- 8.2%Interest a yearTax-free
- ₹250 to ₹1.5 LDeposit a year
- 15 yearsOf deposits
- 21 yearsUntil maturity
What is Sukanya Samriddhi Yojana?
Sukanya Samriddhi Yojana is a savings scheme of the Government of India for a girl child. It started on 22 January 2015 as part of Beti Bachao Beti Padhao, and today runs under the Sukanya Samriddhi Account Scheme, 2019. A parent opens the account in the girl's name and saves for her education and marriage.
In Tamil Nadu, post offices call it Selvamagal Semippu Thittam (செல்வமகள் சேமிப்புத் திட்டம்), often just Selvamagal. It is the same scheme with the same rules. The account for a boy is called the Ponmagan scheme, which is a PPF account.
- Step 1Open for your daughterAt a post office or bank, before she turns 10.
- Step 2Deposit for 15 years₹250 to ₹1.5 L a year.
- Step 3Interest grows tax-free8.2% a year, added every 31 March, until year 21.
- Step 4Use it as she grows50% for studies from 18, the rest at maturity.
Example: Meera, 2. Her parents open an SSY account and deposit ₹50,000 by 5 April every year for 15 years. At 8.2%, the account matures when Meera is 23.
- Deposited
- ₹7,50,000
- Interest (tax-free)
- ₹16,44,040
- At maturity
- ₹23,94,040
Sukanya Samriddhi interest rate 2026: 8.2%
The Sukanya Samriddhi interest rate is 8.2% a year for October to December 2026. The Ministry of Finance reviews it every 3 months. The rate is not locked when you open the account: a new rate applies to the whole balance.
- Interest is worked out every month on the lowest balance between the 5th and the last day of the month.
- It is added to the account once a year, on 31 March. From then on, it also earns interest (compounding).
- A yearly deposit made by 5 April earns interest for all 12 months.
| Period | SSY rate |
|---|---|
| From January 2024 | 8.2% |
| From April 2023 | 8% |
| From April 2020 | 7.6% |
See every past rate on the Sukanya Samriddhi interest rate page.
Sukanya Samriddhi maturity amount
The amount after 21 years at 8.2%, for the same deposit made by 5 April in each of the first 15 years.
| Deposit a year | Total deposited | Interest | At 21 years |
|---|---|---|---|
| ₹12,000 | ₹1,80,000 | ₹3,94,570 | ₹5,74,570 |
| ₹25,000 | ₹3,75,000 | ₹8,22,020 | ₹11,97,020 |
| ₹50,000 | ₹7,50,000 | ₹16,44,040 | ₹23,94,040 |
| ₹1,00,000 | ₹15,00,000 | ₹32,88,079 | ₹47,88,079 |
| ₹1,50,000 | ₹22,50,000 | ₹49,32,119 | ₹71,82,119 |
For your own numbers, use the Sukanya Samriddhi calculator, or read how the SSY maturity amount is worked out.
Sukanya Samriddhi Yojana eligibility
- Yes: A girl below 10 years of age, from birth
- Yes: Opened by her father, mother or legal guardian
- Yes: A resident Indian girl
- Yes: Up to 2 girls in one family
- Yes: A third girl (or more) only if twins or triplets are born
- No: A girl aged 10 or more
- No: A second account for the same girl
- No: NRIs (for a new account)
- No: An account for a boy (see Ponmagan or PPF)
- Two daughters: each gets her own account. If twins or triplets are born in the first or second birth, a third account is allowed with an affidavit and the birth certificates.
- Grandparents: only a parent or a legal guardian can open the account. Since 1 October 2024, an account opened by a grandparent who is not the legal guardian has to be moved to a parent or the legal guardian.
How to open a Sukanya Samriddhi account: documents and steps
- Step 1Visit a post office or bankAny post office, or an authorised bank branch.
- Step 2Fill in the SSY formIn the girl's name, with you as guardian.
- Step 3Give the documentsHer birth certificate, your Aadhaar and PAN, photos.
- Step 4Make the first depositAt least ₹250.
- Step 5Get the passbookUpdate it with every deposit.
| Document | Why |
|---|---|
| Girl's birth certificate | Proof of her age (required) |
| Parent's or guardian's Aadhaar and PAN | KYC of the person running the account |
| Address proof, if Aadhaar does not show the current address | KYC |
| Passport-size photos of the parent and the girl | For the account form |
| Affidavit and birth certificates, for twins or triplets | To open more than two accounts in a family |
Sukanya Samriddhi deposit rules and inactive account
- Amount: at least ₹250 and at most ₹1,50,000 in each financial year (April to March), in multiples of ₹50.
- How often: any number of times in the year, by cash, cheque or online (through India Post Payments Bank or your bank's net banking).
- How long: for 15 years from the date of opening. After that, no more deposits are taken.
- Limit per girl: the ₹1,50,000 limit is for each account, so two daughters can get up to ₹3,00,000 a year together.
Inactive SSY account and revival: if you deposit less than ₹250 in a year, the account goes into default. The balance still earns the SSY rate. You can revive it any time within the 15 deposit years by paying ₹50 for each missed year plus ₹250 for each of those years.
Example: Missed deposits. Lakshmi's parents missed 2 years of deposits. To revive the account, they pay ₹50 and ₹250 for each missed year.
- Fee
- ₹100
- Missed deposits
- ₹500
- Total to pay
- ₹600
Sukanya Samriddhi withdrawal rules and maturity
For Meera's account (₹50,000 a year, opened at age 2), this is what happens year by year:
Partial withdrawal for education:
- Allowed once she turns 18 or passes Class 10, whichever comes first.
- Up to 50% of the balance at the end of the last financial year, only for her higher education.
- Give proof of admission or a fee slip. The amount is limited to the actual fees and costs.
