SSY interest rate 2025: Here’s what Sukanaya Samriddhi Yojana account offers in Q4 FY 2024-25

There is no change in the interest rate of Sukanya Samirddhi Yojana (SSY) account for the last quarter of FY 2024-25. The scheme will continue to offer 8.2% interest compounded annually in the first three months of 2025.

Who can open an SSY account?

A guardian can open an SSY account in the name of a girl child aged below 10 years. As per Sukanya Samriddhi Account Rules 2019, only one account can be opened either in the Post Office or in any bank in the name of a girl child.

Further, a single-family is allowed to open only two SSY accounts in the name of two girls. However, more than two accounts are allowed in the case of twins/triplets girls born in a family.

The SSY account can be opened with a minimum initial deposit of ₹250. The maximum amount that can be deposited in this account in a financial year is ₹1.5 lakh. A guardian can choose to invest up to the maximum limit either as a lump sum or in multiple installments.

SSY account maturity

The SSY account matures after after 21 years from the date of account opening, or at the time of marriage of the girl child after she attains 18 years of age.

However, the closure of the SSY account is not allowed one month before or after three months from the date of marriage.

SSY interest calculation

Like other small savings schemes, the SSY interest rate is also subject to quarterly revision. However, assuming the current rate of 8.2% till maturity after 21 years, one can accumulate approximately ₹71 lakh by investing ₹1.5 lakh/year for 15 years.

The guardian of a girl child can deposit money in an SSY account for only up to 15 years from the date of opening.

Deposits made in the SSY account qualify for deduction under section 80C of the Income Tax Act 1961. The interest earned on deposits in an SSY account is also tax-free and it is credited at the end of each financial year.