Sukanya samridhi yojana

Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme that was launched in January 2015 as part of the Beti Bachao Beti Padhao campaign. This sukanya samriddhi yojana scheme aims to promote the welfare of the girl child and provide long-term financial security for their education and marriage expenses.

Sukanya samriddhi yojana details under the SSY scheme, parents or legal guardians can open a savings account for their girl child who is below ten years of age. The account can be opened at any sukanya samriddhi yojana post office or authorised bank branch.

Sukanya samridhi yojana


The scheme currently offers an annual sukanya samriddhi yojana rate of interest 7.6% (as of April-June 2021), which is compounded annually. The minimum amount to open an account is Rs. 250, and the maximum amount per financial year is Rs. 1.5 lakh.

The scheme permits deposits in multiples of Rs. 100 with no limit on the number of deposits. The minimum deposit amount in a financial year is Rs. 250, and the maximum amount is Rs. 1.5 lakh.

Sukanya samridhi yojana | Apply online for SSY 

The maturity period of the SSY scheme is 21 years from the date of the account opening, and partial withdrawals are allowed only after the girl child reaches the age of 18 years. The funds can be used for the higher education or marriage of the girl child.

Sukanya samridhi yojana tax benefit

The SSY scheme also offers income tax benefits under section 80C of the Income Tax Act, 1961. The contributions made to the account and the interest earned are tax-free.

sukanya samriddhi yojana benefits

High Interest Rate: The Sukanya Samriddhi Yojana interest rate (SSY) offers a high interest rate of 7.6% per annum, which is higher than most other fixed-income investment options.

Tax Savings: 

Contributions to the SSY are eligible for tax deductions under Section 80C of the Income Tax Act, up to a maximum limit of Rs. 1.5 lakh.

Long-Term Savings: 

The sukanya samriddhi yojana scheme has a long-term horizon, spanning over a period of 21 years, which helps parents save for their daughter’s education and wedding.

Easy to Open: 

The Sukanya Samriddhi Yojana account is easy to open and can be done by visiting any post office or authorized bank branch.

Flexible Deposit Options: 

The scheme allows you to make periodic deposits in multiples of Rs. 100, with a minimum deposit of Rs. 250 per year.

No Risk of Market Fluctuations: 

The SSY is a government-backed scheme, and hence there is no risk of market fluctuations. The interest rate is fixed and guaranteed.

Withdrawal Facility: 

The scheme allows partial withdrawals after the girl child attains the age of 18 years for the purpose of higher education or marriage.

Transferability: 

The SSY account is transferable across India, making it convenient for parents who frequently relocate.

Social Security: 

The scheme provides social security to the girl child as it encourages parents to save and plan for their future.

Sukanya Samriddhi Yojana Chart

Here is the Sukanya Samriddhi Yojana chart:

Age of girl child Maximum amount that can be deposited annually (in INR) Minimum amount that can be deposited annually (in INR) Interest rate (as of January 2021)

  • 0-1 year       1,50,000 250 7.6%
  • 1-2 years     1,50,000 250 7.6%
  • 2-3 years     1,50,000 250 7.6%
  • 3-4 years     1,50,000 250 7.6%
  • 4-5 years     1,50,000 250 7.6%
  • 5-6 years     1,50,000 250 7.6%
  • 6-7 years     1,50,000 250 7.6%
  • 7-8 years     1,50,000 250 7.6%
  • 8-9 years     1,50,000 250 7.6%
  • 9-10 years   1,50,000 250 7.6%
  • 10-11 years 1,50,000 250 7.6%
  • 11-12 years 1,50,000 250 7.6%
  • 12-13 years 1,50,000 250 7.6%
  • 13-14 years 1,50,000 250 7.6%
  • 14-15 years 1,50,000 250 7.6%

Note: The amount deposited in the Sukanya Samriddhi Yojana account is eligible for tax benefits under Section 80C of the Income Tax Act, 1961.

Sukanya Samriddhi Yojana Documents

The following documents are required to open a Sukanya Samriddhi Yojana account:

  • Birth certificate of the girl child, which should include the name and date of birth.
  • Identity proof of the parent or guardian opening the account, which can be a PAN card, Aadhaar card, passport, or driving license.
  • Address proof of the parent or guardian, which can be a passport, driving license, Aadhaar card, or utility bill.
  • Passport-sized photographs of the girl child and the parent or guardian.
  • The account opening form, which can be obtained from the bank or post office.
  • Additional documents may be required depending on the bank or post office where the account is being opened.

Sukanya Samriddhi Yojana Eligibility

The Sukanya Samriddhi Yojana eligibility criteria are as follows:

  • The account can be opened in the name of a girl child below the age of 10 years by the parent or legal guardian.
  • The account can be opened only for two girls in a household.
  • The account holder must be a resident Indian.
  • The minimum deposit to open an account is Rs. 250 and the maximum is Rs. 1.5 lakhs in a financial year.
  • The account can be continued till the girl child reaches the age of 21 years.
  • Partial withdrawal is allowed after the girl child reaches the age of 18 years.
  • The account can be closed prematurely in the event of the death of the account holder or on the grounds of extreme medical emergencies.
  • The interest rate is fixed by the government and is subject to revision every quarter.
  • Tax benefits can be availed of under Section 80C of the Income Tax Act, 1961.

Sukanya Samriddhi Yojana Sbi 

You can follow the below steps to apply for Sukanya Samriddhi Yojana through SBI:

  • Visit your nearest SBI branch and gather all the necessary documents required for the application.
  • Fill in the Sukanya Samriddhi Yojana account opening form with all required personal details.
  • Submit the required documents, such as the birth certificate of the girl child, identity, and address proof of parents or guardians.
  • Deposit the minimum amount of Rs. 250 to open the account.
  • Once the account is opened, provide the account number and other details to avail the services of the scheme.

Note: You can also apply for Sukanya Samriddhi Yojana account online through the SBI Net Banking portal or by visiting the official website of SBI.

For further information or assistance, please contact your nearest SBI branch.

Sukanya Samriddhi Yojana Online Payment

To make online payment for Sukanya Samriddhi Yojana, follow the below steps:

  • Visit the official website of your bank or post office where you have the savings account for the scheme.
  • Login to your account using your user ID and password.
  • Navigate to the section where you can make online payments.
  • Choose the option for Sukanya Samriddhi Yojana payments.
  • Enter the amount you wish to deposit.
  • Select the mode of payment – net banking, debit card or credit card.
  • Fill in the required details and proceed with the payment.
  • Once your payment is successful, an acknowledgement of the same will be sent to your registered email ID and mobile number.

Sukanya Samriddhi Yojana Calculator

To calculate the returns on your SSY account, you can use an online calculator. There are many calculators available on the internet, and you can select one that suits your needs. The calculator will require you to enter the annual deposit amount, the interest rate, and the maturity period of the account. Once you enter these details, the calculator will generate the projected returns on your account.

FAQ for SSY

Q: Sukanya Samriddhi Yojana Age Limit

Ans: The account can be opened in the name of a girl child below the age of 10 years by the parent or legal guardian.

Q: When was started sukanya samriddhi yojana 

Ans: January 2015