Sukanya Samriddhi Yojana for Your Daughter
Sukanya Samriddhi Yojana (SSY) is a government savings scheme designed for the girl child. A parent or guardian can open an account for a daughter under 10 years of age, and it offers one of the highest interest rates among small savings schemes.
You deposit for 15 years, but the account matures 21 years after opening — so it continues earning interest even after deposits stop. Like PPF, SSY enjoys EEE tax status, and contributions qualify for Section 80C deduction.
Frequently Asked Questions
When does an SSY account mature?
The account matures 21 years from the date of opening. Deposits are made only for the first 15 years; the balance keeps earning interest until maturity.
What is the current SSY interest rate?
The current Sukanya Samriddhi Yojana rate is 8.2% per annum, compounded annually and reviewed quarterly by the government.