What is Sukanya Samriddhi Yojana?
Sukanya Samriddhi Yojana (SSY) is a government-backed girl child savings scheme launched under the "Beti Bachao, Beti Padhao" campaign. It offers one of the highest interest rates among small savings schemes with complete tax benefits.
- 8.2% interest rate per annum (highest among govt savings schemes)
- Open account for girl child below 10 years of age
- Minimum deposit: ₹250/year, Maximum: ₹1.5 lakh/year
- Account matures in 21 years from opening
- Triple tax benefit: deposits, interest, and maturity — all tax-free
Official Government Websites
SSY Key Features at a Glance
| Feature | Details |
|---|---|
| Interest Rate | 8.2% p.a. (Q1 FY 2026-27) |
| Minimum Deposit | ₹250 per year |
| Maximum Deposit | ₹1,50,000 per year |
| Deposit Period | First 15 years from account opening |
| Maturity | 21 years from opening OR marriage after 18 |
| Tax Status | EEE — fully tax-free (Sec 80C + interest + maturity) |
| Girl Child Age | Below 10 years at time of account opening |
| Accounts per Family | Maximum 2 (3rd for twins/triplets) |
Eligibility for SSY
Requirements
- Girl child must be below 10 years of age
- Account opened by natural or legal guardian
- Only one account per girl child
- Maximum 2 accounts per family
- Resident Indian girls only (NRI not eligible)
Documents Required
- Birth certificate of the girl child
- Guardian's Aadhaar Card / PAN
- Guardian's address proof
- Passport-size photographs (child + guardian)
- Medical certificate (for twins/triplets — 3rd account)
How to Open SSY Account
Choose Post Office or Bank
Visit any post office or authorized bank (SBI, PNB, BOB, ICICI, Axis, etc.) that offers SSY.
Get SSY Account Opening Form
Get the form from the counter or download it. Fill in girl child's details, DOB, guardian's details, and nominee information.
Submit Documents
Submit the form with girl child's birth certificate, guardian's ID + address proof, and photographs.
Make Initial Deposit
Deposit minimum ₹250 (or any amount up to ₹1.5 lakh) by cash, cheque, or demand draft.
Receive SSY Passbook
You'll receive an SSY passbook with account number. Use this for all future deposits and withdrawals.
Deposit Rules
- Minimum deposit: ₹250 per year (must be deposited every year for 15 years)
- Maximum deposit: ₹1,50,000 per year
- Can deposit in multiple installments throughout the year
- If minimum ₹250 not deposited in a year, ₹50 penalty + minimum deposit required to reactivate
- Deposits can be made by cash, cheque, DD, or online transfer
- Deposits required for first 15 years only — interest accrues for remaining 6 years
Tax Benefits of SSY
- Deposits: Deductible under Section 80C up to ₹1.5 lakh per year
- Interest earned: Completely tax-free — no TDS
- Maturity amount: Entirely tax-free — no capital gains tax
Withdrawal & Maturity Rules
- Partial withdrawal: Up to 50% of balance allowed after girl turns 18 — for higher education expenses
- Premature closure: Allowed after girl turns 18 for marriage (with conditions)
- Maturity: Full amount withdrawn after 21 years or at marriage after 18
- Death of girl child: Account closed, full amount with interest given to guardian
- Transfer: Account can be transferred to any post office or bank across India
Frequently Asked Questions About SSY
8.2% per annum (Q1 FY 2026-27), compounded yearly. Government reviews the rate every quarter.
Yes. You can open up to 2 SSY accounts — one for each daughter. A 3rd account is allowed if the second birth results in twins/triplets (with medical proof).
The account becomes dormant. To reactivate, pay ₹50 penalty per year of default + minimum ₹250 deposits for all missed years.
No. SSY is only for resident Indian families. If the guardian becomes NRI after opening, the account continues but with reduced benefits. Check latest rules.
At any post office or authorized banks — SBI, PNB, BOB, ICICI Bank, Axis Bank, and many others. Post offices are most convenient.