Sukanya Samriddhi Yojana - Eligibility & Benefits

One of the few government-backed schemes tailored towards the empowerment of girl children is the Sukanya Samriddhi Yojana. If you have a girl child, you can open an SSY account by visiting the nearest post office. Here’s everything you need to know about this unique savings scheme.

What is the Sukanya Samriddhi Yojana (SSY)?

The Sukanya Samriddhi Yojana (SSY) was announced on January 22, 2015 by the Indian Government as part of the Beti Bachao Beti Padhao (BBBP) initiative. The primary objective of the SSY scheme is to encourage parents of girl children to save up for their future. Once the account matures, the corpus can be used by the girl child to fund her higher education or to take care of her marriage expenses. The Sukanya Samriddhi Yojana empowers girl children by making them financially independent.

Sukanya Samriddhi Yojana Age Limit and Maturity Period

The Sukanya Samriddhi Yojana has clearly specified the age limit for opening an account. Parents of a girl child can open an SSY account with a post office or a notified Scheduled Commercial Bank (SCB) at any time before the child turns 10 years of age.

The Sukanya Samriddhi account matures when the girl child attains 21 years of age. Upon maturity, the corpus ceases to earn interest and can be withdrawn by the account holder. Alternatively, the funds in the account can be accessed by the girl if she gets married after attaining 18 years of age.

Benefits of Sukanya Samriddhi Yojana

The benefits of Sukanya Samriddhi Yojana are multiple for both the parents and the girl child. Here’s a quick overview of some key advantages of this scheme.

Account Opening & Deposits

The Sukanya Samriddhi Yojana (SSY) allows parents to open an account for a girl child under 10 years with a minimum deposit of ₹250 and a maximum of ₹1.5 lakh annually. Deposits are required for 15 years, while the scheme matures in 21 years. Missed payments can be revived with a ₹50 penalty plus the minimum deposit.

Attractive Interest & Tax Benefits

SSY offers one of the highest interest rates, around 8.2% in FY25–26, higher than most fixed deposits. It enjoys EEE tax status: deposits qualify for deduction under Section 80C, interest earned is tax-free, and the maturity amount is also exempt from tax.

Withdrawals & Closure

Up to 50% of the balance can be withdrawn after the girl turns 18 to fund higher education, with proof of admission. The account can also be closed if she marries at 18, with a declaration made at least one month before or within three months after the marriage.

Flexibility & Eligibility

Premature withdrawal is allowed after 5 years in cases like life-threatening illness or the guardian’s death. Inactive accounts can be revived. Families can open accounts for up to two daughters, or three in the case of twins or triplets.

Tax Benefits of Sukanya Samriddhi Yojana

To make the savings scheme more attractive, the Government of India has bestowed different tax benefits for Sukanya Samriddhi Yojana:

Triple Tax Exemption (EEE)

Sukanya Samriddhi Yojana offers EEE status—Exempt-Exempt-Exempt.

Exempt-1: Investments up to ₹1.5 lakh per financial year qualify for tax deduction under Section 80C.
Exempt-2: Interest earned is fully tax-free under Section 10(11A), and it compounds annually.
Exempt-3: The maturity amount, including principal and interest, is completely tax-exempt.

Tax-Free Withdrawals

Partial withdrawals of up to 50% of the account balance are allowed once the girl turns 18. These are tax-free if used for education or marriage, with supporting documents as proof.

Eligibility for Tax Deduction

The SSY account must be opened in the name of a girl below 10 years. Only one account is allowed per child, with a maximum of two accounts per family (exceptions for twins/triplets). The parent or guardian who deposits the amount is the one eligible to claim tax benefits under Section 80C.

Other Value-Adding Features

Deposits start from ₹250 per year and go up to ₹1.5 lakh. Only 15 years of contributions are needed, but the account earns interest until maturity at 21 years. Missed payments can be revived with a ₹50 penalty and minimum deposit.

Sukanya Samriddhi Yojana Interest Rate

The Government of India notifies the interest rate for the scheme on a quarterly basis.

SSY Interest Rate for FY 2025–26

For the first quarter (April–June 2025), the government has set the Sukanya Samriddhi Yojana (SSY) interest rate at 8.2% per annum, compounded annually. This makes SSY one of the highest-yielding small savings schemes in India.

Calculation of Sukanya Samriddhi Yojana Interest

The interest is calculated on the lowest balance in the Sukanya Samriddhi account in a month. For the purpose of interest calculation, the balance in the account between the fifth and last days of the month is considered.

