Sukanya Samriddhi Yojana 2026: eligibility, interest rate, how to open an account and withdrawal rules

The Sukanya Samriddhi Yojana is a government small savings scheme for a girl child, offered through Post Offices and authorised banks. An account can be opened in the name of a girl who has not turned 10, with ₹250 to ₹1.5 lakh deposited in a financial year, and it matures 21 years after opening. The NSI rate table shows 8.2% a year from 1 January 2024 to 30 September 2026, and the Finance Ministry kept small savings rates unchanged for 1 October to 31 December 2026. This guide explains each rule using only official sources.

What is the Sukanya Samriddhi Yojana and who runs it?

The Sukanya Samriddhi Yojana, also called the Sukanya Samriddhi Account Scheme, is a small savings scheme of the Government of India meant only for a girl child. It was launched on 22 January 2015 under the Beti Bachao, Beti Padhao campaign and is meant to meet the education and marriage expenses of a girl child.

The scheme belongs to the Ministry of Finance, and the National Savings Institute (NSI) publishes its rules and forms. Accounts are opened and handled at India Post offices and authorised banks. The rules now in force are the Sukanya Samriddhi Account Scheme, 2019, notified on 12 December 2019 and amended on 5 May 2020. A PIB note of 21 January 2026 says more than 4.53 crore accounts had been opened by December 2025.

What are the benefits, and how is the account taxed?

• Government-notified interest: the rate is set by the Government every quarter and the interest is credited to the account once a year.
• Long saving period: deposits are made for 15 years and the account matures after 21 years.
• Education support: part of the balance can be withdrawn for the girl’s education.
• Transfer: the account can be moved from one Post Office or bank to another anywhere in India.
• Interest after maturity: if the account is not closed at maturity, it keeps earning interest at the Post Office Savings Account rate (PIB note, January 2026).

Tax as stated by NSI: the deposit qualifies for deduction under Section 80-C of the Income Tax Act, and the interest earned is free from income tax under Section 10. The NSI page does not give the deduction limit or explain how it works under each tax regime, so check with the Income Tax Department or a tax adviser for your own case.

Who can open an account, and what is the age rule?

• A guardian opens the account in the name of a girl child who has not attained the age of 10 years on the date of opening. It can be opened any time from her birth.
• A PIB note (January 2025) says the girl must be a resident Indian from opening until maturity or closure.
• Only one account can be held in the name of a girl child.
• A family can open accounts for a maximum of two girl children. Here “family” means a person, the spouse and their children.
• More than two accounts are allowed for twins or triplets born in the first or second order of birth, if the guardian submits an affidavit with the birth certificates. This does not apply to a second-order girl if the first birth gave two or more surviving girls.
• A new account cannot be opened for a girl who is already 10 or older.

The guardian operates the account until the girl is 18. After that she operates it herself by submitting the necessary documents.

How much can you deposit, and how do deposits work?

The financial year runs from 1 April to 31 March. The deposit rules in the 2019 Scheme are:

Item	Rule
First deposit	At least ₹250
Later deposits	In multiples of ₹50
Minimum in each financial year	₹250
Maximum in each financial year	₹1.5 lakh (₹1,50,000)
Period for deposits	Up to 15 years from the date of opening

If money above ₹1.5 lakh is accepted in a year because of an accounting error, it earns no interest and is returned to the depositor. After 15 years no more deposits are made, but the account stays open until it matures at 21 years. Plan the yearly amount so that you meet the minimum every year, because missing it puts the account in default (see the section on missed deposits below).

What is the interest rate? It is revised every quarter

The rate is not fixed for the life of the account. The Government announces the rate for small savings schemes every quarter, so check the rate for the quarter in which you deposit. The NSI table of rates gives these recent figures for the Sukanya Samriddhi account:

Period	Rate a year
1 April 2020 to 31 March 2023	7.6%
1 April 2023 to 31 December 2023	8.0%
1 January 2024 to 30 September 2026	8.2%

An Office Memorandum of the Department of Economic Affairs dated 30 September 2026 says the rates for the third quarter of FY 2026-27 (1 October to 31 December 2026) remain unchanged from the second quarter. So the rate shown above continues for that quarter. The rate for any later quarter will be announced separately.

Interest is worked out every month on the lowest balance between the close of the fifth day and the end of the month. It is credited to the account at the end of each financial year.

When does the account mature, and when can money be withdrawn?

• Maturity: the account matures 21 years after the date of opening. The account holder applies in Form-4 to receive the balance with interest.
• Withdrawal for education: up to 50% of the balance at the end of the previous financial year can be withdrawn on Form-3. This is allowed after the girl turns 18 or passes the tenth standard, whichever is earlier. The application needs proof such as a confirmed offer of admission or a fee-slip from the institution.
• How it is paid: in one sum or in instalments, not more than one a year for a maximum of five years, and limited to the actual fees and charges shown in the document.
• Closure for marriage: after the girl is 18, the account can be closed early on her marriage. She must give a declaration on non-judicial stamp paper attested by a notary, with proof of age showing she is at least 18 on the date of marriage. Closure is allowed within one month before the intended marriage or within three months after it.

Which documents do you need, and how do you open the account?

Documents (PIB note, January 2026): the account opening form (Form-1, available at the Post Office or bank), the girl’s birth certificate, an Aadhaar number, and a PAN or Form 60. The 2019 Scheme also asks for the guardian’s documents. Earlier PIB notes list identity and residence proof as per RBI KYC rules, so ask your branch which papers it will accept.

Steps:

1. Go to an India Post office, a public sector bank branch or an authorised private bank (HDFC Bank, Axis Bank, ICICI Bank or IDBI Bank, as listed by PIB).
2. Ask for the Sukanya Samriddhi account opening form and fill in the guardian’s and the girl’s details.
3. Attach the birth certificate and the guardian’s documents.
4. Make the first deposit of at least ₹250, in multiples of ₹50.
5. Ask for the account number and keep all receipts safe.

The official pages we read do not describe any online opening process, so use the branch.

What if you miss a deposit or need to close the account early?

• Missed deposit: an account in which the minimum ₹250 is not deposited in a financial year is treated as under default. It can be regularised at any time within 15 years from opening by paying a penalty of ₹50 for each year of default along with the minimum annual deposit for each defaulted year. If it is not regularised in time, paragraph 4(5) of the Scheme says the whole deposit stays eligible for interest until the account is closed.
• Death of the account holder: the account is closed on application in Form-2 with the death certificate. The balance and interest up to the date of death are paid to the guardian.
• Extreme hardship: if the operation of the account causes undue hardship, for example medical support for a life-threatening disease of the account holder or the death of the guardian, the accounts office may allow closure after full documentation and written reasons. Such closure is not allowed before five years from opening.

For any other situation, ask the branch to show you the rule it is applying.

Where can you get help or make a complaint?

NSI says depositors should first contact the officer-in-charge of the Post Office or bank branch, or the next postal or bank authority. If the problem is not solved there, you can file an online complaint through the link under ‘Grievance/Complaint’ on the NSI website, or on the CPGRAMS portal (pgportal.gov.in). NSI gives a maximum of 45 days for redressal.

You can also send a complaint or a question about the rules by post or e-mail to the regional centre of the National Savings Institute in your area or to its headquarters: First Floor, ICCW Building, 4 Deen Dayal Upadhyaya Marg, New Delhi-110002, e-mail nsi@nsiindia.gov.in. The NSI pages we read do not list a toll-free helpline number, so we have not given one. Use only the official websites nsiindia.gov.in and pgportal.gov.in for complaints.