Sukanya Samriddhi Yojana July Interest Rate: The Finance Ministry has announced the Sukanya Samriddhi Yojana (SSY) interest rate for the second quarter of financial year 2025–26. From July to September 2025, the SSY scheme will continue to offer the same 8.2% yearly interest. This rate has not changed since April 2024. Even though many people thought the rate might be reduced this time, the government decided to keep it the same.
Who can Open SS?
This savings scheme is made only for the girl child, and it is one of the most popular small saving options.
- Parents or legal guardians can open this account in the name of their girl child who is less than 10 years old.
BSES Launches Exchange Scheme: Get Up to 89% Off on ACs and Fans
Only one SSY account is allowed for a girl, and it can be opened either in a post office or a bank. A family can open SSY accounts for up to two daughters. But if a family has twins or triplets, then more than two SSY accounts are also allowed.
The SSY account is meant to help families save for their daughter’s future. The account offers 8.2% interest per year. The interest is compounded every year, which means you earn interest on your interest too. You can put in a maximum of ₹1.5 lakh every year in this account. When the scheme ends and the money is withdrawn after maturity, no tax will be charged on that amount. That makes it a very good and safe saving plan for many families.
How does it Works?
Since the RBI reduced the repo rate by 1% (or 100 basis points) earlier this year, the interest earned from G-secs (Government securities) also went down. Because of this, there were talks that the government might reduce interest rates for all small savings schemes including SSY. But keeping in mind the goal of supporting the girl child and encouraging families to save, the Finance Ministry has not changed the SSY interest rate for now.
Employee State Insurance Scheme: Who can apply, What benefits you get?
If the government had reduced the rate, the total returns on this scheme would have become less. So, this news brings relief to many families who are depending on this scheme for their daughter’s future education and other needs.
The interest rate of SSY, like other schemes such as PPF, NSC, SCSS, and Post Office Time Deposit, is usually decided by looking at G-sec yields in the secondary market. But even with falling G-sec yields, the government stayed firm on keeping the SSY interest rate the same this quarter.
