Sukanya Samriddhi Yojana 2026 – Interest Rate, Calculator & Complete Benefits Guide
Sukanya Samriddhi Yojana (SSY) is one of the highest-paying small-savings schemes in India, designed exclusively for the girl child. At an interest rate of 8.2% per annum for Q1 FY 2026-27, with full tax exemption under Section 80C, SSY easily beats most fixed deposits and even PPF. This 2026 guide explains eligibility, deposit rules, real maturity calculations and how to open the account at a post office or bank.
What Is Sukanya Samriddhi Yojana?
Launched on 22 January 2015 under the "Beti Bachao Beti Padhao" mission, SSY is a long-term, government-backed savings scheme for the financial security of a girl child. Parents/guardians can open one SSY account per girl child (max two daughters, three if twins) and deposit between ₹250 and ₹1.5 lakh per year for 15 years. The account matures after 21 years from opening — long enough to fund higher education or marriage.
SSY Interest Rate History
| Quarter | Interest Rate |
|---|---|
| Q1 FY 2023-24 (Apr-Jun 2023) | 8.0% |
| Q4 FY 2023-24 (Jan-Mar 2024) | 8.2% |
| Q1 FY 2024-25 onwards | 8.2% |
| Q1 FY 2025-26 onwards | 8.2% |
| Q1 FY 2026-27 (Apr-Jun 2026) | 8.2% |
Interest is compounded yearly. Rates are reviewed every quarter by the Ministry of Finance based on G-Sec yields.
Eligibility & Rules
- The girl child must be a resident Indian.
- Age of girl at account opening: 0 to 10 years.
- One account per girl; up to 2 girls per family (3 if second birth gives twins/triplets).
- Account can be opened by parent or legal guardian.
- Account stays operational till 21 years from opening OR till marriage of the girl after 18 years, whichever earlier.
Documents Needed to Open SSY Account
- Sukanya Samriddhi Account opening form (SSA-1)
- Birth certificate of the girl child
- Aadhaar & PAN of parent/guardian
- Address proof of guardian
- Photographs of girl and depositor
- For twins/triplets — medical certificate
Where to Open the Account
You can open an SSY account at:
- Any India Post / Post Office
- State Bank of India (SBI) & subsidiaries
- PNB, Bank of Baroda, Canara Bank, Bank of India, IDBI, Union Bank, Indian Bank, etc.
- HDFC Bank, ICICI Bank, Axis Bank also offer SSY
Deposit & Withdrawal Rules
- Minimum deposit: ₹250 per year
- Maximum deposit: ₹1,50,000 per year (combined for all SSY accounts of family)
- Deposit tenure: 15 years from account opening
- Account maturity: 21 years from opening
- Partial withdrawal: Up to 50% of previous year's balance after girl turns 18, for higher education or marriage
- Premature closure: Only on death of account holder, life-threatening illness or compassionate grounds; or 5 years after opening
- Default account: If you skip the ₹250 minimum in any year, account becomes "default" with ₹50 penalty per year; can be revived
Tax Benefits – EEE Status
SSY enjoys EEE (Exempt-Exempt-Exempt) status under the old tax regime:
- Deposits qualify for deduction up to ₹1.5 lakh under Section 80C.
- Interest earned is fully tax-free.
- Maturity amount (principal + interest) is tax-free in the hands of the girl child.
Note: 80C is not available under the new tax regime, so the deduction benefit only applies if you choose the old regime.
SSY Calculator – Maturity Examples at 8.2%
Assuming you deposit the same amount every year for 15 years (deposit phase) and let the account compound for another 6 years till maturity at 21 years:
| Annual Deposit | Total Invested in 15 yrs | Approx Maturity @ 8.2% |
|---|---|---|
| ₹12,000 (₹1,000/mo) | ₹1,80,000 | ~₹5,55,000 |
| ₹36,000 (₹3,000/mo) | ₹5,40,000 | ~₹16,62,000 |
| ₹60,000 (₹5,000/mo) | ₹9,00,000 | ~₹27,71,000 |
| ₹1,00,000 | ₹15,00,000 | ~₹46,18,000 |
| ₹1,50,000 (max) | ₹22,50,000 | ~₹69,27,000 |
Figures are indicative — actual amount varies slightly based on deposit dates and quarterly rate changes.