New Delhi, Sept. 7 -- The Sukanya Samriddhi Yojana (SSY) is a popular government-backed small-savings scheme designed to help parents build a long-term corpus for a girl child's education and future economic needs. Once an individual applies for the scheme, a fresh Sukanya Samriddhi Account (SSA) gets opened in the name of their girl child.

It is important to remember that an SSY scheme account cannot be opened in the name of the parents or legal guardians. It can only be opened in the name of the girl child, while her parents act as managers of the account until the girl turns 18. As of 7 September 2026, the scheme offers an interest rate of 8.2% per annum, with rates reviewed and notified by the government periodically.

Furthermore, a...