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All you Need to Know about Sukanya Samriddhi Yojana

Dr. Sangeeta Soi
Dr. Sangeeta Soi

The Sukanya Sammridhi Yojna (SSY)  is a small savings scheme backed by the Government of India exclusively for the girl child. It is part of the “Beti Bachao – Beti Padhao” initiative of the Government of India, also known as BBB. As per this scheme, a parent or legal guardian can open an account in the name of a girl child until she attains the age of ten years. The scheme is aimed at encouraging the parents or guardians to build a fund for the future education and marriage expenses of their female child.  

Under Section 80C an SSY account also offers income tax benefits by way of deductions. It is commendable that the government is taking steps to change the mindset of people towards the girl child. The SSY account can be opened in post offices and some specifically designated banks.

Who can be an SSY account holder? 

An SSY account can be opened by the natural or legal guardian in the name of a girl child from the birth of the girl child till she attains the age of 10 years. The account can be opened by a depositor only in the name of the girl child. A natural or legal guardian of a girl child is allowed to open two accounts for up to two girls. One can open a third account in the name of a girl child in a scenario of birth of twin girls, as a second birth, or if the first birth itself results into three girl children. 

Features of an SSY account 

  • The interest rate offered on an SSY account is 8.1 per cent on a yearly basis. 

  • Minimum deposit in an SSY account is Rs 1,000 

  • The maximum amount that can be deposited in a year is Rs. 1.5 lakh per SSY account. 

  • There is no limit to the number of deposits either in a month or in a financial year. 

  • An annual deposit of up to Rs. 1.5 lakh qualifies for tax benefits under Section 80C. 

  • One can continue to deposit in the SSY account till the completion of 14 years starting from the date of opening of the account 

  • The account matures after the completion of the tenure which is 21 years. The balance in the SSY, including the interest, is paid to the girl child on submitting an application and proof of identity, residence and citizenship documents 

How to open a Sukanya Samriddhi Yojana account

An SSY account can be opened by the citizens by submitting the following documents; 

(i) Birth certificate of the girl child 

(ii) Photo ID of parents or legal guardian 

(iii)Address proof of parents or legal guardian 

(iv) Photograph of the child and parent 

Step by Step Process 

(i) Fill up the form 

(ii) Submit the documents along with photos 

(iii) Deposit cash (Minimum of Rs 1,000) 

(iv) After opening the account, one can make deposits by cash, cheque or demand draft. 


Maximum number of accounts 

Up to two girl children or three in case of twin girls 

The minimum and the maximum amount of deposit 

Min amount is Rs 1,000 for initial deposit with an annual ceiling of Rs 1,50,000 in a financial year 

Tenure of the deposit 

21 years from the date of opening of the account 

Interest Rate 


Tax rebate 

Under 80C of the IT Act, 1961 

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