Parents saving for their daughters’ future have received an important update on the Sukanya Samriddhi Yojana (SSY). The Government of India has kept the scheme’s interest rate unchanged at 8.2% per annum for the October–December 2026 quarter. This means account holders will continue to earn the same rate during the current three-month period.
The government reviews interest rates on small savings schemes every quarter, although rates are not necessarily changed after every review. Sukanya Samriddhi Yojana is a government-backed savings programme that helps parents and guardians build a long-term fund for a girl child’s education and future financial needs.
Here is a detailed look at the latest interest rate, deposit limits, maturity period, withdrawal conditions, tax benefits and account-opening process.
Sukanya Samriddhi Yojana Interest Rate and Key Details
The SSY interest rate remains at 8.2% annually from October 1 to December 31, 2026. Interest is calculated every month using the lowest account balance between the fifth day and the end of that month. The interest is credited to the account at the end of each financial year.
| Particulars | Details |
|---|---|
| Scheme | Sukanya Samriddhi Yojana |
| Interest rate | 8.2% per annum |
| Applicable period | October 1–December 31, 2026 |
| Interest calculation | Monthly |
| Interest credit | Annually |
| Deposit period | 15 years from account opening |
| Maturity period | 21 years from account opening |
| Minimum annual deposit | ₹250 |
| Maximum annual deposit | ₹1.5 lakh |
The interest rate may be revised in future quarterly reviews. Therefore, investors should check the latest government notification before making long-term return calculations.
Eligibility, Investment Limits and Account Opening
Sukanya Samriddhi Yojana was launched on January 22, 2015, under the Beti Bachao, Beti Padhao campaign. It is designed to encourage families to save for a girl child’s long-term financial requirements.
A parent or legal guardian can open an account in the name of a girl child who has not yet attained 10 years of age. Generally, a family can open accounts for up to two girl children, with specified exceptions for twins or triplets under the scheme rules. Only one account is permitted for each eligible girl child.
The account can be opened at an authorised bank or post office. It is managed by the parent or legal guardian until the girl turns 18. After reaching 18, the account holder can operate it herself after completing the required formalities.
Parents can begin investing with a minimum deposit of ₹250 in a financial year. The maximum permitted deposit is ₹1.5 lakh annually. Subsequent deposits can be made in multiples of ₹50, and the money does not have to be deposited in a single instalment. However, the total contribution must remain within the annual limit.
| Deposit condition | Amount |
|---|---|
| Minimum deposit per financial year | ₹250 |
| Maximum deposit per financial year | ₹1,50,000 |
| Subsequent deposit multiples | ₹50 |
| Deposit period | First 15 years |
To open an account, parents or guardians generally need the SSY application form, the girl’s birth certificate, identity and address proof of the guardian, Aadhaar details as required, PAN card or Form 60 where applicable, and the initial deposit of at least ₹250. Additional documents may be requested under applicable KYC requirements.
The process involves visiting an authorised bank branch or post office, completing the account-opening form, submitting the required documents and making the initial deposit. Applicants should check that the account and personal details have been recorded correctly.
Deposit Period, Maturity and Expected Returns
One important feature of the scheme is that the investment period is shorter than the account’s full maturity period. Deposits are required for the first 15 years from the date the account is opened, while the account matures after 21 years.
For example, if an account is opened when a girl is five years old, deposits can be made during the first 15 years. After that, no further contributions are required, but the account continues to earn interest under the applicable rules until it reaches maturity.
The final maturity amount depends on the total money deposited, the timing of contributions and the interest rates announced by the government over the account’s tenure.
For illustration, if parents deposit ₹1.5 lakh every year for 15 years, the total amount invested will be ₹22.5 lakh.
| Particulars | Details |
|---|---|
| Annual investment | ₹1,50,000 |
| Deposit period | 15 years |
| Total amount deposited | ₹22,50,000 |
| Account maturity | 21 years from opening |
The actual maturity value cannot be determined using only the current 8.2% rate, because the government may revise the interest rate during future quarterly reviews. The final amount will depend on the rates applicable throughout the investment period.
Withdrawal Rules, Premature Closure and Tax Benefits
Sukanya Samriddhi Yojana allows partial withdrawals for eligible higher education expenses. The account holder can withdraw up to 50% of the balance available at the end of the preceding financial year after attaining 18 years of age or passing Class 10, whichever condition is met earlier.
The application must include supporting documents, such as an admission offer or fee statement from the educational institution. The withdrawal can be made as a lump sum or in instalments, subject to the scheme’s conditions. The amount cannot exceed the actual education expenses supported by the documents.
Premature closure is allowed only in specified situations. One such provision applies when the account holder is at least 18 years old and intends to marry. The closure request must be made within the prescribed period around the marriage, with the required age proof and declaration.
Closure may also be permitted in certain exceptional circumstances, including the death of the account holder or specified compassionate grounds, subject to the applicable rules and documents. Parents should confirm the requirements with their bank or post office before applying.
If the minimum annual deposit of ₹250 is not made, the account is treated as being in default. It can generally be regularised by depositing the minimum amount due for each default year along with a penalty of ₹50 for every year of default.
The scheme also provides tax benefits under applicable income tax provisions. Eligible contributions qualify for deduction under Section 80C, subject to the overall limit and the tax regime chosen. Interest earned and eligible maturity proceeds are tax-exempt under the scheme’s applicable provisions. The Section 80C deduction is generally available under the old tax regime, not the new tax regime.
Parents should remember that SSY is intended for long-term savings. The girl child must be below 10 years of age when the account is opened, the minimum annual deposit is ₹250, the maximum is ₹1.5 lakh, contributions are required for 15 years and maturity takes place after 21 years. The interest rate can change in future government reviews, while withdrawals are subject to specific conditions.
Frequently Asked Questions
1. What is the Sukanya Samriddhi Yojana interest rate in November 2026?
The interest rate is 8.2% per annum for the October–December 2026 quarter.
2. Has the government increased the SSY interest rate for this quarter?
No. The rate has been retained at 8.2%.
3. What is the minimum amount required to invest in SSY?
The minimum deposit is ₹250 in a financial year.
4. What is the maximum annual deposit limit?
A maximum of ₹1.5 lakh can be deposited in a financial year.
5. For how many years must parents deposit money?
Deposits are required for 15 years from the account-opening date. The account matures after 21 years.
6. Can money be withdrawn for a daughter’s education?
Yes. Eligible withdrawals of up to 50% of the balance at the end of the preceding financial year are permitted, subject to the scheme’s education-related conditions.
7. Can an account be opened after a girl turns 10?
Ordinarily, no. The account must be opened before the girl child attains 10 years of age.
8. Is Sukanya Samriddhi Yojana backed by the government?
Yes. It is a Government of India small savings scheme, and its interest rate is notified periodically.
Disclaimer: This article is intended for general informational purposes only and should not be considered financial, investment or tax advice. Interest rates, eligibility conditions, tax provisions and withdrawal rules are subject to government notifications and applicable regulations. Readers should verify the latest details with an authorised bank, post office or qualified financial or tax adviser before making investment decisions.