Sukanya Samriddhi Yojana Interest Rate: Current Rate and History

Current sukanya samriddhi yojana interest rate

For the quarter from October to December 2026, the rate of interest is 8.2% per annum. The Department of Economic Affairs (Budget Division) in the Ministry of Finance announced it through an office memorandum dated 30.09.2026, and the Department of Posts sent it to all post offices through SB Order No. 12/2026 on the same day. Business Today, Upstox and Angel One reported the same figure.

Every quarter since 1 Jan 2024 has been at 8.2%. That date matters: the official amendment (G.S.R. 109(E), dated 12 Feb 2024) says deposits and balances earn 8.2% from 1 Jan 2024. Some news reports say April 2024, but the gazette text says January. News reports also count the number of unchanged quarters differently, so we do not quote a count. Because the rate is reviewed each quarter, check the panel above for any newer figure.

How the rate is set each quarter

The government does not fix the SSY rate for the life of the account. Instead, the Ministry of Finance announces rates for all small savings schemes before each quarter begins. The rate for a quarter applies to deposits made and balances held during that quarter.

According to Upstox, the rate is benchmarked to government security (G-sec) yields plus a spread of 75 basis points (0.75 percentage point), under the framework suggested by the Shyamala Gopinath Committee. The government can still decide to keep the rate unchanged, which is what has happened in every quarter since the rise to 8.2% on 1 Jan 2024.

This means the rate on your account is not locked when you open it. If the rate is cut in a future quarter, your balance earns the lower rate from then on, and if it is raised, the balance earns more. That is why every maturity figure on our SSY calculator is only an estimate.

How interest is calculated and credited

The scheme rules (para 5(2) of the 2019 Scheme) set out a clear method.

1. For each calendar month, interest is worked out on the lowest balance in the account between the close of the 5th day and the last day of the month.
2. The monthly amounts add up through the financial year.
3. The total is credited once a year, at the end of the financial year. Fractions of a rupee are rounded, with 50 paise or more going up to the next rupee.
4. From the next year, interest is earned on the new balance, so the effect is yearly compounding.

In practice, a deposit that reaches the account by the 5th of a month earns interest for that month. A deposit made on the 6th or later earns nothing for that month. A deposit made by 5 April earns interest for the full financial year. If you are deciding when to deposit, paying early in the month, and early in the year if possible, gets the most interest. The deposit rules page covers limits and payment modes.

Post office, SBI and bank interest rates

People often search for the post office sukanya samriddhi yojana interest rate, the SBI sukanya samriddhi yojana interest rate or the PNB rate as if they were different. They are not. The rate is notified by the government for the scheme, it is sent to every post office through the SB Order, and the scheme text has no bank-specific rate. A girl's account at a post office, at SBI, at PNB or at any other authorised bank earns the same 8.2% this quarter.

Some bank product pages do not get updated and still show an older rate. If a bank page shows a figure different from the current notified rate, go by the notified rate and ask the branch. For branch details, see our post office guide and the SBI and bank branch guide.

Sukanya samriddhi yojana interest rate history

For the sukanya samriddhi yojana interest rate over the last 10 years and more, see the table below. It is compiled from two secondary sources (Stable Investor and FreeFincal) whose tables match for every overlapping period. Rows marked official are confirmed by government notifications.

The lowest rate in this period was 7.6%, from April 2020 to March 2023. The highest was 9.2%, in 2015-16. Older bank leaflets that still quote 2014-era rules are out of date.

Interest in special situations

The normal scheme rate does not apply in every case.

• Account in default: if the minimum Rs 250 is missed in a year and not made up, the whole balance keeps earning the normal SSY rate until closure.
• Death of the account holder: SSY interest runs only until the date of death; after that, until closure, the lower savings account rate of the post office applies.
• Extreme compassionate closure: the normal SSY rate is paid.
• Transfer: if the account moves to another post office or bank during the year, interest is still credited at the end of the year.
• Excess deposit: anything paid above Rs 1,50,000 in one financial year is refunded and gets no interest.

Read the withdrawal rules for closure cases.

Is SSY interest taxable?

No. SSY is an EEE scheme, which means the yearly interest and the maturity amount are both tax-free. This holds under the old and the new tax regime. The deduction for the deposit itself is a separate matter: it is allowed only under the old regime, up to Rs 1.5 lakh in total with other eligible items. From 1 Apr 2026 that deduction falls under Section 123 of the Income-tax Act, 2025, which replaced Section 80C. See the tax benefits page for details.