Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana (SSY) is a long-term investment or saving scheme launched in January 2015 by Prime Minister Narendra Modi. This scheme is aimed to provide a bright future for a girl child. Also, it's part of the "Beti Bachao Beti Padhao" campaign.

Basic Information

Current interest rate 8.2% per annum (Check out the previous rates)
Investment amount Minimum Rs. 250 and Maximum Rs. 1,50,000 in a financial year
Eligibility to open an account Girl child below 10 years
Maturity period 21 years (or until the girl marries after the age of 18 years)
Maturity amount It depends on the total invested amount

All You Need To Know About Sukanya Samriddhi Yojana

  • Parents or legal guardians can open SSY account in the name of a girl child below 10 years of age.
  • Only one account is allowed to open in the name of the girl child.
  • Only two accounts are allowed per family. So, you can open an account for up to two girl children.
  • Investor can open SSY account in post offices or authorized banks.
  • The birth certificate of a girl child, identity proof, and residence proof of the guardian is required to open the account.
  • A penalty of Rs. 50 will be charged, if investors do not deposit a minimum amount of Rs. 250 in a financial year.
  • The account can be operated by the parent or legal guardian until the girl child reaches the age of 18. After that, the girl child can operate the account herself.
  • Investors can transfer their accounts anywhere in India from one bank/post office to another.
  • The account can be prematurely closed if the beneficiary is married before the maturity of the account.
  • The account shall mature after completion of 21 years from the account opening date.
  • The account holder shall partially withdraw the amount for higher education or marriage expenses. However, the withdrawal amount is subject to certain limits and conditions.
  • Deposits made in the Sukanya Samriddhi Yojana account are eligible for deduction under section 80C of I.T.Act.
  • Interest earned during the scheme is fully exempt from Income Tax under section 10 of I.T.Act.

For more detailed information, please visit the FAQ page.

Also, use our SSY Calculator to check the estimated maturity value and interest earned.