Sukanya Samriddhi Yojana 2026 — 8.2% Interest, EEE Tax Benefit, How to Open
Sukanya Samriddhi Yojana 2026: 8.2% tax-free interest, EEE benefit, ₹250–₹1.5 lakh per year. Open the SSY account at any post office or bank for a girl child below 10. Maturity worked example.
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Quick summary. Sukanya Samriddhi Yojana (SSY) is a small-savings scheme run by India Post for the girl child. Interest 8.2% per annum (Q1 FY 2026–27), compounded annually. Minimum ₹250 / maximum ₹1.5 lakh per year. Deposits qualify for Section 80C deduction, interest is tax-free, maturity is tax-free — the rare EEE (Exempt-Exempt-Exempt) instrument. Account is opened in the girl’s name by a parent / guardian, before she turns 10. Deposits run for 15 years; account matures 21 years from the date of opening (or upon her marriage after 18). Open mode: Any post office or authorised bank branch.
SSY was launched on 22 January 2015 under the Beti Bachao Beti Padhao initiative. It is one of the highest-yielding government savings instruments — the rate has stayed at 8.2% for six straight quarters (since Q1 FY 2024–25), well above PPF’s 7.1% and most bank fixed deposits. The combination of high rate, EEE tax treatment, and government backing makes it the most efficient long-term savings vehicle for a daughter’s higher education and marriage corpus.
The scheme is parent-driven: you open and operate the account, deposit between ₹250 and ₹1.5 lakh in a financial year (in any number of instalments), and stop fresh deposits after 15 years. The corpus then continues earning the SSY rate until the girl turns 21 — when she withdraws the entire maturity amount.
Scheme at a glance
| Detail | Information |
|---|---|
| Scheme name | Sukanya Samriddhi Yojana (SSY) |
| Operator | India Post + authorised commercial banks (SBI, PNB, BoB, Canara, ICICI, HDFC, Axis, etc.) |
| Interest rate (Q1 FY 2026–27) | 8.2% p.a., compounded annually, credited at year-end |
| Minimum deposit | ₹250 per financial year |
| Maximum deposit | ₹1.5 lakh per financial year (across all accounts of the same girl) |
| Deposit tenure | 15 years from account opening |
| Maturity | 21 years from opening, or marriage of girl after 18 — whichever earlier |
| Tax treatment | EEE — Section 80C on contribution, tax-free interest, tax-free maturity |
| Partial withdrawal | Up to 50% of balance after girl turns 18 (for higher education) |
| Apply mode | Offline at any post office / authorised bank |
Who can open an SSY account?
Educational Qualification
Not applicable
Age Limit (As on Date of opening (girl's age))
0 to 10 Years
Other Requirements
- Nationality: Indian resident — both girl and parent
- Account is opened by a parent or legal guardian in the name of the girl child
- Girl must be below 10 years of age at the time of opening (a 1-year grace period is allowed for accounts opened in 2014–15)
- Maximum 2 SSY accounts per family — one per daughter (3 accounts allowed if the second birth produces twin / triplet daughters)
- Girl must be an Indian resident at the time of opening; account is closed if she becomes NRI later
- If the girl is adopted, the date of adoption is treated as the date of birth for age calculation
In simple terms. Two filters: (1) the girl must be under 10; (2) maximum 2 accounts per family. Income, occupation, locality and caste have no bearing — anyone can open the account.
Worked example — what ₹1.5 lakh / year actually grows to
Assume you open an SSY account for your daughter in May 2026 at age 4. You deposit the maximum ₹1.5 lakh every year for 15 years (FY 2026–27 to FY 2040–41) and let it compound until maturity in May 2047. Holding the rate steady at 8.2%:
| Phase | What happens |
|---|---|
| Year 1–15 | Total contributions: ₹22.5 lakh (₹1.5 L × 15) |
| Year 16–21 | No fresh deposits; existing corpus continues earning 8.2% |
| Year 21 (maturity) | Approximate corpus: ₹71.8 lakh — entirely tax-free in the daughter’s hands |
Of this, ₹22.5 lakh is your contribution and ₹49.3 lakh is interest (none of which is taxed). At a 30% marginal rate, this is the equivalent of a ~10.4% pre-tax return in a normal taxable instrument.
