Sukanya Samriddhi in short
- Who: a girl child below 10 years, opened by a parent or guardian. Up to two accounts per family (three for twins or triplets).
- Deposit: ₹250 to ₹1,50,000 a year, for 15 years from opening.
- Interest: 8.2% a year for October–December 2026, compounded yearly and credited on 31 March.
- Maturity: 21 years from opening. Between years 15 and 21 the account keeps earning without new deposits.
- Tax: deposits qualify for the ₹1.5 lakh deduction in the old regime; interest and maturity are tax-free.
Worked example
₹1,50,000 a year for 15 years is ₹22.5 lakh of deposits. At 8.2%, the account grows to about ₹71,82,119 after 21 years, all tax-free.
Withdrawals
Once she turns 18 (or passes Class 10), up to 50% of the previous year’s balance can be withdrawn for higher education. The account can be closed early for her marriage after 18.
SSY or PPF?
SSY pays more (8.2% vs 7.1%) and matures sooner, but the money is meant for the daughter. Many parents use both: SSY for her education and PPF for their own retirement.
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Questions people ask
What is the SSY interest rate now?
8.2% a year for October–December 2026, unchanged from the previous quarter.
What if I miss a year’s deposit?
The account goes into default. Pay ₹250 for each missed year plus a ₹50 penalty per year to revive it.