Sukanya Samriddhi Yojana Account: Interest Rate 2026, Online Form, Calculator & Latest Rules

Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme launched in January 2015 under the Beti Bachao Beti Padhao campaign. Parents or legal guardians can open this account for their girl child (below age 10) at any Post Office or designated bank branch across India. The current SSY interest rate is 8.2% per annum for the July-September 2026 quarter (Q2 FY 2026-27), which has stayed the same since January 2024.

As of June 2026, more than 4.75 crore Sukanya Samriddhi accounts have been opened across the country. Total deposits in the scheme have crossed ₹3.33 lakh crore. Uttar Pradesh leads with the most number of SSY accounts. The scheme gives parents a safe, high-return option to build money for their daughter's education or marriage, with full tax-free status on deposits, interest, and maturity amount.

Sukanya Samriddhi Yojana Interest Rate 2026

Sukanya Samriddhi Yojana interest rate is 8.2% per annum for the quarter July to September 2026 (Q2 FY 2026-27). This rate has remained unchanged for over 10 consecutive quarters since January 2024. The Ministry of Finance reviews and announces the SSY interest rate every quarter. Interest is calculated on a yearly basis and compounded annually.

At 8.2%, SSY offers the highest interest rate among all small savings schemes run by the government. For comparison, PPF gives 7.1%, National Savings Certificate gives 7.7%, and Kisan Vikas Patra gives 7.5% for the same quarter. Parents can Compare All Post Office Schemes 2026 before investing.

Here is the SSY interest rate history for recent quarters:

Sukanya Samriddhi Yojana Highlights

How to Open Sukanya Samriddhi Account

Opening a Sukanya Samriddhi Account is simple. Parents or legal guardians can visit any Post Office or a designated bank branch (like SBI, PNB, HDFC Bank, ICICI Bank, Axis Bank, IDBI Bank, Canara Bank, Bank of Baroda, Indian Bank, etc.) and follow these steps:

STEP 1 - Visit your nearest Post Office or designated bank branch with all required documents. Ask for the Sukanya Samriddhi Yojana Account Opening Form (Form 1).

STEP 2 - Fill in the form with the girl child's details (name, date of birth), parent or guardian details (name, address, Aadhaar number), and nominee information. Double check all details before submitting.

STEP 3 - Attach the girl child's birth certificate, parent or guardian's identity proof (Aadhaar Card, PAN Card or Voter ID), address proof, and two passport-size photographs of the guardian.

STEP 4 - Make the initial deposit of at least ₹250 (minimum) up to ₹1.5 lakh. You can pay by cash, cheque, or demand draft.

STEP 5 - After verification, the Post Office or bank will open the account and issue a passbook in the girl child's name. The passbook is usually issued on the same day or within 1-7 working days.

Please note that the SSY account cannot be opened fully online yet. However, once opened at a bank, deposits and balance checks can be managed through net banking or the India Post Payments Bank (IPPB) app.

Sukanya Samriddhi Yojana Account Online Form 2026

The following SSY forms can be downloaded and used for opening, withdrawal, transfer, or closure of the Sukanya Samriddhi account:

• SSY Account Opening Form (Form 1) - Use this form to open a new Sukanya Samriddhi Yojana account at any Post Office or designated bank.
• SSY Application for Withdrawal (Form 3) - Use this for partial withdrawal after the girl child turns 18 for education or marriage purposes.
• Application for Transfer of SSY Account (Form 5) - Use this to transfer the account from one Post Office or bank to another anywhere in India.

Download Complete Application Form (SBI)

All the application forms for Sukanya Samriddhi Yojana and other National Saving Schemes (Form 1 to Form 15) can be downloaded from the official India Post website at indiapost.gov.in or the National Savings Institute website at nsiindia.gov.in.

Sukanya Samriddhi Yojana Eligibility

To open a Sukanya Samriddhi account, these conditions must be met:

The girl child must be below 10 years of age at the time of account opening. The account can be opened any time from the birth of the girl child until she turns 10. Only one account is allowed per girl child, and a family can open a maximum of two SSY accounts (for two different daughters). In case of twins or triplets, a third account can be opened with proof from an authorised medical institution.

Only a parent or legal guardian can open and operate the account on behalf of the girl child. The guardian operates the account until the girl turns 18 years old. After turning 18, the girl child can operate the account herself by submitting the required documents to the bank or Post Office.

The girl child must be an Indian resident at the time of account opening. If the account holder becomes a non-resident or non-citizen later, the interest stops from that date as per scheme rules.

Documents Required

The following documents are needed to open a Sukanya Samriddhi account:

Birth certificate of the girl child is required in all cases. The parent or guardian must provide identity proof such as Aadhaar Card, PAN Card, or Voter ID. Address proof of the guardian is also needed. Two passport-size photographs of the parent or guardian should be submitted. If a family is opening a third account (for twins or triplets), an affidavit along with birth certificates of all children must be submitted as per updated rules.

Deposit Rules

The account can be opened with a minimum deposit of ₹250. After that, any amount can be deposited in multiples of ₹50. The minimum deposit in a financial year is ₹250 and the maximum is ₹1.5 lakh. There is no limit on the number of deposits in a month or financial year, as long as the total does not cross ₹1.5 lakh.

Deposits must be made for 15 years from the date of opening. After the 15-year deposit period, no more deposits are needed, but the account keeps earning interest until maturity at 21 years. If the minimum ₹250 is not deposited in any financial year, the account will be treated as a defaulted account. To revive a defaulted account, the holder needs to pay ₹250 (minimum deposit) plus ₹50 penalty for each year of default.

