Sukanya Samriddhi Yojana turns 10: How the SSY interest rate moved in 10 years

Sukanya Samriddhi Yojana (SSY) completed 10 years on Wednesday (January 22, 2025). Launched by Prime Minister Narendra Modi on January 22, 2015, the scheme has encouraged families to invest in the bright futures of their daughters in the last decade.

As per the Ministry of Finance, the scheme had over 4.2 crore subscribers until November 2024. SSY account allows to invest a minimum ₹250 and a maximum ₹1.5 lakh in a year in the name of a girl child.

SSY interest rate history

The SSY account offered 9.1% interest at the time of launch between January 21, 2015, and March 3, 2015.

For a one-year duration starting from April 1, 2015, the SSY account offered a 9.2% interest rate, attracting millions of subscribers.

However, in later years the scheme witnessed a low rate of 7.6% for 3 years. Since January 1, 2024, it has offered an 8.2% interest rate.

The following table shows the movement of SSY interest rate in the last decade.

Source: Post Office

How is SSY interest calculated?

The interest on investments in an SSY account is calculated monthly based on the lowest balance in the account between the close of the fifth day and the end of the month.

However, this interest is credited to the account at the end of the financial year regardless of any changes in the account office due to transfers.

Who can open an SSY account?

The guardian of a girl child can open an SSY account immediately after her birth. The maximum age limit for opening this account is 10 years.

To be eligible for having an SSY account, the girl child should be a resident Indian at the time of opening the account till the time of maturity/closure.

One SSY account is allowed for a girl child. Parents can open a maximum of two SSY accounts for each of their children. However, an exception is allowed for more accounts in the case of twins or triplets.