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Sukanya Samriddhi Yojana (SSY)

Government of India — small savings scheme · Government & Post Office Schemes

A long-term account opened for a girl child, funded for 15 years and maturing 21 years after opening.

8.20% Interest rate · Notified quarterly; current for Oct–Dec 2026

As of 1 Oct 2026. Rates change — check the source before acting.

Source: National Savings Institute · confirmed via Outlook Money, 1 October 2026

Source India Post — saving schemes

www.indiapost.gov.in/banking-services/savings

The official page listing every post office savings scheme, with the current rates and rules.

How it works

Sukanya Samriddhi Yojana (SSY) is a government schemes product from Government of India — small savings scheme, in the guaranteed category: fixed by contract. A long-term account opened for a girl child, funded for 15 years and maturing 21 years after opening.

Because the return type is guaranteed, the questions that matter most are: Is the rate fixed for the whole tenure, or revised during it? Who is actually promising to pay, and what happens if they don't?

  • Building a corpus for higher education
  • A long-term, tax-free commitment with a low entry point

Key facts

Provider
Government of India — small savings scheme
Source
India Post — saving schemes ↗ https://www.indiapost.gov.in/banking-services/savings
Rate
8.20% Interest rate, as of 1 Oct 2026
Category
Government & Post Office Schemes
Minimum investment
₹250 per financial year; maximum ₹1.5 lakh a year
Tenure
21 years from opening
Payout
At maturity
Eligibility
A parent or guardian may open one account for a girl child below 10. Normally limited to two accounts per family, with exceptions.
Getting your money back
Deposits run for 15 years. From age 18, up to half the balance can be withdrawn for education. Otherwise the account matures at 21 years, or on marriage after 18.
Protection
A sovereign liability of the Government of India.
Tax
Contributions qualify for a deduction under Section 80C. Interest and the maturity amount are exempt, subject to the account being run within the rules.

What can go wrong

  • The account runs for 21 years, so the money is effectively unavailable for most of childhood.
  • Only one account per girl, and normally two per family, which caps the amount that can be saved.
  • Partial withdrawal is limited to education and comes with documentation requirements.

Before you decide anything

  • The documentation needed to open and later withdraw for education
  • What happens if a deposit is missed in a year

These are questions to take to the provider, not a checklist that makes a product suitable. Whether something fits your situation is a decision only you — or an adviser you choose — can make.

Official sources

These link to the regulator or provider where the rules for this type of product are set out. They are the pages worth checking before you act, because they are the ones that get updated.

Other products in this category

The same rules and the same kind of trade-offs, described the same way.