Sukanya Samriddhi Yojana (SSY) is a government small-savings scheme for the girl child, launched under the Beti Bachao Beti Padhao campaign. Parents or legal guardians can open an SSY account for a girl below 10 years of age and build a tax-free corpus for her education and marriage.
Key Features
| Feature | Details |
|---|---|
| Minimum deposit | ₹250 per financial year |
| Maximum deposit | ₹1,50,000 per financial year |
| Deposit period | 15 years from account opening |
| Maturity | 21 years from opening, or on marriage after age 18 |
| Interest | Notified quarterly by the government; among the highest of all small-savings schemes (recently in the region of 8% — check the current quarter’s rate) |
| Tax benefit | EEE status — deposit (80C), interest and maturity all tax-exempt |
Who Can Open an Account?
- A parent or legal guardian, in the name of a girl child below 10 years.
- One account per girl; a family can open accounts for up to two daughters (exceptions exist for twins/triplets).
- Accounts can be opened at any post office or authorised bank branch.
Documents Required
- Birth certificate of the girl child
- Identity and address proof of the parent/guardian (Aadhaar, PAN)
- Passport-size photographs
Partial Withdrawal and Premature Closure
- After the girl turns 18 (or passes class 10), up to 50% of the balance can be withdrawn for her higher education.
- The account can be closed on her marriage after she turns 18.
- Premature closure is allowed in special situations such as the account holder’s death or serious illness, as per rules.
How to Open an SSY Account
- Visit your nearest post office or an authorised bank branch with the documents above.
- Fill the SSY account opening form and make the first deposit (minimum ₹250).
- Deposits can then be made by cash, cheque or online transfer; many banks allow standing instructions from savings accounts.
Frequently Asked Questions
What happens if I miss a year’s deposit? The account becomes irregular but can be regularised by paying the minimum deposit plus a small default fee for each missed year.
Can the account be transferred? Yes, freely between post offices and banks anywhere in India.
Note: The interest rate is reviewed every quarter by the Ministry of Finance. Check the current rate at your post office/bank or on the India Post website before investing.