The SSY is a savings scheme introduced by the Government of India under the initiative of Beti Bachao, Beti Padhao. It is designed to secure the future of a girl child so her parents and guardians can easily fund her education and cover her marriage expenses.
Under the terms of Sukanya Samriddhi Yojana, an account is opened where a minimum of ₹250 and a maximum of ₹1.5 lakh in annual investment can be made, for which a decent interest rate is provided. It can be easily opened at the nearby post office or at the authorised banks.
Here, we have discussed everything you need to know about the SSY. Read this article thoroughly to check if you are eligible for it, how to open an account under this scheme, what the benefits are, what documents are required to have an account, and much more.
Overview
The SSY is a savings scheme from the GOI, whose main aim is to secure the future of girl children. Under this scheme, an account is opened, in which the parent or guardian has to make an investment every year, for which there is a good return as interest is provided. Refer to the table below for an overview of it.
| Scheme Name | Sukanya Samriddhi Yojana (SSY) |
| Launched By | Government of India |
| Initiative | Beti Bachao, Beti Padhao |
| Beneficiary | Girl Child |
| Eligibility Age | Below 10 years |
| Citizenship | Indian |
| Account Holder | Girl Child (by Parent/Guardian) |
| Minimum Investment | ₹250 per year |
| Maximum Investment | ₹1.5 lakh per year |
| Investment Period | 15 years |
| Account Maturity | 21 years from opening |
| Interest Rate | 8.2% (FY 2025–26) |
| Tax Benefit | EEE (80C, Interest & Maturity Tax-Free) |
| Partial Withdrawal | Up to 50% after age 18 |
| Account Opening Place | Post Office or Authorized Banks |
Eligibility Criteria
To open an account under the Sukanya Samriddhi Yojana, it is mandatory that you meet eligibility requirements.
- You are a citizen of India and reside in any state or union territory of the country, and
- You have a daughter under the age of 10 years.
Note that for each family, up to two accounts can be opened under SSY. Exemption is applicable for the parents or guardians with twins or triplets.
Required Documents
In order to open an account under the Sukanya Samriddhi Yojana, it is mandatory that you have the required documents.
- Birth Certificate of the girl child; it must be issued by the Municipal Corporation or Hospital.
- The parent must have proof of identity, which can be his or her Aadhaar card, PAN card, passport or voter ID card.
- It is also mandatory to have proof of address of the parent; it can be an Aadhaar Card, Passport, Ration Card, or Utility Bill.
Additionally, the passport-size photograph of the girl child is required. In case of having a twin or triplets, you have to provide the medical certificate.
Its Benefits
The SSY is beneficial in different aspects: it provides high interest and a triple tax benefit; it is totally safe because it is funded by the GOI; it provides both education and marriage support; it helps in long-term wealth creation; and it provides flexible investment options. Learn about them:
- It provides high interest rates among the government saving schemes, whose rate is received quarterly but compounded annually.
- An annual investment of ₹1.5 lakh is eligible for tax deduction under Section 80C; even the earned interest and maturity amount are totally tax-free.
- Practical withdrawal is applicable; up to 50% can be withdrawn for higher education once the girl child has turned 18 years, and full withdrawal is applicable only in case of the girl’s marriage after 18 years.
The best thing about the SSY is that it provides flexible investment options; you can invest between ₹250 and ₹1.5 lakh monthly, quarterly or yearly.
How to Open?
Opening an account under the Sukanya Samriddhi Yojana, please go through the step-by-step instructions.
- Visit the nearest post office or any authorised bank, which can be SBI, PNB, BOI, or other.
- Ask for the SSY account opening form, which is Form SSA-1, and fill in all the details accurately.
- Attach all the required documents, and make a deposit of at least ₹250 or up to ₹1.5 lakh.
Note that the account will open in the girl child’s name. Once the verification is complete, you will get a passbook.
Interest Rate
The interest rate for the Sukanya Samriddhi Yojana accounts is made public by the Government of India quarterly. For the financial year 2025-26, the rates are as follows:
- April-June: 8.2%
- July-September: 8.2%
- October-December: 8.2%
For January-March, the rates will be announced soon. The announcement is expected to be made public most probably in late December.