Calculate your daughter's SSY maturity amount at 8.2% p.a. (official rate for Oct–Dec 2026). Deposits required only for 15 years — account matures at 21 years. Interest and maturity tax-free (Schedule II, entry 5, Income-tax Act, 2025); deposit deduction under section 123 (old regime) is understood to apply - SSY is a notified girl-child scheme (Notification 9/2015, read as continuing via the section 536(2)(j) savings clause - an interpretation, not a fresh 2025 Act notification).
Assumes the account opens now with one deposit per year before 5 April, and the entered rate held constant for the full 21 years - actual SSY rates are reset quarterly, so results are indicative. For an account already opened earlier, the maturity year and balances differ.
| Total Invested (15 years) | — |
| Total Interest Earned | — |
| Tax Saved — illustrative (old regime, 30% slab) | — |
| Balance at Age 18 (50% withdrawable) | — |
| Account Matures in Year (if opened now) | — |
| Final Maturity Value | — |
| Financial Year | SSY Rate |
| Oct–Dec 2026 (official, DEA OM 30 Sep 2026) | 8.2% |
| FY2024-25 – FY2025-26 | 8.2% (all quarters) |
| FY2023-24 | 8.0% (Apr–Dec), 8.2% (Jan–Mar) |
| FY2020-21 – FY2022-23 | 7.6% (all quarters) |
| FY2019-20 | 8.5% (Apr–Jun), 8.4% (Jul–Mar) |
| FY2018-19 | 8.1% (Apr–Sep), 8.5% (Oct–Mar) |
| FY2017-18 | 8.4% (Apr–Jun), 8.3% (Jul–Dec), 8.1% (Jan–Mar) |
| FY2016-17 | 8.6% (Apr–Sep), 8.5% (Oct–Mar) |
History per the National Savings Institute rates table (quarterly, FY2016-17 onward).
Minimum investment: ₹250/year (deposits in multiples of ₹50). Maximum: ₹1,50,000/year. Deposit period: first 15 years from account opening date. Account matures at 21 years from opening date. Account can be opened for a girl child below 10 years of age. Maximum two accounts per family - more only for multiple births (twins/triplets) in the first or second birth order (but not for a second-birth girl child if the first birth already produced two or more surviving girls), on submission of a guardian affidavit with birth certificates, per the official scheme rules. Interest is compounded annually and credited on 31st March each year. Deposit before 5th April every year to maximise that year's interest.
📖 Complete guide: Sukanya Samriddhi Yojana India 2026 — rules, eligibility & tax benefits.
SSY has EEE (Exempt-Exempt-Exempt) tax status. E1: The annual deposit deduction up to ₹1,50,000 under section 123 of the Income-tax Act, 2025 (old tax regime only - the default new regime under section 202 drops Chapter VIII deductions) is treated as applying on the following basis: the SSY Scheme was notified as a girl-child deposit scheme under section 80C(2)(viii) of the Income-tax Act, 1961 by Notification 9/2015 (S.O. 210(E), dated 21 January 2015 - confirmed in CBDT Circular 19/2015, para 20.3), and that notification is read as continuing in force under section 536(2)(j) of the Income-tax Act, 2025; Schedule XV para 1(h) is the corresponding clause; continuation of the 2015 notification under the 2025 Act rests on that savings clause, and no inconsistent provision has been identified. That clause covers a notified deposit scheme held in the girl child's name "if the scheme so specifies"; the Scheme requires the account to be held in the girl child's name and opened by her guardian (SSY Scheme 2019, definitions para 2 and para 3(1)), which is consistent with that condition. Note: this deposit-deduction treatment rests on the 2015 notification continuing via the savings clause - an interpretation, not a separately verified fresh notification under the 2025 Act or a definitive legal conclusion. E2: Interest earned every year is fully exempt. E3: Maturity amount is 100% tax-free. Basis: Schedule II, entry 5 of the Income-tax Act, 2025 exempts "any payment from any account" opened under the SSY Scheme, 2019 (conditions: Nil), under both regimes; the Finance Ministry's Finance Bill 2015 Memorandum explains this identical wording as exempting "the interest accruing on deposits in, and withdrawals from" the account. (Earlier law: Section 80C + Section 10(11A), Income-tax Act, 1961.) If the E1 deduction applies, a parent in the 30% slab (old regime) with unused ₹1.5L deduction room could save up to ≈₹46,800/year in tax by investing the full ₹1.5L - actual saving depends on taxable income and other use of the ₹1.5L limit.
