Thе Sukanya Samriddhi Yojana (SSY) is a govеrnmеnt-backеd savings schеmе in India. This schеmе was launched by thе Govеrnmеnt of India undеr thе Bеti Bachao, Bеti Padhao initiativе. An SSY account can be easily opened at the nearest Post Office or authorised banks. Sukanya Samriddhi Yojana (SSY) can be opened with a minimum investment of Rs. 250 and a maximum of Rs. 1.5 Lakh per financial year.
There are many people in our country who are unhappy when a daughter is born. The main reason for this is that they feel that daughters are a burden on them. Nowadays, many people are unable to marry off their daughters due to poverty. However, the government is running several schemes that provide financial assistance. Due to which daughters will not be a burden for anyone and they will be able to study easily and also get married.
In this series, an important scheme is Sukanya Samriddhi Scheme, which has been started especially for the marriage or education of daughters. By depositing a small amount into this scheme, you can earn a substantial sum later. In this article, we explain in detail what the Sukanya Samriddhi Yojana is and how to apply for it.
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Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana was started especially for girls. Through this scheme, parents of girls under the age of 10 across the country can invest to secure their future, earning good returns. Girls’ education and marriage often cost a lot of money. Which many people do not have but they can earn money by investing in this scheme.
Prime Minister Narendra Modi has started protecting the girls of middle class families of the country from future financial problems. Under this scheme, parents open an investment account before their daughter turns 10. Parents can invest a minimum of ₹250 and a maximum of ₹1.5 lakh per month. Tax exemption is also available on this money under Section 80C of the Income Tax Act 1961.
This scheme (Sukanya Samriddhi Yojana) will protect daughters from future financial problems. Inflation has risen significantly at present and will rise even more in the future. In such a situation, more money will be needed for your children’s marriage and education. However, through this plan, you can accumulate a substantial amount of money over a few years by depositing a fixed amount each month. This will enable them to marry off their daughters with pomp and show and also provide financial support for their education. This way, parents will no longer find their daughters a burden.
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Eligibility for Sukanya Samriddhi Yojana
To benefit from this scheme, you must meet the eligibility criteria, which are explained below. If you meet these criteria, you can benefit from this scheme.
- Only daughters born in India will be eligible for the benefit.
- An account can be opened in the name of the daughter by her parents or her legal guardian.
- The parents or legal guardians of the daughters must also be permanent residents of India.
- Under the scheme, an investment account can be opened in the name of only two girls in a family.
- If twin girls are born after the birth of a single girl child in a family, then in such a situation separate investment accounts will be opened for the twin girls.
Documents required for Sukanya Samriddhi Yojana
To apply for any government scheme, it is essential to have the necessary documents. The following documents are required to apply for the Sukanya Samriddhi Yojana.
- Birth certificate of the girl child
- Identity and address proof of the guardian
- Medical certificate for proof of birth of multiple girl children on a single order of birth
- Other KYC documents, such as Aadhaar card, Voters ID, etc.
- Any other documents as required by the post office or banks
Sukanya Samriddhi Yojana Interest Rate
SSY provides financial stability and helps bridge the gender gap by encouraging long-term savings for girls. Investment in Sukanya Samriddhi Yojana is mandatory for 15 years. Interest is provided at the rate of 8.2% on the invested amount. However, the interest rate is fixed by the government every 3 months and keeps increasing and decreasing.
| SSY Interest Rate | 8.2% p.a. |
| Investment Amount | Minimum – Rs.250; Maximum Rs.1.5 lakh p.a. |
| Maturity Amount | It depends on the amount invested |
| Maturity Period | 21 years |
In which banks of the country can the beneficiary open an SSY account?
There are 28 banks authorized by the Reserve Bank of India in our country. Beneficiaries can open an SSY account by visiting the nearest branch of any of these banks. These 28 banks are as follows.
- Bank of India
- state Bank of India
- Punjab National Bank
- Bank of Baroda
- axis Bank
- Andhra Bank
- Bank of Maharashtra
- Allahabad Bank
- Punjab And Sind Bank
- Oriental Bank of Commerce
- State Bank Of Hyderabad
- Union Bank of India
- UCO Bank
- United Bank of India
- Vijay Bank
- Bank of Maharashtra
- Canara Bank
- Dena Bank
- State Bank of Patiala
- State Bank Of Mysore
- IDBI Bank
- ICICI Bank
- State Bank Of Bikaner And Jaipur
- State Bank Of Travancore
Benefits of Sukanya Samriddhi Yojana
Like this scheme, all girls over the age of 10 can benefit from this scheme. Individuals invest in this scheme and earn interest at the rate of 7.6%. Furthermore, this interest is tax-free. You can invest a minimum of ₹250 per month or a maximum of ₹150,000 per year. Investing in this scheme offers higher returns than other investment plans. If you are also thinking of saving money for your daughter, this is the best scheme. Only two girls in a family can benefit from this scheme (Sukanya Samriddhi Yojana).
How to apply for Sukanya Samriddhi Yojana?
To apply for this scheme, you have to follow the step by step instructions given below.
- To open an account in this scheme, you will have to go to the post office or nearest bank from where you will get the application form of Sukanya Samriddhi Yojana.
- Fill in the application form carefully. Ensure that the information you provide is accurate.
- After entering all the information, you must attach photocopies of the required documents to this application form.
- Now, you must submit the application form to the same post office or bank where you obtained it.
Thus, by following the above procedure, you can apply to open an account in Sukanya Samriddhi Yojana in the name of your daughter.
