Customer Preference and Financial Productivity of the Sukanya Samriddhi Yojana: Evidence from India Post Payments Bank

Abstract

The Sukanya Samriddhi Yojana (SSY) is a flagship Government of India small-savings scheme designed to secure the financial future of the girl child. This study examines the determinants of customer preference for SSY and the scheme's perceived financial productivity, with reference to India Post Payments Bank (IPPB). Primary data were collected from 115 respondents through a structured, Likert-scaled questionnaire and analysed using percentage analysis, descriptive statistics, Pearson correlation, multiple regression, and ANOVA. Respondents held positive perceptions across all constructs (means above 3.0), with satisfaction and performance rated highest (3.29). Correlation analysis revealed a strong association between financial-productivity factors and satisfaction (r = 0.827). The regression model explained 72.5% of the variance in preference and satisfaction (R² = 0.725) and was highly significant (F = 97.45, p < 0.001). Financial-productivity factors (B = 0.555, p < 0.001) and social and cultural factors (B = 0.287, p = 0.001) significantly influenced preference, whereas economic factors did not (B = 0.001, p = 0.992). The findings show that attractive, government-guaranteed long-term returns and social-cultural motivations — rather than immediate economic circumstances — drive preference, and they highlight IPPB's role in extending the scheme through its postal network.