Partial withdrawal (education only): After the account holder turns 18 or passes class 10 (whichever is earlier), up to 50% of the balance at the end of the financial year preceding the withdrawal application can be withdrawn for her education, with proof of admission or a fee-slip - as a lump sum or in instalments (maximum one per year, up to five years), limited to the actual fee requirement. Premature closure: On death of the account holder (balance with interest is paid to the guardian), or on extreme compassionate grounds - life-threatening illness of the account holder or death of the guardian - after at least 5 years from opening. Early closure for marriage: Before 21 years, if she will be at least 18 on the date of marriage; apply between one month before and three months after the wedding. Normal maturity: Full balance paid out after 21 years from opening.
| Feature | SSY | PPF | Bank FD (5yr) |
| Interest Rate (2026) | 8.2% | 7.1% | Varies by bank |
| Tax Status | Exempt (Sch II #5) | Exempt (Sch II #3, notif. S.O. 2430/1968) | Taxable |
| 80C Deduction | s123 (old regime; Notif. 9/2015) | s123 (old regime; Sch XV 1(e)) | s123 (5yr FD, old regime; S.O. 1220(E)/2006) |
| Who Can Invest | Girl child (below 10) | Anyone | Anyone |
| Maturity Period | 21 years | 15 years | 5 years |
| Max Annual Deposit | ₹1,50,000 | ₹1,50,000 | ₹1.5L/yr (tax-saver scheme cap) |
| Return Certainty | Govt-backed; rate reset quarterly | Govt-backed; rate reset quarterly | Rate fixed at booking; DICGC ₹5L/depositor/bank total |
Notification basis: PPF was notified under section 10(11) of the Income-tax Act, 1961 by S.O. 2430 dated 2 July 1968; 5-year bank tax-saver FDs follow the Bank Term Deposit Scheme, 2006, notified by S.O. 1220(E) dated 28 July 2006 and amended by S.O. 2127(E)/2007 and S.O. 2906(E)/2014 (raising the scheme's annual limit to ₹1,50,000 - amendment texts verified from secondary sources; we have not located any replacement); both continue under section 536(2)(j) of the Income-tax Act, 2025. SSY/PPF rates are set by quarterly government notification and change over time; the table shows the October-December 2026 rates per the DEA Office Memorandum of 30 September 2026 and the NSI rates table. DICGC cover applies only to deposits with an insured bank and is capped at ₹5 lakh per depositor per bank in the same capacity and right, principal and interest combined. The tax-saver scheme caps investment at ₹1,50,000 per year (ordinary FDs have no such scheme cap but also no deduction).
Q: What is the SSY interest rate in 2026?
A: The SSY interest rate for October to December 2026 is 8.2% per annum, compounded and credited annually on 31st March - unchanged under the Ministry of Finance (DEA) Office Memorandum of 30 September 2026. Rates are reviewed every quarter; confirm on the official National Savings Institute rates table.
Q: For how many years do I deposit in SSY?
A: Deposits are required only for the first 15 years from the date of account opening. After year 15, no further deposits are accepted, but the balance keeps earning interest at the prevailing rate until maturity at 21 years.
Q: Can I open SSY account for a 9-year-old?
A: Yes, as long as the girl child is below 10 years of age. However, opening it as early as possible (ideally at birth) maximises the compounding period and the final maturity amount.
Q: Is SSY better than PPF for a girl child's education fund?
A: For a girl child specifically, SSY offers a higher interest rate than PPF at present (8.2% vs 7.1%), similar tax treatment under the old regime, and allows partial withdrawal for education when she turns 18.
Q: What is the maximum deposit in SSY per year?
A: The maximum deposit allowed in an SSY account is ₹1,50,000 per financial year. The minimum deposit to keep the account active is ₹250 per year.
Q: When does the SSY account mature?
A: The SSY account matures 21 years from the date of account opening. Earlier closure is permitted only on application for the account holder's intended marriage, if she will be at least 18 on the date of marriage; the application must be made between one month before and three months after the wedding.
Q: Is SSY maturity amount tax-free?
A: Yes. Schedule II, entry 5 of the Income-tax Act, 2025 exempts any payment from an SSY account, so interest and maturity proceeds are tax-free in both regimes. The deposit deduction up to ₹1,50,000 under section 123 (old regime) also applies - SSY is a notified girl-child scheme (Notification 9/2015, read as continuing via the section 536(2)(j) savings clause - an interpretation, not a fresh 2025 Act notification).
Q: Can I make a partial withdrawal from SSY?
A: Yes. For the account holder's education, after she turns 18 or passes class 10 (whichever is earlier), up to 50% of the balance at the end of the financial year preceding the application can be withdrawn - as a lump sum or in instalments (maximum one per year, up to five years), limited to the actual fee requirement.
Q: Where can I open an SSY account?
A: SSY accounts can be opened at any post office or at an authorised bank branch. Confirm the current list of authorised banks with India Post or your bank.
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