Sukanya Samriddhi Yojana (SSY) is a small savings scheme launched by the Government of India under the 'Beti Bachao Beti Padhao' campaign, designed to help parents and legal guardians build a education and marriage fund for a girl child. It offers one of the highest interest rates among government-backed savings instruments along with full income-tax exemption. This guide explains who can open an account, what documents are needed, the current deposit and interest rules, and how withdrawals work in 2026.
What Is Sukanya Samriddhi Yojana?
SSY is a government-backed fixed-deposit-style savings account that can be opened in the name of a girl child by her parent or legal guardian. The account can be opened at any India Post office or at authorised branches of major public and private sector banks. It falls under the EEE (Exempt-Exempt-Exempt) tax category, meaning the deposit, the interest earned, and the maturity amount are all tax-free under Section 80C of the Income Tax Act.
Eligibility Criteria
- ●The account must be opened in the name of a girl child, from birth until she turns 10 years old
- ●The account can be opened by a natural parent or a legal guardian of the girl child
- ●A family can open the account for a maximum of two girl children
- ●A third account is permitted only in case of twins or triplets born after the first girl child, subject to a declaration and medical proof
- ●The girl child must be an Indian resident for the account to remain valid
Documents Required
- ●SSY account opening form (Form SSA-1), available at the post office/bank branch or on the India Post website
- ●Birth certificate of the girl child, issued by the municipal authority or registrar
- ●Identity proof of the parent/guardian — Aadhaar card, PAN card, Passport or Voter ID
- ●Address proof of the parent/guardian — Aadhaar card, utility bill or passport
- ●Passport-size photographs of the girl child and the parent/guardian
- ●Medical certificate in case of twins or triplets (only if opening a third account)
Current Interest Rate & Deposit Limits
The interest rate on SSY is set by the Ministry of Finance and revised every quarter. For the Jan-Mar 2026 quarter the rate stands at 8.2% per annum, compounded annually — always confirm the latest notified rate on the National Savings Institute website before depositing, since it changes quarter to quarter.
| Minimum annual deposit | ₹250 |
| Maximum annual deposit | ₹1,50,000 |
| Deposit period | 15 years from the date of account opening |
| Account maturity | 21 years from the date of account opening, or on marriage of the girl after age 18 |
| Mode of deposit | Cash, cheque, demand draft or online transfer (bank/IPPB) |
| Number of deposits allowed per year | Any number, subject to the annual maximum |
Interest is calculated on the lowest balance in the account between the 5th and the last day of each month, and is credited to the account at the end of every financial year.
How to Open an SSY Account
- 1Download Form SSA-1 (Account Opening Form) from the India Post website at https://www.indiapost.gov.in or collect it from your nearest post office/bank branch
- 2Fill in the girl child's name, date of birth, and the guardian's details on the form
- 3Attach the girl child's birth certificate, guardian's ID proof, address proof, and photographs
- 4Visit your nearest post office counter or an authorised bank branch (SBI, PNB, Bank of Baroda, ICICI, HDFC and others) and submit the form with the minimum opening deposit of ₹250
- 5Collect the passbook issued at the counter — this passbook is your official record of the SSY account and must be produced for every future deposit or withdrawal
How to Deposit Money Using India Post Payments Bank (IPPB)
- 1Open the 'IPPB Mobile Banking' app and log in with your IPPB account credentials
- 2Tap 'DOP Products' on the home screen
- 3Select 'Sukanya Samriddhi Account' from the list of linked Post Office schemes
- 4Enter your SSY account number exactly as printed on the passbook and confirm the linked details
- 5Enter the deposit amount and tap 'Pay' to transfer funds from your IPPB/savings account into the SSY account
- 6Save the transaction reference number shown on the confirmation screen and update your physical passbook at the post office when convenient
Tax Benefits
Deposits up to ₹1.5 lakh per financial year qualify for deduction under Section 80C of the Income Tax Act (available only under the old tax regime). The interest earned every year and the final maturity amount are both fully exempt from tax, making SSY one of the few EEE-category savings instruments still available to Indian families.
Withdrawal & Account Closure Rules
| Partial withdrawal for education | Up to 50% of the balance at the end of the previous financial year, allowed once the girl turns 18 or passes 10th standard, whichever is earlier |
| Full maturity withdrawal | After 21 years from account opening |
| Premature closure on marriage | Allowed any time after the girl turns 18, on submission of marriage proof |
| Premature closure on other grounds | Permitted after 5 years in case of the guardian's death or the girl child's life-threatening medical condition, on furnishing supporting documents |
If the minimum deposit of ₹250 is not made in any financial year, the account is marked 'irregular'. It can be reactivated by paying a penalty of ₹50 per missed year along with the shortfall in minimum deposit, any time before the account matures.
Where to Open an SSY Account
- ●Any departmental post office across India
- ●State Bank of India (SBI) branches
- ●Punjab National Bank, Bank of Baroda, Bank of India, Canara Bank and other public sector banks
- ●Select private banks including ICICI Bank, HDFC Bank and Axis Bank (branch opening only)
Fees & Charges
There is no account opening fee for SSY. The only charge applicable is the ₹50 per-year penalty if the minimum annual deposit of ₹250 is missed, payable at the time of reactivating an irregular account.
SSY currently offers one of the highest interest rates among all government small savings schemes, combined with complete tax exemption on deposit, interest and maturity — making it a strong long-term option for a girl child's education or marriage fund.
Helpline & Support
For queries related to post-office-opened SSY accounts, call the India Post customer care helpline at 1800-266-6868 (toll-free) or visit your account-opening post office branch. For bank-opened accounts, contact the respective bank's customer care number printed on your passbook, or visit the branch where the account was opened.