Sukanya Samriddhi Yojana: Is your money safe? Government clarifies
New Delhi: The government has ruled out any immediate revision in the Sukanya Samriddhi Yojana (SSY) interest rate, reaffirming stability in one of India’s most popular small savings schemes for the girl child.
Responding to queries in the Lok Sabha on March 23, Minister of State for Finance Pankaj Chaudhary said there is no proposal to alter the SSY interest rate. He clarified that restoring the rate to 8.1 per cent “does not arise”, with the scheme currently offering a competitive 8.2 per cent annual interest rate.
The statement comes amid speculation over possible changes in returns and signals the government’s intent to maintain consistency in small savings schemes during a period of strong investor participation.
SSY sees strong growth in accounts and deposits
The Sukanya Samriddhi Yojana, launched to secure the financial future of the girl child, has witnessed remarkable growth over the past decade.
- 2014–15: 4.20 lakh accounts
- 2024–25: 424.57 lakh accounts
This more than 100-fold increase highlights sustained investor confidence in the scheme, even as interest rates have fluctuated over time.
Deposits under SSY have also surged significantly:
- 2014–15: ₹0.001 lakh crore
- 2024–25: ₹2.99 lakh crore
The steady rise indicates that families are not only opening accounts but actively investing for long-term financial planning, girl child education and marriage goals.
Also Read| India’s SEZ exports surge 32 pc: What this means for economy
How Sukanya Samriddhi Yojana interest rates are decided
The SSY interest rate is reviewed quarterly along with other government-backed savings instruments such as the Public Provident Fund (PPF) and the National Savings Certificate (NSC).
Rates are determined based on:
- Yields on government securities (G-Secs) of comparable maturity
- Recommendations of the Shyamala Gopinath Committee
This ensures that SSY remains aligned with market trends while offering attractive returns to small investors.
SSY interest rate trend over years
The scheme’s interest rates have evolved in line with broader economic conditions:
- 2014–16: Above 9%
- 2016–18: Around 8.3%–8.6%
- 2018: Around 8.1%
- 2020–23: Around 7.6%
- 2024 onwards: Stable at 8.2%
Despite these fluctuations, SSY continues to rank among the highest-return small savings schemes in India.
Also Read| Jewellery sales losing shine: Why India’s gold buyers are changing strategy
Why Sukanya Samriddhi Yojana remains popular
The scheme continues to attract investors due to its strong fundamentals:
- Government-backed safety and reliability
- Tax deduction up to ₹1.5 lakh under Section 80C
- Completely tax-free returns (EEE category)
- Long-term wealth creation for the girl child
- Disciplined savings with guaranteed returns
With stable interest rates, tax benefits, and rising participation, the Sukanya Samriddhi Yojana remains a preferred choice for families looking to secure their daughter’s financial future while benefiting from high-interest government savings schemes.