Last Updated on December 29, 2023 at 9:04 pm
Sukanya Samriddhi Yojana (SSY) was launched in 2015 as a part of Beti Bachao Beti Padhao campaign. The scheme is specifically focused towards the girl child and is designed as a small savings scheme that can be used as an investment vehicle towards future expenses of the girl child, like education and marriage. In 2019, the government notified a new Sukanya Samriddhi Account Scheme 2019 to replace the Sukanya Samriddhi Account Scheme 2016. An SSY account can be opened in any post office and most commercial banks. The age limit for account opening is up to 10 years from the date of birth of the girl child, who must be a resident of India. The parents can open up to 2 SSY accounts, one each of up to 2 girl children (exception allowed for twins, triplets etc.). The girl child becomes the account holder when she reaches 18 years of age.
A minimum amount of Rs 250 must be deposited in the scheme each financial year to keep the account active. The corpus will continue to earn the notified interest rates even for default accounts. The maximum investment is Rs 1.5 lakh every financial year, which can be claimed as a deduction under section 80C, and deposits can be made only up to the end of the 15th year from the account opening year. The interest income from the SSY and the maturity/withdrawal amount is also tax-free. Therefore, SSY is one of the few schemes with the EEE (Exempt-Exempt-Exempt) status.
The scheme matures on completion of 21 years from the account opening date or when the girl gets married, whichever is earlier. Up to 50% of the balance at the end of the previous financial year in the SSY account can also be withdrawn for the girl child’s higher education once she passes 10th standard or attains 18 years of age, whichever is earlier. The entire corpus can also be withdrawn for the marriage of the girl child before the 21-year period, provided the girl has attained 18 years of age.
The SSY interest rates have steadily decreased since the scheme’s launch, which aligns with interest rate trends in other fixed-income instruments. However, the scheme still earns one of the highest interest rates compared to other small savings schemes like PPF and fixed-income instruments.
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This is a table of Sukanya Samriddhi Yojana (SSY) interest rates from 2015 to the present.
Sukanya Samriddhi Yojana Interest Rate History 2015 to Present
| Period | Rate |
| Jan 2024 – Mar 2024 | 8.20% |
| Oct 2023 – Dec 2023 | 8.00% |
| Jul 2023 – Sep 2023 | 8.00% |
| Apr 2023 – Jun 2023 | 8.00% |
| Jan 2023 – Mar 2023 | 7.60% |
| Oct 2022 – Dec 2022 | 7.60% |
| July 2022 – Sept 2022 | 7.60% |
| April 2022 – June 2022 | 7.60% |
| January 2022-March 2022 | 7.60% |
| October 2021-December 2021 | 7.60% |
| July 2021-September 2021 | 7.60% |
| April 2021-June 2021 | 7.60% |
| January 2021-March 2021 | 7.60% |
| October 2020-December 2020 | 7.60% |
| July 2020-September 2020 | 7.60% |
| April 2020-June 2020 | 7.60% |
| January 2020-March 2020 | 8.40% |
| October 2019-December 2019 | 8.40% |
| July 2019-September 2019 | 8.40% |
| April 2019-June 2019 | 8.50% |
| January 2019-March 2019 | 8.50% |
| October 2018-December 2018 | 8.50% |
| July 2018-September 2018 | 8.10% |
| April 2018-June 2018 | 8.10% |
| January 2018-March 2018 | 8.10% |
| October 2017-December 2017 | 8.30% |
| July 2017-September 2017 | 8.30% |
| April 2017-June 2017 | 8.40% |
| January 2017-March 2017 | 8.50% |
| October 2016-December 2016 | 8.50% |
| July 2016-September 2016 | 8.60% |
| April 2016-June 2016 | 8.60% |
| 2015-16 | 9.20% |
| 2014-15 (from Jan 2015) | 9.10% |
Also See: PPF Interest Rate History 1968 to Present
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