A practical tip. Deposit early in the financial year — the SSY rate is compounded annually but only on the lowest balance between 5th and end of the month from April to March. A deposit made on 5 April earns interest for the full year; a deposit made on 31 March earns one month’s interest.
Documents required
While filling online form
- Birth certificate of the girl child (original + photocopy) — issued by Municipality / Gram Panchayat / hospital
- Aadhaar card of the parent / guardian opening the account
- Aadhaar card of the girl child (mandatory if 5+; otherwise optional)
- PAN card of the parent / guardian
- Address proof of the parent (utility bill / Aadhaar / passport)
- Two passport-size photographs of the parent
- Initial deposit cheque (₹250 minimum) — cash also accepted at post offices
How to open the account
Method 1 — At a post office (most common)
- Walk into any post office during working hours. Ask for SSY Account Opening Form (Form-1).
- Fill in: girl’s name and DOB, your details (parent/guardian), nominee, initial deposit.
- Attach the documents listed above (self-attested copies).
- Pay the initial deposit (₹250 to ₹1.5 lakh) in cash or by cheque.
- The account is opened on the spot and you receive a passbook with the account number. Subsequent deposits can be made by cash, cheque, or via India Post Net-Banking / IPPB mobile app.
Method 2 — At an authorised bank branch
The same process at SBI / PNB / BoB / Canara / ICICI / HDFC / Axis branches. Most banks also let you operate the SSY account via Internet Banking after opening — letting you set up an annual standing instruction so you don’t miss the early-April deposit.
⏰ Last Date: Open (rolling — until the girl turns 10)
Find a post officeClicking this button will take you to the official government portal.
Withdrawal rules
| When | What you can withdraw |
|---|---|
| Before age 18 | Not allowed (except in extreme circumstances — see below) |
| After age 18 | Up to 50% of the previous-year-end balance, for the girl’s higher education only — proof of admission required |
| After age 21 (maturity) | Full corpus is paid out to the girl (or guardian if not yet a major) |
| On marriage after 18 | Account can be closed prematurely — marriage certificate / age proof required |
| Before age 18, exceptional | On death of the girl, or compassionate grounds (medical emergency of life-threatening illness) — full closure with certificate |
No partial withdrawal in the first 18 years, even if you’re willing to lose the interest. The lock-in is the price for the high tax-free rate.
Common pitfalls and fixes
| Issue | Fix |
|---|---|
| Missed minimum ₹250 in a year | Account becomes “default”. Revive by paying ₹250 + ₹50 penalty per defaulted year, at the post office |
| Deposit > ₹1.5 lakh in a year | Excess is treated as a non-eligible deposit — earns no interest, refunded without interest. Stop depositing once you hit ₹1.5 lakh |
| Two accounts in one daughter’s name | Only the first account is valid; second is closed and amount refunded without interest |
| Girl moves abroad permanently (NRI) | Account is closed and proceeds paid out — you must inform the post office |
| Lost passbook | Apply at the same post office with KYC; new passbook issued in 7 days |
Frequently asked questions
1. What is the SSY interest rate in 2026?
2. Can I open SSY for my daughter who is 11?
3. How many SSY accounts can a family open?
4. Is the SSY interest tax-free?
5. Does the new tax regime affect SSY?
6. Can I close the account if I urgently need money?
7. What happens if I miss a year's deposit?
8. Who receives the maturity amount?
Latest updates
The Government of India retained the SSY rate at 8.2% for Q1 FY 2026–27, marking the sixth consecutive quarter at this level — the longest stable run in the scheme’s history. From 1 April 2026, online opening of SSY accounts has been enabled at SBI, PNB and HDFC via their internet banking interfaces (Aadhaar e-KYC + video-KYC). India Post Payments Bank (IPPB) lets you contribute to an existing post-office SSY account directly through its mobile app — useful for parents working in cities while the account is held in a village post office.
Official links
Disclaimer. SarkariBaba is an independent information publisher. We are not affiliated with India Post or any bank. SSY interest rates are revised quarterly — verify the current rate on nsiindia.gov.in before relying on the example calculation in this article.
