Sukanya Samriddhi Yojana

This article is written by our Guest expert blogger Ranjana Singh (A Financial Expert ) It includes all important and basic information about Sukanya Samriddhi Yojana (सुकन्या समृद्धि योजना )

Sukanya Samriddhi Yojana


To address the issue of declining Child Sex Ratio, Government of India launched a social campaign- BETI BACHAO, BETI PADHAO (BBBP), which means “Save Girls, Educate the Girl Child”, on January 22,2015.

As a part of the BBBP campaign, Prime Minister Narendra Modi launched a scheme called “Sukanya Samriddhi Yojana (SSY)” that means “Girl Child Prosperity Scheme”.

SSY aims at tackling a major problem associated with the girl child ie education and marriage. The purpose of this scheme is also to secure bright future of the girl child in India by facilitating the parents in building a fund for proper education and marriage expenses for the girl child.

Eligibility :

A legal/natural guardian can open account in the name of a girl child. A guardian can open only one account in the name of one girl child and maximum two accounts in the name of two different girl children.

Account can be opened by a guardian in the name of a beneficiary who has attained the age of 10 years as on the date of opening of the account.

The account shall be opened and operated by the natural/legal guardian of a girl child until the girl child in whose name the account has been opened, attain the age of 10 years.

Documents needed :

The guardian shall submit birth certificate of the girl child in whose name the account is opened at the time of account opening along with other documents related to identity and residence proof of the depositor.

Minimum deposit:

 Rs 250/- per annum

Maximum deposit :

Rs 1,50,000/- per annum

Tenure :

15 years

Maturity :

21 years

Interest Rate :

8.4% (w.e.f. 1st April 2020)

Where to open Sukanya Samriddhi Account (SSA) :

Any Nationalised Bank or Post Office. Customers can transfer their SSA within the bank from one branch to another or from other bank branch/post office.

Income Tax Benefit :

Yearly contribution of  Rs 1,50,000/- can be shown as tax deduction under Section 80C. The interest amount and maturity amount are also exempted from Income tax.

Partial Withdrawal :

Partial withdrawal, maximum upto 50% of the balance outstanding at the end of the preceding financial year can be taken after account holder’s attaining age of 18 years or has passed 10th standard, whichever is earlier.

Withdrawal for Educational Purpose :

The application for withdrawal for education purpose shall be accompanied by a documentary proof in the form of a confirmed offer of admission of the account holder in the educational institution or a fee slip from such institution clarifying such financial requirement.

Premature Closure of the account :

Allowed in case of extreme compassionate grounds such as medical support in life threatening diseases of the account holder or death of the guardian.

Withdrawal on maturity of the account :

The account shall mature on completion of 21 years from the date of opening of the account. Provided that the final closure may be permitted before completion of such period of 21 years, if the account holder, on an application makes a request for such premature closure for reasons of intended marriage of the account holder on furnishing of a declaration.

Condition for NRI Customers :

A Non Resident Indian (NRI) is not eligible to invest in SSY.


Ranjana Singh

(A Financial Expert)


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