Sukanya Samriddhi Yojana (SSY)

Sukanya Samriddhi Yojana (SSY) is a government-backed small savings scheme designed exclusively for the girl child, launched under the Beti Bachao Beti Padhao initiative. A parent or legal guardian can open one SSY account per girl child, for a maximum of two girl children per family (three in case of twin girls on second birth). The account can be opened at any post office or authorised bank branch.

The interest rate for SSY is set by the government quarterly and has historically been among the highest available on any small savings instrument — currently 8.2% per annum (Q1 FY 2026-27), compounded annually. This makes it significantly more attractive than PPF (7.1%) or FDs. Contributions of minimum ₹250 and maximum ₹1.5 lakh per year are eligible for deduction under Section 80C of the Income Tax Act.

The account matures when the girl turns 21, or when she gets married after turning 18, whichever is earlier. Partial withdrawal of up to 50% of the balance is allowed after the girl turns 18, for education expenses. Our editorial team verified the current interest rate and eligibility criteria against the India Post SSY portal and Ministry of Finance circular, July 2026.