What Is an SSY Calculator?

The Sukanya Samriddhi Yojana calculator is a simple online tool that helps parents estimate how much their investment will grow over time under the SSY scheme. It calculates maturity value, interest earned, and the final year of maturity based on inputs like contribution amount, start year, and the girl child’s age.

How It Works

Using the compound interest formula, the calculator provides accurate projections based on current interest rates. It supports both monthly and annual contributions, helping you understand the long-term benefits of your investment.

Key Benefits

Easy to use, requiring no manual calculations
Helps in planning yearly deposits to meet future financial goals
Allows adjustments in investment inputs to compare outcomes
Shows the exact maturity year and projected returns

Why Use It?

For parents seeking a secure, tax-free way to save for their daughter’s education or marriage, the SSY calculator is an essential planning tool. With the investment period lasting 21 years and contributions required for only 15, it provides clear visibility into your savings journey.

Sukanya Samriddhi Yojana Eligibility

There are certain criteria that need to be satisfied for eligibility of Sukanya Samriddhi Yojana account.

Basic Eligibility Criteria

The girl child must be below 10 years of age and a resident Indian citizen at the time of account opening. Only a parent or legal guardian can open and operate the account. One account is allowed per girl child, and a family may open a maximum of two accounts.

Special Cases

If a girl is born before or as part of a twin/triplet birth, a third SSY account is allowed. However, if a girl is born after twins/triplets, no additional account can be opened.

Deposit Rules

The parent or guardian can deposit between ₹250 and ₹1.5 lakh per year, for 15 years from the date of opening. The account matures after 21 years. Early withdrawal is permitted if the girl gets married after 18, with proper documentation.

Aadhaar & PAN Requirements

It is mandatory to provide Aadhaar and PAN when opening the account.

If Aadhaar is unavailable, proof of enrolment must be submitted and Aadhaar provided within 6 months.
PAN must be submitted within 2 months if the balance exceeds ₹50,000, annual deposits exceed ₹1 lakh, or withdrawals exceed ₹10,000 in a month.

Failure to submit these documents will render the account inoperative until compliance.

How to Apply for Sukanya Samriddhi Yojana?

To apply for Sukanya Samriddhi Yojana, you need to first open an account with a post office or a notified Scheduled Commercial Bank (SCB). The process you need to follow to open an account is listed below:

Offline Application Process

Visit a participating bank or post office to collect the Sukanya Samriddhi Yojana (SSY) account opening form. Fill in key details such as the girl child’s name, parent or guardian’s information, date of birth, and initial deposit amount. Attach required documents including the birth certificate, proof of identity and address of the guardian, and passport-sized photographs. Submit the completed form with a minimum deposit of ₹250, and upon approval, the account will be activated and a passbook issued.

Online Deposit Through IPPB

Although the SSY account cannot be opened entirely online, deposits can be made digitally via the India Post Payments Bank (IPPB) app. After account activation, link it through the IPPB app by entering your SSY account number and DOP customer ID. Set up one-time or recurring payments by transferring funds to your IPPB account and configuring the deposit amount and frequency.

This process allows both offline and online management of the SSY account, helping families secure their daughter’s future with ease and convenience.

How to Open an Online Sukanya Samriddhi Yojana Account in Bank?

Opening a Sukanya Samriddhi Yojana SSY account online in bank is a convenient way to start saving for your daughter’s future. Several major banks in India now offer this facility through their internet and mobile banking platforms.

Can You Open It Online?

Yes, many Indian banks like SBI, HDFC, ICICI, and Axis Bank allow online Sukanya Samriddhi Yojana account opening for existing savings account holders. While the initial application can be done online, some banks may require final verification at a branch.

Documents Required

Girl child’s birth certificate
Parent or guardian’s Aadhaar and PAN
Valid address proof
Scanned passport-sized photographs (if required)
Details of existing savings account

Steps to Open SSY Account Online

Log in to your bank’s net banking or mobile banking platform.
Go to the “Government Schemes” or “Open SSY Account” section.
Enter the child’s and guardian’s personal details.
Upload all required scanned documents clearly.
Set your initial deposit amount (minimum ₹250).
Review and confirm the details, then submit the application.
Verify using OTP and wait for confirmation. A digital or physical passbook will be issued.

Important Points

Each girl child can have only one SSY account. A family can open SSY accounts for up to two girls (three in case of twins). The account earns annual compounded interest and can be transferred between authorised banks and post offices.

