Verify the guardian's identity and address
• Conduct e-KYC (Aadhaar-based verification) if available
• Process your initial deposit
• Generate the SSY passbook

Timeframe: Account opening typically takes 3-5 working days after submission.

STEP 6: RECEIVE YOUR PASSBOOK

Once verified, you'll receive:

• SSY Passbook containing account details, account number, IFSC code, girl's name, guardian's name, nominee information, and maturity date
• A deposit receipt for the initial payment
• Account opening certificate

STEP 7: SET UP FUTURE DEPOSITS

After account opening, decide on your deposit strategy:

• Monthly deposits via standing instruction (auto-transfer from your bank account)
• Quarterly/half-yearly deposits at the branch
• Annual lump-sum deposits before March 31 each year

Opening SSY Account Online In 2026

As of May 2026: You can't open an SSY account completely online right now. You have to go to a bank or post office in person to open it. Once it's open, you can add money online.

1. India Post Payments Bank (IPPB) App:

   If you opened it at the post office, download the India Post Payments Bank app. Sign in with your Aadhaar number. Then you can send money using UPI or online transfer. You can also set it up so money goes in automatically every month. Check your balance whenever you want in the app.

2. Bank Online/Mobile Banking:

   If you opened it at a bank like SBI or HDFC, use their app instead. SBI calls theirs YONO. You can add money, set up monthly transfers, and see your balance anytime.

   So you need to visit in person first. After that, everything is online and automatic.

Sukanya Samriddhi Yojana vs Mutual Funds

Below is a table showing how mutual funds differ from SSY: 

Sukanya Samriddhi Yojana Vs Public Provident Fund (PPF) Vs Fixed Deposit

Important SSY Forms and Sukanya Samriddhi Yojana Documents

The government has 15 forms for different SSY situations. Here are the important Sukanya Samriddhi Yojana documents:

You can find all these forms on nsiindia.gov.in. Download them, fill them out, and submit to your bank or post office.