Frequently Asked Questions

Here you will find the answers to all the frequently asked questions regarding the sukanya samriddhi yojana.

Sukanya samriddhi yojana is a saving scheme launched by the central government of India. The main intention behind this scheme is to provide a better future for a girl child. Also, it's part of the "Beti Bachao Beti Padhao" campaign. Parents or guardians can use this fund for further education or marriage expenses of a girl child.

A girl child needs to be below 10 years of age to open the account.

Parents or legal guardians can open only one account in the name of a girl child. But per family, up to two accounts are allowed. So, if you have more than one girl child, you can open two accounts for two girl children. In the case of twin girls, you can open three accounts.

The current interest rate of SSY scheme is 8.2%. Also, you can check out the previous interest rate here.

You can open an account through any post office or authorized bank in India.

Visit the nearest post office or authorized bank and submit the following documents to open the account.

  1. Sukanya samriddhi yojana account opening form. You can collect the SSY form from the bank/post office or download it from here: https://nsiindia.gov.in.
  2. Birth certificate of a girl child.
  3. Photo ID proof of applicant parent or guardian.
  4. Residence proof of applicant parent or guardian.
  5. Other KYC proof (i.e. PAN Card or Voter ID).
  6. A medical certificate is required if multiple children are born at the same time.

You can deposit minimum Rs. 250 and maximum Rs. 1.5 lakh in a financial year.

The deposit period in the SSY scheme is 15 years. But the maturity period is 21 years. So, you will earn interest on the invested amount for 6 years without depositing funds. But you can deposit more funds if you want.

Withdrawal is only allowed if the girl child attains the age of 18 years or after the maturity period (21 years). If the girl child passes away, the parent or guardian can withdraw the available balance in the SSY account.

Yes, the amount you will receive after maturity is tax free under section 10 of I.T.Act.

The account shall be deactivated and you can re-activate it by paying a penalty fee of Rs. 50.

No, there is no facility to open the SSY account online. You need to visit the nearest bank or post office to open the account.