Calculate exact maturity amount for your daughter's SSY account. 8.2% interest rate — highest among all small savings schemes.
| Scheme | Interest Rate | Lock-in | Tax Status | Who Can Invest |
|---|---|---|---|---|
| Sukanya Samriddhi (SSY) | 8.2% | 21 years | EEE (triple tax-free) | Parents of girl child (0-10 yrs) |
| PPF | 7.1% | 15 years | EEE (triple tax-free) | All individuals |
| NSC | 7.7% | 5 years | ETE (interest taxable) | All individuals |
| Senior Citizen FD | 7.0–7.5% | 5 years | TDS applicable | Senior citizens only |
| ELSS (Mutual Fund) | 12–15% (estimated) | 3 years | LTCG tax after ₹1L | All individuals |
Sukanya Samriddhi Yojana (SSY) is a government-backed small savings scheme launched in 2015 under the Beti Bachao Beti Padhao initiative. It is designed to help parents secure their daughter's future — for education, marriage or any other purpose — with guaranteed tax-free returns.
Who can open: Natural/legal guardian of a girl child below 10 years of age.
How many accounts: Maximum 2 accounts — one for each daughter. Exception: twins/triplets in the second birth.
Minimum deposit: ₹250 per year (if you miss a year, ₹50 penalty).
Maximum deposit: ₹1,50,000 per year (qualifies for Section 80C).
Deposit period: 15 years from account opening date.
Maturity: 21 years from opening OR at daughter's marriage after age 18.
After the daughter turns 18 years old, you can withdraw up to 50% of the balance at the end of the previous financial year. This is useful for higher education expenses. Full closure is allowed after age 18 if she is getting married.
Visit any post office or authorized bank (SBI, HDFC, ICICI, PNB, BOB, Canara Bank etc.) with: daughter's birth certificate, parent's Aadhaar and PAN, passport photo, and initial deposit (minimum ₹250). Most banks now offer online SSY account opening.
Both Post Office and SBI offer identical SSY interest rate of 8.2% — there is no difference in returns. The government fixes the rate quarterly and it applies to all authorized banks and post offices equally.
| Feature | Post Office SSY | SBI SSY |
|---|---|---|
| Interest Rate | 8.2% (same) | 8.2% (same) |
| Online Access | IPPB App / Post Office | SBI YONO App ✅ |
| Passbook | Physical passbook | Digital + Physical |
| Availability | Every village/town ✅ | SBI branches only |
| Best For | Rural areas, small towns | Urban users, SBI account holders |
Authorized banks for SSY: SBI, HDFC, ICICI, PNB, BOB, Canara Bank, Post Office and 20+ more.
Sukanya Samriddhi Yojana (SSY) is India's best government savings scheme for girl children, offering 8.2% interest per annum (Q1 FY 2026-27) — the highest rate among all government small savings schemes. Operated through any SBI branch or post office, SSY account can be opened for a girl child below 10 years. Maximum deposit: ₹1.5 lakh/year. Deposits for 15 years, account matures at 21 years from opening or when daughter turns 21. All interest and maturity amount is completely tax-free (EEE status).
₹1.5 lakh/year × 15 years in SSY at 8.2%: Maturity value at 21 years = ₹65.93 lakh! Total invested = ₹22.5 lakh. Tax-free profit = ₹43.43 lakh. Compare with PPF (7.1%): same investment gives ₹40.68 lakh — SSY gives ₹25 lakh more! SSY is the highest-returning EEE (fully tax-exempt) government scheme in India.
Visit any SBI branch or post office with: girl child's birth certificate, parent/guardian Aadhaar and PAN, address proof, and passport photograph. Minimum deposit to open: ₹250. Account can be opened in any SBI branch across India. You can also open SSY through India Post Payments Bank app digitally if you have an IPPB account. Transfer existing SSY account between post office and bank freely.
Partial withdrawal: After daughter turns 18, up to 50% of the previous year's balance can be withdrawn for higher education expenses. Full withdrawal: At maturity (21 years from account opening) or if daughter marries after age 18 (premature closure allowed on marriage). Premature closure also allowed on death of account holder or in extreme compassionate cases. No penalty for withdrawal on marriage after 18 years.