Updated on - 11 Feb 2026
Raising a daughter comes with dreams and responsibilities. Parents always desire to secure their child’s future and ensure she receives the financial help required for education, marriage or any other significant life event. To assist families with this, the Government of India launched the Sukanya Samriddhi Yojana (SSY). This plan aims to motivate parents to save in a disciplined manner for their daughter. Not only does it give a good return, but it also has attractive tax advantages. If you are seeking a secure and rewarding investment option for your daughter, the SSY can be one of the best choices.
What is Sukanya Samriddhi Yojana (SSY)?
To address the declining sex ratio and increasing cases of sexual discrimination, the Government of India launched a social campaign known as "Beti Bachao, Beti Padhao" on January 22, 2015. The literal meaning of this campaign translates to, "Save daughters, educate daughters". Sukanya Samriddhi Yojana (SSY) was one of the Government's pet schemes launched under this campaign. It aims to establish a robust financial foundation for the future needs of a girl child.
Parents or guardians can open an SSY account in their girl’s name anytime until she is 10 years old. The account can be opened in any post office or specified bank. An annual small deposit can accumulate and become a substantial sum in the future, thanks to a favourable interest rate and tax advantages.
Sukanya Samriddhi Yojana details
Before opening an account under the Sukanya Samriddhi Yojana, here are a few details that you should know:
- Minimum and maximum deposit amount: At the time of account opening, a minimum deposit of ₹250 is required. Once the account is opened, the beneficiary has to make a minimum deposit of ₹250 every financial year. Above that, he/she can deposit any amount in multiples of ₹50. The maximum amount that one can deposit in a Sukanya Samriddhi Account during a financial year is ₹1.5 lakh.
- Duration of account: Deposits under the Sukanya Samriddhi account must be made until the completion of 15 years from the account's opening date. The account matures after 21 years from the date of its opening. Post which, the amount (accumulated corpus + interest amount) will be paid to the girl on whose name the account is opened.
- Premature closure: Premature closure of a Sukanya Samriddhi account is permitted in the case of the death of the parent or guardian or if the girl child is diagnosed with a life-threatening disease and needs medical treatment.
Sukanya Samriddhi Yojana age limit and maturity period
The account should be opened when the girl is under 10 years of age. This makes savings begin early and run over a long period of time.
The maturity period of the scheme is 21 years from the date of account opening. However, withdrawals are allowed for higher education or marriage once the girl turns 18. The guardian can operate the account until the girl turns 18, after which she must take charge herself.
In the event of marriage after the age of 18, closing the account is allowed. In exceptional circumstances, such as a medical emergency or the untimely demise of the girl child, early closure is also allowed.
Tax benefits of Sukanya Samriddhi Yojana
The scheme comes under the Exempt-Exempt-Exempt (EEE) tax category. This implies:
- Investment deduction: Deposits are deductible under Section 80C of the Income Tax Act up to ₹1.5 lakhs annually.
- Tax-free interest: Interest on the deposit is tax-free.
- Tax-free maturity: Principal and interest paid at maturity are tax-free.
This three-part tax relief makes SSY one of the most rewarding savings schemes for long-term planning.
Sukanya Samriddhi Yojana benefits
Here’s why SSY is considered one of the best savings schemes:
- High interest rate: The interest rate for SSY is amended quarterly by the Ministry of Finance. For the period from July 2025 to September 2025, the rate stands at 8.2% per annum, compounding annually. This is higher than most fixed deposits.
- Government-backed: Your money is secure and guaranteed since the scheme is backed by the Government of India.
- Long-term support: The 21-year maturity ensures that funds will be available for significant life events, such as higher education or marriage.
- Flexible deposits: You can deposit as little as ₹250 annually, which is affordable for all income levels to join in.
- Partial withdrawal: Up to 50% is allowable after the girl reaches age 18, facilitating education costs.
Sukanya Samriddhi Yojana interest calculation
Interest on SSY deposits is computed on the lowest balance between the 5th and the end of the month. The interest is compounded yearly and credited at the end of every financial year.