How to Open Post Office SSY Account?

Opening a post office SSY account is a simple and convenient option for many families across India. With minimal paperwork and wide accessibility, the post office offers a trusted way to start saving for your daughter’s future.

Why Choose the Post Office?

Opening a Sukanya Samriddhi Yojana (SSY) account at a post office is easy, safe, and accessible, especially in rural or remote areas. Post offices don’t require you to have a separate savings account, and the SSY account can be transferred between branches if needed.

Required Documents

To open an SSY account, carry the following:

Girl child’s birth certificate
Parent/guardian’s ID proof (Aadhaar, PAN, etc.)
Address proof (ration card, voter ID, utility bill, etc.)
Passport-sized photos
Filled SSY account opening form

Step-by-Step Process

Visit your nearest post office.
Collect or download the SSY form.
Fill in child and guardian details accurately.
Attach self-attested document copies.
Deposit a minimum of ₹250 via cash, cheque, or DD.
Receive the SSY passbook once the account is opened.

Deposits and Management

Future deposits can be made in cash, cheque, or even online if linked to India Post Payments Bank. Always update the passbook for record-keeping.

Opening an SSY account through the post office is a practical way to secure your daughter’s future through disciplined and long-term savings.

Documents Required for Sukanya Samriddhi Yojana

The list of documents required for Sukanya Samriddhi Yojana account opening with a bank or a post office is as follows:

Core Documents Required

To open a Sukanya Samriddhi Yojana (SSY) account, the following documents are mandatory:

Birth Certificate of the Girl Child – Confirms the child’s age (below 10 years) and relationship with the applicant.
Identity Proof of the Parent or Guardian – Aadhaar Card, PAN, Passport, Voter ID, or Driving Licence.
Address Proof of the Parent or Guardian – Aadhaar, Passport, recent utility bill, bank passbook, or ration card.
Passport-sized Photographs – Typically 2–4 photos of both the girl child and parent/guardian.

Additional Documents (If Applicable)

Adoption Certificate – Required if the child is adopted.
Guardianship Certificate – Needed if someone other than a biological parent is applying.

Collect or download the SSY form from an authorised bank or post office. Complete the form and attach photocopies of all necessary documents. Submit it along with an initial deposit (minimum ₹250). Originals should be carried for verification. Once approved, the account will be opened and a passbook issued.

These documents ensure proper identification and eligibility verification for this government-backed scheme.

Withdrawal Rules for Sukanya Samriddhi Yojana Account Holders

The SSY is meant to support the long-term future of the girl child, especially for education and marriage. So, there are specific rules for withdrawal.

Full Withdrawal

You can withdraw the entire amount once the scheme matures, 21 years after account opening. The girl child must be at least 18, and documents like ID proof and passbook are required.

Premature Closure

This is permitted only in exceptional cases such as, death of the girl child, Life-threatening illness (requires medical proof) or Extreme financial hardship (with supporting documents)

Partial Withdrawal for Education

Up to 50% of the balance (as of the previous financial year) can be withdrawn after the girl turns 18 or completes Class 10, but only for higher education. Documents like admission proof and fee structure are needed.

How to Withdraw

Fill Form-4 at the bank or post office, submit documents, and present the SSY passbook for processing.

Sukanya Samriddhi Yojana Closure Rules

The Sukanya Samriddhi Yojana account is usually closed on maturity. However, it may also be closed prematurely as long as certain conditions are fulfilled. Here’s a closer look at the account closure rules.

Account Closure On Maturity

The Sukanya Samriddhi Account matures once the girl child attains 21 years of age. At this point, the account holder can submit an application for closure and withdraw the entire balance in the account.

Premature Account Closure

The account can be prematurely closed only if any of the below-mentioned conditions are satisfied:

If the girl child is undergoing medical treatment for a life-threatening disease.
If the girl child dies at any point in time before the account matures.
If the residential status of the girl child changes from resident to non-resident.
If the girl child intends to get married after attaining 18 years of age, a premature account closure request can be made anytime during one month before the proposed marriage and 3 months post her marriage.
If the account issuing authority is of the view that the continuation of the account would cause hardship to the girl child.

Note: If the SSY account is prematurely closed for any reason other than the ones listed above, the deposit will earn interest at a rate applicable to a regular post office savings account.

Conclusion

The Sukanya Samriddhi Yojana is a good step towards ensuring the financial independence of girl children. Thanks to the host of benefits it offers, the scheme has already become one of the most popular savings schemes in the country.