On March 23, 2026, Minister of State for Finance, Pankaj Chaudhary, informed the Lok Sabha that the Sukanya Samriddhi Yojana has consistently shown a year-on-year increase in both the number of accounts opened and total deposits since its launch on January 22, 2015. As of 2024-25, a total of 424.57 lakh accounts have been opened under the scheme, with total deposits amounting to ₹2.99 lakh crore.
The interest rate on the Sukanya Samriddhi Yojana has remained at 8.2% per annum from January 1, 2024, onwards, making it one of the highest offering interest rate schemes that also provide tax benefits under the Old Tax Regime. This competitive interest rate has helped attract more subscribers to the scheme, with the number of accounts opened and total deposits showing a steady growth over the years.
According to data presented by the Ministry of Finance, the number of SSY accounts opened has increased from 4.2 lakh in 2014-15 to 424.57 lakh in 2024-25, while the total deposits have risen from ₹0.001 lakh crore to ₹2.99 lakh crore during the same period. The scheme’s popularity can be gauged from the fact that the number of accounts opened has consistently increased over the years, with a growth rate of 15.6% in 2024-25 compared to the previous year.
The Sukanya Samriddhi Yojana is a small savings scheme launched by the central government to encourage families to invest in the education of a girl child. The scheme offers a range of tax benefits, including deductions under Section 80C of the Income Tax Act, 1961, and tax-free interest and maturity proceeds. To open an SSY account, one needs to provide a filled registration form, birth certificate of the girl child, ID proof of the depositor, and residential proof of the depositor.
In response to a question in the Lok Sabha, Chaudhary clarified that the current interest rate of 8.2% per annum is already in place, and therefore, the question of revising the interest rate does not arise. He also stated that there has been no decline in participation due to interest rate changes, and deposits have continued to increase year after year.
TR Baalu, a member of Parliament, had suggested restoring the earlier interest rate of SSY to boost subscriptions. However, the government has made it clear that the current rate is competitive and attractive, and there is no need to revise it. The scheme’s interest rates have undergone several changes since its inception, with the highest rate being 9.2% per annum from April 1, 2015, to March 31, 2016.
And as the scheme continues to attract more subscribers, it’s clear that the government’s efforts to promote the education and welfare of girl children are bearing fruit. But the key to the scheme’s success lies in its ability to provide a competitive interest rate and tax benefits, making it an attractive option for families looking to invest in their girl child’s future.
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