The Sukanya Samriddhi Yojana (SSY), launched to secure the financial future of the girl child, has quietly become a go-to savings option for many Indian families over the past decade. SSY accounts have jumped from just 4.2 lakh in 2014–15 to 424.57 lakh in 2024–25, while total deposits have surged to Rs 2.99 lakh crore. What stands out is that this growth hasn’t slowed even when interest rates changed over time. That suggests investors are sticking with the scheme not just for the rate, but for its long-term benefits and reliability.
No plan to revise SSY interest rae for now
Amid recent speculation about a possible rollback in returns, the government has clarified that no such move is under consideration.
Replying to questions in the Lok Sabha on March 23, 2026, Minister of State for Finance Pankaj Chaudhary said there is no proposal to revise the SSY interest rate, and the question of restoring it to 8.1 per cent “does not arise”. He added that the scheme continues to offer 8.2 per cent per annum, which remains competitive among small savings instruments.
The statement signals a clear preference for stability, especially at a time when the scheme is already witnessing strong growth.
10-year growth story: Accounts jump sharply
The growth of SSY over the past decade has been hard to miss.
- 2014–15: 4.20 lakh accounts
- 2024–25: 424.57 lakh accounts
That’s a more than 100-fold jump in just 10 years. What’s important is that this rise has been steady, not sudden — showing that families have continued to open accounts year after year, even when interest rates moved up or down.
Deposits mirror surge, touch Rs 2.99 lakh crore
It’s not just the number of accounts — the money flowing into the scheme has also grown sharply.
- 2014–15 deposits: Rs 0.001 lakh crore
- 2024–25 deposits: Rs 2.99 lakh crore
This tells you one thing clearly: people are not just opening accounts, they are actively investing in them. For many families, SSY has become a reliable way to build a long-term fund for their daughter’s future needs.
How SSY interest rates are decided?
SSY interest rates are not random. They are reviewed every quarter, along with other small savings schemes like PPF and NSC.
- Yields on government securities (G-secs) of similar maturity
- Recommendations of the Shyamala Gopinath Committee
In simple terms, rates are linked to broader market conditions — but still kept attractive enough for small savers.
Interest rate journey over the years
SSY rates have changed over time, broadly in line with overall interest rate trends:
- 2014–16: Above 9 per cent
- 2016–18: Around 8.3–8.6 per cent
- 2018: Close to 8.1 per cent
- 2020–23: Dropped to 7.6 per cent
- 2024 onwards: Stable at 8.2 per cent
Even with these changes, SSY has remained among the better-paying options in the small savings space.
Why SSY continues to attract investors?
There are a few simple reasons why people keep choosing SSY:
- It is backed by the government, so it feels safe
- You get tax deduction up to Rs 1,50,000 under Section 80C
- Returns are completely tax-free
- Money grows steadily over the long term
- It is focused on securing a girl child’s future
