👧 Sukanya Samriddhi Yojana (SSY) – Complete 2025 Guide
Sukanya Samriddhi Yojana (SSY) is a small savings scheme launched under the Government’s Beti Bachao Beti Padhao campaign to encourage parents to build a financial corpus for their girl child’s education and marriage expenses. This scheme offers one of the highest interest rates among small savings instruments and comes with tax benefits under Section 80C.
🌟 Key Objectives of SSY
The primary objectives of Sukanya Samriddhi Yojana are:
- To promote the welfare of the girl child in India.
- To encourage parents to save regularly for the future of their daughters.
- To reduce the financial burden of higher education and marriage.
- To provide a secure, government-backed investment with attractive interest rates.
💡 Features & Benefits
- ✅ Attractive interest rate (currently 8.2% per annum – subject to quarterly revision).
- ✅ Deposits can be made up to 15 years from the date of account opening.
- ✅ Maturity after 21 years from account opening or at the time of marriage after girl turns 18.
- ✅ Minimum deposit: ₹250 per year, Maximum: ₹1.5 lakh per year.
- ✅ Tax benefits under Section 80C (up to ₹1.5 lakh).
- ✅ Interest earned is tax-free.
- ✅ Partial withdrawal allowed for higher education after girl turns 18.
👩👩👧 Eligibility Criteria
- The account can be opened for a girl child below the age of 10 years.
- Only one account per girl child is allowed.
- A family can open a maximum of two accounts (for two girl children).
- In case of twin girls or triplets, special provisions allow more than two accounts.
📄 Documents Required
- Birth certificate of the girl child.
- Identity proof of parent/guardian (Aadhaar, PAN, Passport, etc.).
- Address proof of parent/guardian (Aadhaar, Voter ID, Utility bill, etc.).
- Photograph of the girl child and parent/guardian.
🏦 Where to Open SSY Account
- Any post office across India.
- Authorized banks such as SBI, PNB, HDFC, ICICI, Bank of Baroda, Axis Bank.
- Branches with Core Banking Solution (CBS) facility for easy deposits.
🖥️ Step-by-Step Process
- Visit your nearest post office or bank branch.
- Collect the Sukanya Samriddhi Yojana account opening form or download from NSI India official website.
- Fill in details of the girl child, guardian, address, and KYC information.
- Attach documents and photographs.
- Deposit minimum amount (₹250 or more).
- Receive passbook with account details and start depositing annually.
💰 Deposit & Maturity Rules
| Particular | Details |
|---|---|
| Minimum Annual Deposit | ₹250 |
| Maximum Annual Deposit | ₹1,50,000 |
| Deposit Duration | Up to 15 years |
| Maturity Period | 21 years from account opening |
| Premature Closure | Allowed in case of marriage (after 18) or medical emergency |
📊 Interest Calculation
Interest is compounded annually and credited to the account at the end of each financial year. The rate is revised quarterly by the Ministry of Finance. SSY usually offers higher interest compared to PPF or NSC, making it a preferred choice for long-term savings for daughters.
🧾 Tax Benefits
Deposits made in SSY qualify for tax deduction under Section 80C of the Income Tax Act (up to ₹1.5 lakh). The interest earned and maturity amount are completely exempt from tax under the EEE (Exempt-Exempt-Exempt) regime.
📞 Helpline & Contact
Post Office Helpline: 1800-266-6868
Bank Helpline: Contact respective bank’s customer care
Official Resource:
NSI India Website
❓ FAQs
1. Can I open SSY account online?
Some banks allow online application through internet banking. Otherwise, visit the branch/post office.
2. Can deposits be made monthly?
Yes, deposits can be made monthly, quarterly, or annually – there is no restriction on frequency.
3. What happens if I miss a yearly deposit?
Account can be revived with a small penalty of ₹50 per year of default plus minimum deposit.
4. Can I transfer account from post office to bank?
Yes, inter-branch and inter-institution transfer is allowed anywhere in India.
5. Is partial withdrawal allowed?
50% of balance can be withdrawn for higher education of the girl child after she turns 18.