The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme launched under the Beti Bachao Beti Padhao initiative to secure the financial future of a girl child in India. It allows parents or legal guardians to open an account for their daughter below 10 years of age and deposit amounts ranging from ₹250 to ₹1.5 lakh annually.
About Sukanya Samriddhi Yojana
The Sukanya Samriddhi Yojana (SSY) is a flagship savings scheme launched by the Government of India under the Beti Bachao Beti Padhao initiative. It aims to promote the welfare and financial security of the girl child by encouraging parents to save for her future education and marriage. The scheme offers one of the highest interest rates among small savings schemes and provides tax benefits under Section 80C of the Income Tax Act.
Overview of Sukanya Samriddhi Yojana
| Feature | Details |
|---|---|
| Scheme Name | Sukanya Samriddhi Yojana (SSY) |
| Launched By | Government of India |
| Launched Under | Beti Bachao Beti Padhao Campaign |
| Managed By | Ministry of Finance |
| Account Type | Small Savings Scheme for Girl Child |
| Eligible Beneficiary | Girl child below 10 years of age |
| Minimum Deposit | ₹250 per year |
| Maximum Deposit | ₹1,50,000 per year |
| Interest Rate (2025) | 8.2% p.a. (compounded annually) |
| Maturity Period | 21 years from account opening |
| Tax Benefit | Available under Section 80C |
| Partial Withdrawal | Allowed after the girl turns 18 years old |
| Official Website | https://www.indiapost.gov.in / https://www.nsiindia.gov.in |
Purpose of the Scheme
The primary purpose of the Sukanya Samriddhi Yojana is to:
- Encourage parents to build a secure financial future for their daughters.
- Promote gender equality and empowerment through savings and education.
- Reduce financial burdens related to higher education and marriage expenses.
Key Benefits of Sukanya Samriddhi Yojana
- High Interest Rate:
SSY offers an attractive interest rate, higher than most fixed deposits or savings schemes. - Tax Benefits:
Deposits, interest earned, and maturity amounts are all exempt from tax under Section 80C (EEE – Exempt, Exempt, Exempt). - Long-Term Savings:
The scheme runs for 21 years, ensuring financial stability for the girl’s future. - Flexible Deposit Options:
Parents can deposit any amount between ₹250 and ₹1,50,000 per year. - Secure Government-Backed Scheme:
As a government initiative, it is one of the safest investment options available.
Eligibility Criteria
| Criteria | Description |
|---|---|
| Who Can Open | Parents or legal guardians of a girl child |
| Age Limit | Girl must be below 10 years at the time of account opening |
| Number of Accounts | Maximum of two girl children per family (exception for twins/triplets) |
| Residency | The girl child must be an Indian resident |
Required Documents
| Document Type | Purpose |
|---|---|
| Birth Certificate of the Girl Child | Proof of age |
| Identity Proof of Parent/Guardian | Aadhaar, PAN, Voter ID, etc. |
| Address Proof | Aadhaar, Passport, Utility Bill, etc. |
| Photograph | Passport-size of parent and child |
| Bank Account Details | For linking and deposit purposes |
How to Apply for Sukanya Samriddhi Yojana
You can open an SSY account either offline or online:
Offline Method (Post Office/Bank)
- Visit your nearest Post Office or authorized bank branch (SBI, HDFC, ICICI, Axis, etc.).
- Fill out the Sukanya Samriddhi Account opening form.
- Attach all necessary documents.
- Submit the form with an initial deposit (minimum ₹250).
- The account will be activated, and a passbook will be issued.
Online Method
Some banks offer partial online application:
- Log in to your bank’s internet banking portal.
- Navigate to the “Small Savings Schemes” or “SSY Account” section.
- Fill in details and upload documents.
- Deposit the required amount online.
Application Status Check
To check the application or account status:
- Visit your bank’s website or Post Office portal.
- Use your account number or application reference number.
- Check balance, interest earned, and deposit history online.
Registration and Login
| Action | Platform | Details |
|---|---|---|
| Online Registration | Through Bank’s NetBanking or Post Office Portal | Requires valid customer ID |
| Login | Using Internet Banking credentials | To view deposits, balance, or maturity details |
Contact Us
For any queries related to Sukanya Samriddhi Yojana:
India Post (For Post Office Accounts)
- Website: www.indiapost.gov.in
- Customer Care: 1800-266-6868
National Savings Institute (NSI)
- Website: www.nsiindia.gov.in
- Email: nsi@nic.in
Frequently Asked Questions (FAQs)
Q1. Can both parents open separate SSY accounts for the same child?
No. Only one account per girl child is allowed.
Q2. What happens if I miss a yearly deposit?
The account becomes inactive but can be revived with a penalty of ₹50 and the minimum deposit amount.
Q3. Can NRIs open Sukanya Samriddhi Accounts?
No, only Indian residents can open and operate SSY accounts.
Q4. When can partial withdrawal be made?
After the girl turns 18, up to 50% of the balance can be withdrawn for higher education.
Q5. What happens after maturity?
After 21 years or upon marriage (whichever is earlier), the account matures, and the full amount along with interest is paid to the account holder.
Conclusion
The Sukanya Samriddhi Yojana is a highly beneficial and secure savings option for parents looking to invest in their daughter’s future. With high interest rates, tax benefits, and long-term growth, SSY not only encourages savings but also empowers the next generation of girls through financial independence.