Sukanya Samriddhi Yojana at a glance
- Interest rate of 8.2% a year (October to December 2026 quarter), compounded yearly.
- The account can be opened any time from the girl's birth until she turns 10.
- Minimum INR. 250/- and maximum INR. 1,50,000/- in a financial year.
- Once the account holder turns 18 or passes Class 10, whichever comes first, she can withdraw up to 50% of the balance at the end of the previous financial year for her education.
- The account matures and can be closed after 21 years.
- Plan to withdraw the money at maturity. The 2019 scheme rules, unlike the original 2014 rules, don't say the balance keeps earning interest after 21 years.
Prime Minister Narendra Modi launched Sukanya Samriddhi Yojana (the girl child prosperity scheme) in January 2015 to help families pay for a girl's education and marriage. The Sukanya Samriddhi Account is a small deposit scheme for the girl child, part of the ‘Beti Bachao Beti Padhao’ campaign. It pays interest of 8.2 per cent a year for October to December 2026, and deposits qualify for an income tax deduction under Section 80C (section 123 of the Income-tax Act, 2025) if you use the old tax regime.
Objective: to promote the welfare of the girl child.
Who can open the account: a natural or legal guardian, in the girl's name, any time from her birth until she turns ten.
Maximum number of accounts: two girls per family, or more if twin or triplet girls are born at the first or second birth.
Minimum and maximum deposit: an initial deposit of at least 250, then multiples of fifty rupees, with at least Rs.250 and up to Rs.150000 in a financial year.
Tenure: 21 years from the date the account is opened.
How long you can deposit: 15 years from the date the account is opened.
Interest: paid at the rate the Government of India declares every quarter. The rate is 8.2% for October to December 2026, the same as since 1 January 2024.
Tax: deposits get the Section 80C deduction under the old tax regime, and the interest and maturity amount are tax-free.
Premature closure: allowed if the girl dies, or, after five years, on compassionate grounds such as treatment for a life-threatening illness or the death of the guardian. It can also be closed early for her marriage once she is 18.
Missed payments and revival: pay a penalty of Rs.50 for each year missed, plus the minimum deposit for that year. You can do this any time within the 15 years of deposits.
How to deposit: cash, cheque or demand draft.
Withdrawal: 50% of the balance at the end of the previous financial year, for her education, once the girl turns 18 or passes Class 10, whichever comes first.