Celebrating a Decade of Sukanya Samriddhi Yojana: A Look at Interest Rate Trends

Celebrating a Decade of Sukanya Samriddhi Yojana: A Look at Interest Rate Trends.
The Sukanya Samriddhi Yojana (SSY) reached its 10-year milestone on January 22, 2025. Introduced by Prime Minister Narendra Modi on January 22, 2015, this initiative has motivated families to invest in their daughters’ futures over the past decade.
According to the Ministry of Finance, the scheme had more than 4.2 crore subscribers as of November 2024. The SSY account allows for an annual investment ranging from a minimum of ₹250 to a maximum of ₹1.5 lakh in the name of a girl child.
SSY rate history:
The interest rate for the SSY account is determined by the Ministry of Finance every quarter, and it has experienced fluctuations over the past decade. On average, the annual return from the scheme has remained around 8% or higher for 7 out of the 10 years since its introduction.
When the SSY account was first launched, it offered an interest rate of 9.1% between January 21, 2015, and March 3, 2015. For the one-year period starting April 1, 2015, the interest rate increased to 9.2%, which attracted many subscribers. However, in the following years, the interest rate dropped to a low of 7.6% for three consecutive years. As of January 1, 2024, the interest rate has been set at 8.2%.
For a clear overview, a table detailing the movement of the SSY interest rate over the last decade would provide a concise summary of these changes.
From:Â Â Â Â Â Â Â Â Â To:Â Â Â Â Â Â Â Â Â Â Â Interest:Â
21-01-2015 31-03-2015 9.1
01-04-2015 31-03-2016 9.2
01-04-2016 30-09-2016 8.6
01-10-2016 31-03-2017 8.5
01-04-2017 30-06-2017 8.4
01-07-2017 31-12-2017 8.3
01-01-2018 30-09-2018 8.1
01-10-2018 31-12-2018 8.5
01-01-2019 31-03-2019 8.5
01-04-2019 30-06-2019 8.5
01-07-2019 30-09-2019 8.4
01-10-2019 31-12-2019 8.4
01-01-2020 31-03-2020 8.4
01-04-2020 30-09-2022 7.6
01-10-2022 31-12-2022 7.6
01-01-2023 31-03-2023 7.6
01-04-2023 30-06-2023 8
01-07-2023 31-12-2023 8
01-01-2024 31-03-2024 8.2
How is SSY calculated?
SSY (Sukanya Samriddhi Yojana) interest is calculated on the lowest balance in the account between the close of the fifth day and the end of the month. This calculation is done on a monthly basis, but the interest earned is credited to the account only at the end of the financial year, regardless of any changes in the account due to transfers.
Who can open SSY?
As for who can open an SSY account, it can be opened by the guardian of a girl child right after her birth. The maximum age limit for opening this account is 10 years. To be eligible for an SSY account, the girl child must be a resident Indian at the time of opening the account and remain so until the account matures or is closed.
Parents can open one SSY account for each girl child, with a maximum of two accounts allowed for their children. However, there is an exception for parents of twins or triplets, who can open more accounts as needed.