Sukanya Samriddhi Yojana is a good option in terms of savings for girls’ education and their marriage. The Central Government has launched Sukanya Samriddhi Yojana (SSY) under the Beti Bachao Beti Padhao Scheme as a small savings scheme for the girl child. The special feature of this scheme is that it gets interest at 8.1%. So today we will discuss about everything about the Sukanya Samriddhi Yojana (SSY) in this article below.


Those who want to stay away from the risk of the stock market and get annoyed at the falling interest rate in fixed deposits, Sukanya Samriddhi Yojana (SSY) can prove to be the best step for them.

What is Sukanya Samriddhi Yojana

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What is Sukanya Samriddhi Yojana (SSY)?

The Sukanya Samriddhi Yojana (SSY) is a minor savings scheme of the Central Government for the girl child, which has been launched under the Beti Bachao- Beti Padhao Scheme. In the year 2016-17, Sukanya Samriddhi Yojana (SSY) was being given an interest rate of 8.1%, which is with income tax exemption.

The Sukanya Samriddhi Yojana (SSY) account that opens with a lot of money has been started keeping in mind those families who want to deposit money for child marriage or higher education through small savings.

Procedure to open account For Sukanya Samriddhi Yojana (SSY)

Under the Sukanya Samriddhi Yojana (SSY), the account can be opened with the deposit of at least INR 250/- at the age of 10 years after the birth of the girl child. Up to 1.5 lakh rupees can be deposited under Sukanya Samriddhi Yojana (SSY) in the current financial year.

Where to Open Account For Sukanya Samriddhi Yojana (SSY)?

Under the Sukanya Samriddhi Yojana (SSY), an account can be opened in the branch of a post office or government bank.

Maturity Period Of The Sukanya Samriddhi Yojana

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Maturity Period Of The Sukanya Samriddhi Yojana (SSY)

  • After opening this account, this a/c can be run until she is 21 years of age
  • Or after her marriage to 18 years of age
  • Money must be deposited for 14 (fourteen) years
  • Parents or guardians can operate this account till the girl’s age is 10 years, after which the daughter herself can operate the account.

Only 21 years from the date of opening of the daughter’s account, the account will be maturing. If the marriage of girl child is done after 18 years or 21 years, then the account will be closed after the date of marriage. Deposit may be withdrawn after the account is closed. If the girl dies for some reason then the account will be closed by the guardian and the entire deposit will be withdrawn with interest.

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What Is The Use Of Sukanya Samriddhi Yojana (SSY)?

After the age of 18 after the Sukanya Samriddhi Yojana (SSY) account, 50% of the amount can be withdrawn for the child’s higher education expenditure.

Tax Benefits

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Tax Benefits:

The account of Sukanya Samriddhi Yojana (SSY) can be transferred to any part of the country. Accounts opened under the Sukanya Samriddhi Yojana are exempt from tax. The accounts opened under this scheme will be exempted under Section 80-G of Income Tax Act.

Required Documents

  • Sukanya prosperity account opening form
  • Child’s birth certificate
  • Parental Identity Card (Aadhar Card / PAN Card / Ration Card / Passport / Driving License)
  • Parent / Guardian Address Proof

Sukanya Samriddhi Yojana (SSY) Account Opening Rules:

Sukanya Samriddhi Yojana (SSY) account can be initiated by the child’s parent or legal guardian by the name of girl child before 10 years of age. According to this rule, a single account can be opened for a girl and money can be deposited in it. Two accounts cannot be opened for a child.

The form of opening the account of Sukanya Samriddhi Yojana will be found in the post office and branch of the bank. In this form, you will have to fill in the name of the child’s name, the name of the parents and date of birth. Apart from this, you have to give complete information about the birth certificate (BC) of the child. It will have to write the certificate number, the date of issue and who has issued it. Apart from this, you will also have to provide an existing address and a permanent address.

List of official banks for Sukanya Samriddhi Yojan

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List of official banks for Sukanya Samriddhi Yojana (SSY):

There are total 28 private and public banks where the Sukanya Samriddhi Yojana Bank Account available:

  • Andhra Bank
  • Allahabad Bank
  • Axis Bank Limited
  • Bank of India
  • Bank of Baroda
  • Bank of Maharashtra
  • Central Bank of India
  • Corporation Bank
  • Canara Bank
  • Dena Bank Limited
  • Indian Overseas Bank
  • ICICI Bank Limited
  • Indian Bank
  • IDBI Bank Limited
  • Oriental Bank of Commerce
  • Punjab National Bank
  • Punjab & Sind Bank
  • State Bank of India
  • State Bank of Bikaner and Jaipur
  • State Bank of Hyderabad
  • State Bank of Patiala
  • Syndicate Bank
  • State Bank of Mysore
  • State Bank of Travancore
  • United Bank of India
  • Union Bank of India
  • UCO Bank
  • Vijaya Bank
  • Indian Post offices