Sukanya Samriddhi Yojana – Details and More..

SSY Account Girl Child

Sukanya Samriddhi Yojana

SSY Account Girl ChildSukanya Samriddhi Yojana (SSY) is a scheme exclusively for girl children, started by the Prime Minister of India Mr. Narendra Modi on 22nd January 2015 in Panipat, Haryana. The scheme mainly assists parents of a girl child to create a reserve for their education & marriage-related expenses. 

SSY scheme proposes a deposit plan for a girl child which offers a high-interest rate on deposits. Till October 2015 under Sukanya Samriddhi Yojana there were more than 7 Million active accounts with a total fund of about US $420 Million. 


Benefits of Sukanya Samriddhi Yojana

  • SSY account matures after 21 years from its inception date & the amount is disbursed to the account holder. An exception to this can be availed if the girl child is above 18 years old and intends to marry.

Sukanya Samriddhi Account Maturity Amounts

  • From the year 2016-17, the rate of interest provided in this scheme is 8.6% (P.A) compounded annually. Click Here for latest Interest Rates of SSY.
  • Now 100% withdrawal is allowed from the scheme when the account holder has attained the age of 18 years.
  • Investment in Sukanya Samriddhi Yojana scheme is exempted from Income Tax under section 80(c). Principal, interest and outflow all three are exempted from tax.
  • An SSY account can be transferred to another bank/post office on request.


Eligibility & Other Criteria

  • The account can be opened by a guardian in the name of a girl child from her birth until she becomes 10 years old.
  • Only one account is allowed per girl child.
  • The maximum number of accounts allowed are 2 by a legal guardian for two different girl child, only exceptions provided are in case if the first or the second birth are twins or triplets.
  • A minimum of *Rs 250 needs to be deposited in the Sukanya Samriddhi Account in a financial year else it is discontinued and can only be revived with a penalty of Rs 50 per year with the minimum amount required for a deposit for that year.
  • Investment in an SSY account can be increased in multiples of thousands with a cap of Rs 1,50,000 in a financial year, a regular investment is to be made for 15 years (earlier it was 14 yrs).
  • Sukanya Samriddhi Yojna account can be opened for an adopted girl child as well.
  • Loan facility is not provided against this scheme.


How to Open an SSY Account & Documents Required

  • Sukanya Samriddhi Yojana account can be opened at any Indian Post office or at a branch of an authorized bank for e.g. SBI, ICICI Bank etc.
  • SSY Account Opening Form
  • Identity proof
  • Residence proof
  • Birth Certificate of the girl child


*Amount reduced from Rs 1000 to Rs 250.


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