Central government scheme · Ministry of Finance (Department of Economic Affairs; National Savings Institute)

Sukanya Samriddhi Account Scheme

Also called SSY / SSA

The Sukanya Samriddhi Account Scheme (SSY / SSA) is run by the Ministry of Finance (Department of Economic Affairs; National Savings Institute). It is a government small-savings account for a girl child, with a high fixed interest rate and tax benefits, to save for her education and marriage. The scheme is for a girl child whose account can be opened in her name until she turns 10, with only one account per girl child. Beneficiaries get interest of 8.2% a year for October-December 2026, can deposit from ₹250 to ₹1.5 lakh in a financial year, enjoy tax-free interest and deductions, receive partial withdrawals for higher education, and can close the account early for marriage after age 18. To apply, visit a post office or an authorised bank branch, fill the account opening form available on the National Savings Institute website, make the first deposit of at least ₹250, and keep depositing any amount up to ₹1.5 lakh a year.

Written by AI from the official details below.

Who can apply for SSY / SSA

  • Can be opened in the name of a girl child until she turns 10.
  • Only one account per girl child.

SSY / SSA benefits

  • Interest of 8.2% a year for October-December 2026 (rate is set by the government every quarter).
  • Deposit from ₹250 to ₹1.5 lakh in a financial year.
  • Deposits qualify for income-tax deduction under Section 80C, and the interest is tax-free under Section 10.
  • Partial withdrawal allowed for the girl's higher education expenses.
  • Account matures 21 years after opening; it can be closed early for her marriage after she turns 18.
  • Can be transferred to any post office or bank branch in India.

How to apply for SSY / SSA

  1. Visit a post office or an authorised bank branch.
  2. Fill the account opening form (available on the National Savings Institute website) and make the first deposit of at least ₹250.
  3. Keep depositing any amount up to ₹1.5 lakh a year.

Where it applies

Every state and union territory. See what else applies near you

Checked

Checked against the sources below on 16 October 2026. Rules change, so confirm on the official site before you apply.

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