- Take it in one go, or once a year for up to 5 years.
Maturity: the account matures 21 years after opening. The money is paid to the girl when she applies with her KYC documents and the passbook. There is no extension.
Sukanya Samriddhi premature closure rules
| Reason | When | What you need |
|---|---|---|
| Her marriage | After she turns 18; apply from 1 month before to 3 months after the marriage | Application, proof of her age and a declaration about the marriage |
| Death of the girl | Any time | Death certificate. The balance with interest is paid to the guardian |
| Compassionate grounds | After 5 years from opening | Proof of a life-threatening illness of the girl, or of the guardian's death |
The account cannot be closed early for any other reason.
When she turns 18, nominee and account transfer
- Step 1She takes over at 18She gives her own KYC documents, and runs the account herself from then on.
- Step 2NomineeAsk the branch about adding a nominee. If she dies, the balance goes to the guardian.
- Step 3TransferMove the account to any post office or bank in India. It is free if you show proof that the family has moved.
Sukanya Samriddhi tax benefit: EEE
- ₹1.5 LDeduction on depositsOld regime, Section 123 (earlier 80C)
- Tax-freeYearly interestBoth regimes
- Tax-freeMaturity and withdrawalsBoth regimes
- No TDSOn SSY interest
- Deposit: in the old tax regime, the parent who deposits can claim it under Section 123 of the Income-tax Act, 2025 (earlier Section 80C), up to ₹1,50,000 a year with all their other tax-saving investments. The new regime does not give this deduction.
- Interest: not taxed in either regime, and no TDS is cut.
- Maturity: the maturity amount and the education withdrawal are tax-free.
Sukanya Samriddhi: strengths and limits
- Yes: Backed by the Government of India
- Yes: One of the highest rates among small savings schemes
- Yes: Interest and maturity fully tax-free
- Yes: Start with just ₹250 a year
- No: Only for a girl below 10
- No: Money is locked until she is 18
- No: Rate can change every 3 months
- No: No loan facility
Sukanya Samriddhi vs PPF vs Ponmagan
| Sukanya Samriddhi | PPF | Ponmagan (PPF for a boy) | |
|---|---|---|---|
| For | A girl below 10 | Any resident Indian | A boy below 18 |
| Interest rate | 8.2% | 7.1% | 7.1% |
| Deposit | ₹250 to ₹1.5 L a year | ₹500 to ₹1.5 L a year | ₹500 to ₹1.5 L a year |
| Pay for | 15 years | 15 years | 15 years |
| Matures after | 21 years | 15 years, can extend | 15 years, can extend |
| Loan | No | Years 3 to 6 | Years 3 to 6 |
| Limit | Per girl | Shared with your children's PPF | Shared with the parent's PPF |
| Tax | Fully tax-free | Fully tax-free | Fully tax-free |
The same ₹50,000 a year for 15 years, held for 21 years, grows to ₹23,94,040 in SSY and ₹20,46,533 in PPF (extended without deposits). See the Public Provident Fund and Ponmagan scheme pages.
Frequently asked questions
What is the Sukanya Samriddhi Yojana interest rate in 2026?
8.2% a year for October to December 2026. The Ministry of Finance reviews it every 3 months, and the new rate applies to the whole balance. The interest is tax-free.
Who can open a Sukanya Samriddhi account?
A parent or legal guardian can open it for a girl who is below 10 years of age and a resident of India. One girl can have only one account, and one family can open accounts for at most 2 girls, or more if twins or triplets are born.
What is the minimum and maximum deposit in SSY?
At least ₹250 and at most ₹1,50,000 in a financial year (April to March), in multiples of ₹50. You can pay in one go or many times.
For how many years do I have to deposit in Sukanya Samriddhi?
For 15 years from the date of opening. The account matures after 21 years. In the last 6 years, you do not deposit, but the balance still earns interest.
When does the Sukanya Samriddhi account mature?
21 years from the date of opening, whatever her age. If you open it when she is 2, it matures when she is 23. It can also be closed earlier for her marriage after she turns 18.
Can I withdraw money from Sukanya Samriddhi for education?
Yes. Once she turns 18 or passes Class 10, whichever comes first, you can take out up to 50% of the balance at the end of the last financial year for her higher education. You need proof of admission or a fee slip.
What if I miss a Sukanya Samriddhi deposit?
The account goes into default. To revive it within the 15 deposit years, pay ₹50 for each missed year plus ₹250 for each of those years. For 2 missed years, that is ₹600. The balance keeps earning the SSY rate in the meantime.
Can I close the Sukanya Samriddhi account early?
Yes, in three cases: for her marriage after she turns 18, on her death, or on compassionate grounds (such as a life-threatening illness or the death of the guardian) after 5 years.
Is Sukanya Samriddhi tax-free?
Yes, it is EEE. The interest and the maturity amount are tax-free in both regimes. In the old regime, the deposits get a deduction under Section 123 of the Income-tax Act, 2025 (earlier Section 80C), up to ₹1,50,000 a year.
Can I open Sukanya Samriddhi accounts for two daughters?
Yes. Each girl gets her own account, and each account can take up to ₹1,50,000 a year. But the tax deduction for all your Section 123 investments together is still ₹1,50,000 a year.
What is Selvamagal Semippu Thittam?
Selvamagal Semippu Thittam (செல்வமகள் சேமிப்புத் திட்டம்) is the Tamil name for Sukanya Samriddhi Yojana, used by post offices in Tamil Nadu. It is the same scheme, with the same rules and the same 8.2% rate.
Is Sukanya Samriddhi better than PPF for a girl?
For a girl below 10, SSY pays 8.2% against 7.1% in PPF, and both are tax-free. PPF gives easier access through loans and part withdrawals, while SSY money is mainly for her education and marriage.