Sukanya Samriddhi Yojana (SSY): all the rules
Tap a heading to expand it. Rules checked on 7 October 2026.
Who can open an account
- A guardian can open an account in the name of a girl child who has not yet turned 10, at a post office or an authorised bank. Her birth certificate is required.
- Each girl can have only one account, and a family can open accounts for at most two girls.
- Exception: if twins or triplets are born in the first or second birth, more than two accounts are allowed, with an affidavit and birth certificates. This does not apply to a second-birth girl if the first birth already gave two or more surviving girls.
- Since 1 October 2024 the account must be operated by a natural parent or legal guardian. An account opened by someone else (for example a grandparent) must be transferred to the parent or legal guardian, and extra accounts beyond the family limit are closed.
- The guardian operates the account until the girl turns 18; after that she operates it herself.
Deposits
- Minimum ₹250 and maximum ₹1,50,000 per financial year, in multiples of ₹50. Any amount above the limit earns no interest and is returned.
- Deposits can be made for 15 years from the date of opening. From year 16 to 21 no deposits are needed, but the balance keeps earning interest.
- If the ₹250 minimum is not paid in a year, the account is "in default". You can regularise it any time within 15 years of opening by paying ₹250 for each missed year plus a ₹50 penalty per year.
- Even if a defaulted account is never regularised, all money in it keeps earning the scheme rate until closure.
How interest works
- The government sets the rate every quarter. The calculator above uses the current rate.
- Interest is worked out each month on the lowest balance between the 5th and the last day of the month, and added at the end of each financial year (compounded yearly). Deposit by 5 April to earn interest for the full year.
Maturity
- The account matures 21 years after the date of opening; the balance with interest is then paid to the girl.
- It can also be closed earlier for her marriage: she must apply with a notarised declaration and proof that she will be at least 18 on the wedding date, between one month before and three months after the marriage.
Withdrawals for education
- Once the girl turns 18 or passes Class 10 (whichever is first), up to 50% of the balance at the end of the previous financial year can be withdrawn for her education.
- It needs an admission offer or fee slip, and is limited to the actual fees and charges. It can be taken in one go or in instalments — at most once a year, for up to five years.
Closing early
- On the death of the girl, the account is closed and the balance is paid to the guardian, with scheme interest up to the date of death and the Post Office Savings Account rate (currently 4%) after that.
- After 5 years from opening, the post office may allow closure on extreme compassionate grounds — such as treatment of a life-threatening illness of the girl, or the death of the guardian. The balance is then paid with interest at the full scheme rate.
Tax
- Deposits qualify for a deduction under Section 123 of the Income-tax Act, 2025 (the old Section 80C), up to ₹1,50,000 a year in total across all eligible investments. This deduction is available only if you choose the old tax regime; the new (default) regime under Section 202 does not allow it.
- Interest and all payments from the account are fully tax-free under both regimes (EEE).
Sources
- The Gazette of India — G.S.R. 914(E), 12 December 2019: Sukanya Samriddhi Account Scheme, 2019
- Arthgyaan — FAQ on new rules for irregular PPF and SSY accounts (Oct 2024)
- Business Standard — PPF changes from October 2024 decoded
- Income-tax Act, 2025 as amended by the Finance Act, 2026 — Sections 123, 153, 202, 393 and Schedules II and XV
- Small savings interest rates, October–December 2026 — CAclubindia
Rules can change. Always confirm with your post office or bank before investing.
How the maturity value is calculated
Interest is added once a year. Deposits are made for 15 years; after that the balance keeps compounding until year 21:
Balance at year end = (last year's balance + this year's deposit) × (1 + rate)
Example:₹1,50,000 a year at 8.2% for 15 years (₹22,50,000 in total) grows to ₹71,82,119 after 21 years.
Frequently asked questions
What is the Sukanya Samriddhi interest rate now?
8.2% a year for Oct–Dec 2026. The government reviews it every quarter.
For how many years do I have to deposit?
For 15 years from opening. The account then keeps earning interest without deposits until it matures 21 years after opening. In the example below, the balance after 15 years is ₹44,75,989, and the last 6 years of interest alone take it to ₹71,82,119.
What if I miss a year's deposit?
The account goes into default. You can regularise it any time within 15 years of opening by paying the minimum deposit for each missed year plus a ₹50 penalty per year. Even if you never do, the money already in the account keeps earning the scheme rate.
Is Sukanya Samriddhi tax-free?
Yes. Interest and all payments from the account are tax-free under both regimes. Deposits qualify for a deduction under Section 123 of the Income-tax Act, 2025 (the old Section 80C) if you choose the old tax regime.
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- Government schemesPost Office MIS CalculatorMonthly income from Post Office MIS
- LoansEMI CalculatorMonthly loan instalment and repayment schedule
Last updated . For information only — not financial advice. Check the final figures with your lender or bank.