Sukanya Samriddhi Yojana Interest Rates
| Year | Apr-Jun (Q1) | Jul-Sep (Q2) | Oct-Dec (Q3) | Jan-Mar (Q4) |
| 2025-2026 | 8.2% | 8.2% | To be announced | To be announced |
| 2024-2025 | 8.2% | 8.2% | 8.2% | 8.2% |
| 2023-2024 | 8.0% | 8.0% | 8.0% | 8.2% |
| 2022-2023 | 7.6% | 7.6% | 7.6% | 7.6% |
| 2021-2022 | 7.6% | 7.6% | 7.6% | 7.6% |
| 2020-2021 | 7.6% | 7.6% | 7.6% | 7.6% |
| 2019-2020 | 8.5% | 8.4% | 8.4% | 8.4% |
| 2018-2019 | 8.1% | 8.1% | 8.5% | 8.5% |
| 2017-2018 | 8.4% | 8.3% | 8.3% | 8.1% |
Calculate Amount for Sukanya Samriddhi Yojana
If parents deposit Rs. 100000/- per year in the name of their daughter, then you can see below how much total amount they will get on maturity (on completion of the term) in 21 years. For example, suppose a girl child was born in 2015, then her parents started depositing Rs 1,00,000 per year under this scheme from the year 2015. The total premium deposited would be Rs 1500000/-. After this, in the year 2035, the girl will receive an amount of approximately Rs 4395380/-.
| Financial year | Deposit amount per annum (₹) | Interest earned (₹) | Total amount at the end of the year |
| 2015 | 100000 | 7600 | ₹107600 |
| 2016 | 100000 | 15777.6 | ₹223377.6 |
| 2017 | 100000 | 24576.70 | ₹347954.30 |
| 2018 | 100000 | 34044.53 | ₹481998.82 |
| 2019 | 100000 | 44231.91 | ₹626230.73 |
| 2020 | 100000 | 55193.54 | ₹781424.27 |
| 2021 | 100000 | 66988.24 | ₹948412.52 |
| 2022 | 100000 | 79679.35 | ₹1128091.87 |
| 2023 | 100000 | 93334.98 | ₹1321426.85 |
| 2024 | 100000 | 108028.44 | ₹1529455.29 |
| 2025 | 100000 | 123838.60 | ₹1753293.89 |
| 2026 | 100000 | 140850.34 | ₹1994144.23 |
| 2027 | 100000 | 159154.96 | ₹2253299.19 |
| 2028 | 100000 | 178850.74 | ₹2532149.93 |
| 2029 | 100000 | 200043.39 | ₹2832193.32 |
| 2030 | 0 | 215246.69 | ₹3047440.01 |
| 2031 | 0 | 231605.44 | ₹3279045.45 |
| 2032 | 0 | 249207.45 | ₹3528252.91 |
| 2033 | 0 | 268147.22 | ₹3796400.13 |
| 2034 | 0 | 288526.41 | ₹4084926.54 |
| 2035 | 0 | 310454.42 | ₹4395380.96 |
Under this scheme, you can deposit a maximum of ₹1.5 lakh per year. Furthermore, if the girl child is over 10 years old, she cannot avail of the benefits of this scheme.
Download Important Forms For Sukanya Samriddhi Yojana
| Form No | Form Type |
| Form 1 | Application for account opening |
| Form 2 | Pay-in-slip |
| Form 3 | Application for Loan/Withdrawal |
| Form 4 | Pass Book |
| Form 5 | Application for transfer of account |
| Form 6 | Application for extension of account |
| Form 7 | Application for pledging of account |
| Form 8 | Application for premature closure of account |
| Form 9 | Application for closure of account |
| Form 10 | Application for cancellation or variation of nomination in an account |
| Form 11 | Application for settlement of an account of the deceased depositor |
| Form 12 | Letter of authority to open or operate an account on behalf of depositor |
| Form 13 | Affidavit |
| Form 14 | Letter of disclaimer |
| Form 15 | Letter of indemnity |
Sukanya Samriddhi Yojana Online Payment
The Sukanya Samriddhi Yojana requires a deposit on a specified date. You must download the IPPB app on your smartphone to make online payments toward your SSY account. Here is the step-by-step procedure:
Step 1: Transfer money from your bank account to the IPPB account.
Step 2: On the IPPB app, go to DOP Products / Services tab and choose the Sukanya Samriddhi Yojana account.
Step 3: Enter your SSY account number and the customer ID.
Step 4: Choose the amount you would like to pay and the installment duration.
Step 5: IPPB will notify you of the success of setting up the payment routine.
The balance in the SSY can be transferred anywhere in India. The scheme’s widespread adoption reflects its success in promoting both financial planning and gender equality.
Sukanya Samriddhi Yojana (SSY) small savings scheme launched by the Government of India under Beti Bachao, Beti Padhao campaign. It encourages parents or legal guardians to save and invest for their daughter’s education and marriage expenses. After completion of 21 years of the account, the entire money along with interest is returned to the girl.
The Sukanya Samriddhi Yojana will promote women’s empowerment in society and provide financial assistance to girls for higher education. Investing in SSY provides depositors with a tax exemption of up to ₹1.5 lakh under Section 80C of the Income Tax Act, 1961.
Frequently Asked Questions
How to apply for Sukanya Samriddhi Yojana online?
There is no way you can apply for or open a Sukanya Samriddhi Yojana account online. Visit near post office for apply this scheme.
Is sukanya samriddhi yojana good?
Yes, Sukanya Samriddhi Yojana is good as it is backed by the government for promoting the welfare of the girl child.
Is sukanya samriddhi yojana tax free?
Yes, the interest earned on the deposits in the SSY account is exempt from tax.