As calculating manually may be tricky, most individuals opt to use the Sukanya Samriddhi Yojana Calculator. By inputting the deposit amount per year, the girl’s age and the year of beginning, you can simply calculate the maturity value.
Sukanya Samriddhi Yojana eligibility
The eligibility rules for the Sukanya Samriddhi Yojana are very simple. Parents or guardians just need to follow a few basic conditions to open the account:
- The account can be opened only for a girl child who is a resident of India.
- The account has to be opened before the girl reaches the age of 10.
- Parents or guardians can open the account.
- A family can open accounts in the name of a maximum of two girls. However, in the event of twins or triplets, exceptions are permissible.
- The girl child has to remain an Indian resident until the maturity of the account.
Documents required for Sukanya Samriddhi Yojana
For opening an SSY account, you require:
- Birth certificate of the girl child.
- Parent/guardian’s identity proof (Aadhaar, Voter ID, PAN, etc.)
- Address proof of parents/guardian (Aadhaar, passport, driving licence, etc.)
- Passport-size photos
- Medical certificate in case of twins/triplets.
Sukanya Samriddhi Yojana application form
To open an SSY account, follow these steps:
- Obtain the form:
Available at authorised banks and post offices, or can be downloaded from their official websites.
- Fill in details:
Provide accurate information about the girl child and the parent/guardian.
- Submit documents:
Include the child's birth certificate, proof of identity and proof of residence of the parent/guardian.
- Make initial deposit:
Deposit an amount between ₹250 and ₹1,50,000.
- Account activation:
Upon verification, the account will be activated and a passbook will be issued.
Sukanya Samriddhi Yojana vs PPF
While both SSY and Public Provident Fund (PPF) are popular savings schemes, they differ in certain aspects:
- Target beneficiaries:
SSY is exclusively for girl children, whereas PPF is open to all Indian citizens.
- Interest rates:
SSY generally offers a higher interest rate compared to PPF.
- Deposit limits:
Both have similar deposit limits, but SSY requires a minimum annual deposit of ₹250, whereas PPF requires a minimum annual deposit of ₹500.
- Maturity period:
SSY has a fixed maturity period of 21 years, while PPF matures in 15 years with an option to extend.
How to transfer a SSY account from the post office to a bank?
If you wish to shift your SSY account from the post office to a bank, do the following:
- Visit the post office branch where the account is maintained and request a transfer form.
- Submit the completed form and KYC documents.
- The post office will carry out the process and provide you with the transfer documents.
- Go to the bank branch where you wish to transfer the account.
- Submit the documents and undergo the verification procedure.
- The bank will open the account and provide a new passbook.
This transfer facility is free if you are relocating due to a change of residence. Otherwise, a minimal fee of ₹100 applies.
Conclusion
Sukanya Samriddhi Yojana is among the most thoughtful schemes introduced by the government. It allows families to save for the future of their daughter with assured returns, a high rate of interest and complete tax exemption. With an early start, parents can create a huge corpus for their daughter’s education or wedding.
Simultaneously, while you are securing your daughter’s financial requirements for education and marriage, buy a health insurance policy to protect against unforeseen medical costs. Avail expert guidance on selecting the best policy by completing the form given on this page.
FAQs
1. Is it possible for me to open more than two SSY accounts if I have three daughters?
No, you can only keep two accounts per family. If you have twins or triplets in one delivery, you can keep more.
2. What will happen if I don't deposit the minimum amount within a year?
Your account will be "in default," but you can revive it within 15 years by paying the defaulted deposits and a nominal penalty of ₹50 per year.
3. Is investment in the Sukanya Samriddhi Yojana possible for NRIs?
No, the scheme is available only to resident Indian girl children. If the girl turns into an NRI subsequently, the account has to be closed.
4. Is premature closure permitted for higher studies?
No, premature closure is permitted only for marriage, death or medical emergencies. For educational purposes, a 50% withdrawal is allowed after 18 years.
5. What is the position after the 21-year maturity?
After 21 years, interest on the deposit is not earned. The girl needs to claim the maturity amount by producing proof of identity and other documents.
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