Sukanya Samriddhi Yojana (SSY) Interest Rate Since Inception

About the Sukanya Samriddhi Yojana Interest Rate Data

Sukanya Samriddhi Yojana (SSY) was introduced in January 2015 as a government-backed savings scheme for the long-term financial needs of a girl child. Its interest rate is set by the Government of India and has changed at different points since the scheme's introduction.

IndiaGraphs tracks the historical SSY interest rate from the scheme's inception, allowing users to examine how returns offered under the scheme have evolved over time. The dataset records notified interest rates rather than the actual returns earned by individual account holders.

How Have SSY Interest Rates Changed Since 2015?

The interest rate offered under Sukanya Samriddhi Yojana has not remained constant since its launch. Changes in government small-savings policy and the broader interest rate environment have influenced the rates notified over different periods.

In the initial years, small-savings rates were generally announced for the financial year. From April 2016, the government moved to quarterly interest rate notifications for small-savings schemes, including SSY.

A quarterly review does not necessarily mean a quarterly change. The same SSY rate may remain applicable for several consecutive quarters, creating periods of stability in the historical series.

Who Determines the SSY Interest Rate?

SSY interest rates are notified by the Ministry of Finance, Government of India, as part of the small-savings interest rate framework.

The framework takes into account yields on government securities of comparable maturity and the applicable policy formula. However, the rate actually offered to account holders is the rate officially notified for the relevant period.

SSY interest rates should therefore not be treated as market-linked returns that change daily with bond yields.

Does an SSY Interest Rate Revision Affect Existing Accounts?

Yes. The interest rate applicable to an SSY account is not permanently fixed when the account is opened.

When the government revises the notified SSY rate, the revised rate applies to eligible balances in existing accounts as well as newly opened accounts during the relevant period.

An account opened in 2015, for example, does not continue earning the interest rate that was applicable in 2015 throughout its entire tenure.

How Is Interest Calculated on an SSY Account?

Interest is calculated monthly on the lowest balance in the account between the close of the fifth day and the end of the month. The accumulated interest is credited annually.

The timing of deposits therefore affects interest earnings. Deposits made before the monthly cut-off can earn interest for that month, while later deposits may begin earning interest from the following month.

Interest credited annually becomes part of the account balance, allowing subsequent interest to accumulate on earlier earnings.

Why Historical SSY Rates Cannot Predict Maturity Value

The interest rate chart shows the rates applicable during different periods. It does not represent the investment return earned by every SSY account.

The maturity amount depends on several factors, including the amount deposited, timing of contributions, interest rates applicable during the account's lifetime and the period for which funds remain invested.

Under the scheme's standard structure, deposits may be made for 15 years from account opening, while the account ordinarily matures after 21 years, subject to the scheme rules.

Any calculation assuming that today's SSY rate will remain unchanged for 21 years should therefore be treated as an illustration, not a guaranteed maturity projection.

SSY vs PPF: Understanding the Interest Rate Difference

Sukanya Samriddhi Yojana and the Public Provident Fund (PPF) are both government-backed small-savings schemes, but they serve different purposes and have different account rules.

SSY is designed specifically for eligible girl children, while PPF is a broader long-term savings scheme. Their notified interest rates may also differ across quarters.

Comparing their historical rates can help users understand how the government has priced these two savings instruments over time. However, an interest-rate comparison alone does not account for differences in eligibility, contribution limits, withdrawal conditions and maturity rules.

Explore the historical PPF interest rate dataset for comparison.

Using the Historical SSY Interest Rate Data

The IndiaGraphs dataset can be used to study interest rate changes since the scheme's introduction in 2015, identify periods of rate stability and compare SSY with other government small-savings instruments.

Use the chart above to examine the historical interest rate series and download the available data for further analysis.

When interpreting the data, distinguish between rates notified for a particular period and the effective return on an individual account. Historical rates describe past policy decisions; they do not establish what rates will be offered in future quarters.