Sukanya Samriddhi Yojana (SSY): Rules, 8.2% Interest & Calculation (2026)
Sukanya Samriddhi Yojana (SSY) is a dedicated sovereign savings scheme launched under the Beti Bachao Beti Padhao campaign for the financial security of girl children, offering a competitive 8.20% annual interest rate compounded yearly. It enjoys complete Exempt-Exempt-Exempt (EEE) tax status and requires deposits for only 15 years, while continuing to earn interest until full maturity after 21 years (or the girl's marriage after age 18).
An SSY account can be opened in any post office or authorized commercial bank by natural or legal guardians from the birth of the girl child until she attains 10 years of age.
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Key SSY Operational Specifications
| Parameter | Statutory Rule |
|---|---|
| Current Interest Rate | 8.20% per annum (Compounded Annually) |
| Eligibility Window | From birth up to 10 years of age |
| Account Limit | Maximum 1 account per girl, up to 2 girls per family (triplets/twins exempt) |
| Minimum Deposit | ₹250 per financial year |
| Maximum Deposit | ₹1,50,000 per financial year |
| Deposit Duration | 15 Years from date of account opening |
| Maturity Period | 21 Years from date of account opening |
| Tax Status | EEE (Contribution, Interest, and Maturity 100% Tax-Free) |
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Worked Example: Investing ₹1.5 Lakh Annually for 15 Years
Suppose a parent opens an SSY account upon the birth of their daughter and deposits the maximum ₹1,50,000 before April 5th every year for 15 consecutive years at the prevailing 8.20% interest rate:
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Withdrawal Rules for Higher Education & Marriage
1. Higher Education Withdrawal: Once the girl child attains 18 years of age (or passes Class 10), up to 50% of the balance available at the end of the preceding financial year can be withdrawn to pay for university tuition or college fees.
2. Closure on Marriage: The account can be closed early upon marriage after attaining age 18, upon furnishing an affidavit confirming her age.
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Frequently Asked Questions
What happens if I miss the minimum deposit in a year?
If the minimum annual deposit of ₹250 is not paid, the account is deemed "in default". It can be regularized within the 15-year deposit window by paying a nominal penalty fee of ₹50 per default year along with the minimum ₹250 deposit for each lapsed year.Who operates the account when the girl turns 18?
Upon reaching age 18, the girl child becomes the sole operator of the account after completing KYC documentation with the post office or bank branch.⚡ Try the Interactive Tool
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