Withdrawal and Closure Rules

A partial withdrawal is allowed after the girl child turns 18 years old (or passes 10th standard). The withdrawal can be up to 50% of the balance available at the end of the previous financial year. This money can be used for higher education, professional courses, or marriage of the girl child. The withdrawal can be made in one lump sum or in instalments (not more than one per year, for a maximum of five years).

The account matures 21 years from the date of opening. It can also be closed at the time of marriage of the girl child after she turns 18 (up to 1 month before or 3 months after the date of marriage). On maturity, the full balance including interest is paid to the girl child. If the amount is not withdrawn after maturity, it continues to earn interest at the applicable rate.

Premature closure (before 21 years) is allowed after 5 years of account opening only in these situations: death of the girl child, or on compassionate grounds such as life-threatening disease of the account holder or death of the guardian.

Tax Benefits of Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana enjoys EEE (Exempt-Exempt-Exempt) tax status, which means all three stages are tax-free: the deposits, the interest earned, and the maturity amount.

Under the old tax regime, contributions to the SSY account qualify for a tax deduction of up to ₹1.5 lakh per year under Section 80C of the Income Tax Act, 1961 (now Section 123 under the new Income Tax Act, 2025). The interest earned on the SSY account is fully exempt with no upper limit. The maturity amount and withdrawals are also completely tax-free.

Important note for new tax regime users: The Section 80C / Section 123 deduction on SSY deposits is not available under the new tax regime. However, the interest earned and the maturity amount remain fully tax-free under both old and new regimes. So even on the new tax regime, the interest and final payout of SSY are not taxed.

Sukanya Samriddhi Yojana Calculator Chart

Here is what the maturity amounts look like at 8.2% interest rate for different monthly deposit amounts (depositing for 15 years, account maturing at 21 years):

For example, if a parent deposits ₹5,000 every month (₹60,000 per year) for 15 years, the total investment is ₹9 lakh. At 8.2% compounded annually, the maturity amount after 21 years would be approximately ₹26.5 lakh. The entire ₹26.5 lakh is tax-free.

You can calculate the amount and interest using different amounts at this link: https://www.hdfcbank.com/personal/tools-and-calculators/sukanya-samriddhi-yojana-calculator

Changes in SSY Guidelines

1. Higher interest rate for default accounts
If the minimum deposit of ₹250 is not made in a financial year, the account is treated as a default account. As per the updated rules, such default accounts earn the full SSY scheme interest rate (currently 8.2%) until maturity, even if not revived. Earlier, default accounts earned only the Post Office savings bank interest rate (4%).

2. Premature closure rules
Premature closure is allowed in case of death of the girl child or on compassionate grounds. Compassionate grounds include life-threatening disease of the account holder or death of the guardian. The old rules allowed closure only in case of death or change in residency status.

3. Operation of SSY account
The account is operated by the guardian until the girl child turns 18 years old (changed from 10 years under old rules). On turning 18, the girl needs to submit identity and address documents to the bank or Post Office to start operating the account herself.

4. Opening accounts for more than two girls
If accounts are to be opened for more than two girl children (in case of twins or triplets), the guardian must submit an affidavit along with birth certificates. The old rules required a medical certificate instead.

5. Interest crediting
Interest is now credited to the account at the end of each financial year. The provision of reversing wrongly credited interest has been removed since the full scheme interest rate now applies to all accounts, including default accounts.

6. Income Tax Act 2025 update
From Tax Year 2026-27, the SSY tax deduction falls under Section 123 of the new Income Tax Act, 2025 (replacing the old Section 80C of Income Tax Act, 1961). The EEE status and the ₹1.5 lakh deduction limit remain unchanged. However, this deduction is available only under the old tax regime.

Compare All Post Office Saving Schemes 2026

Before investing, parents can compare SSY to other Post Office schemes. Here is how SSY stacks up against other popular government savings schemes for the July-September 2026 quarter:

For detailed comparison, visit: Compare All Post Office Schemes 2026. You can also check individual scheme details for Public Provident Fund, National Saving Certificate, Kisan Vikas Patra, Post Office Savings Account, Senior Citizen Saving Scheme, Recurring Deposit Account, Time Deposit Account, and Monthly Income Scheme.

Regional Offices for Sukanya Samriddhi Account

FAQ's

What is the current SSY interest rate in 2026?

Sukanya Samriddhi Yojana interest rate is 8.2% per annum for the July-September 2026 quarter (Q2 FY 2026-27). This rate has been unchanged since January 2024 and is the highest among all small savings schemes.

Can I open an SSY account online?

No, SSY accounts cannot be opened fully online. You need to visit a Post Office or designated bank branch in person. However, once the account is opened at a bank, you can manage deposits and check balances through net banking or the India Post Payments Bank (IPPB) app.

How much will I get if I deposit ₹1.5 lakh every year in SSY?

If you deposit the maximum ₹1.5 lakh per year for 15 years at 8.2% interest, the approximate maturity amount after 21 years would be around ₹69.8 lakh. The entire amount is tax-free.

Is SSY tax-free under the new tax regime?

The interest earned and maturity amount of SSY are fully tax-free under both old and new tax regimes. However, the tax deduction on deposits (under Section 80C / Section 123) is available only under the old tax regime.

What happens if I miss the minimum deposit in a year?

If ₹250 minimum is not deposited in a financial year, the account becomes a default account. To revive it, pay ₹250 plus ₹50 penalty for each defaulted year. Even without revival, the account earns full SSY interest rate until maturity as per updated rules.

Can grandparents open an SSY account?

Grandparents can open an SSY account only if they are the legal guardian of the girl child. Otherwise, the account can be opened only by the parent.

References

SSY Updated Guidelines (PDF)

More details about the scheme are available at the official website of National Savings Institute at nsiindia.gov.in or at indiapost.gov.in