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Highlights
- SSY offers high government-backed returns with tax benefits under Section 80C and tax-free maturity.
- Parents can invest between Rs 250 and Rs 1.5 lakh annually for 15 years.
- Partial withdrawal allowed after age 18 for education or marriage-related expenses.
The Sukanya Samriddhi Yojana (SSY) continues to be one of India’s most trusted savings schemes designed specifically for the future security of the girl child. Backed by the Government of India, this long-term savings plan helps parents build a financial corpus for their daughter’s education and marriage while enjoying attractive interest rates and tax benefits.
Launched under the 'Beti Bachao, Beti Padhao' initiative, the scheme aims to encourage families to invest systematically for their daughters from an early age. With government assurance and structured returns, SSY remains a popular choice among conservative investors looking for safety and long-term growth.
What is Sukanya Samriddhi Yojana?
Sukanya Samriddhi Yojana is a small savings scheme introduced in 2015 to support parents in creating a dedicated fund for their daughter’s future. An account can be opened in the name of a girl child below 10 years of age, and guardians can contribute as little as Rs 250 annually, making it accessible for families across income groups.
The scheme allows yearly investments of up to Rs 1.5 lakh and offers one of the highest interest rates among government-backed savings options. The account matures after 21 years, ensuring long-term financial protection.
Key Features and Benefits
One of the biggest reasons behind SSY’s popularity is its combination of security and strong returns. Deposits can be made for 15 years, while interest continues to accrue until maturity. This feature allows investments to grow even after contributions stop.
The scheme also enjoys triple tax benefits, investments qualify for deductions under Section 80C, while both the interest earned and maturity amount remain tax-free. Families can open accounts for up to two daughters, with exceptions made in cases of twins or triplets.
Another advantage is flexibility during crucial life stages. Partial withdrawals are permitted once the girl turns 18 to support higher education expenses, and the account can be closed if she gets married after reaching adulthood.
Eligibility ConditionsTo open an SSY account, the girl child must be an Indian resident and below the age of 10. Only one account per child is allowed, and it must be operated by a parent or legal guardian. Generally, families can open up to two accounts, one for each daughter.
Documents Required
Opening an SSY account requires basic documentation, including the girl child’s birth certificate, identity and address proof of the parent or guardian, and recent passport-sized photographs. In the case of twins or triplets, supporting medical documents may be needed.
How to Open an SSY Account
Parents can open an account at designated bank branches or post offices. The process involves filling out an application form, submitting the required documents, making the minimum initial deposit of Rs 250, and receiving a passbook that records all transactions.
Contribution Rules
The scheme allows annual deposits ranging from Rs 250 to Rs 1.5 lakh. Contributions must be made for the first 15 years, after which the account continues earning interest until maturity.
If the minimum deposit is missed, the account becomes inactive but can be revived by paying a small penalty along with pending contributions. Deposits above the permitted limit do not earn additional interest.
Withdrawal and Maturity RulesPartial withdrawals of up to 50% of the account balance are allowed for education after the girl turns 18 or completes Class 10. Withdrawals may be taken as a lump sum or in installments over several years, provided educational proof is submitted.
The account matures 21 years after opening, and the full accumulated amount is paid directly to the girl child. Early closure is allowed in specific situations such as marriage after age 18, serious medical conditions, or unforeseen circumstances.
If the account is not closed on maturity, it continues to earn interest, usually at the applicable post office savings rate.
Using the SSY Calculator
A Sukanya Samriddhi Yojana calculator helps parents estimate the maturity amount based on annual contributions and prevailing interest rates. Since returns are compounded annually, consistent investments can create a sizeable corpus over time. For example, investing Rs 1.5 lakh every year may build a fund exceeding Rs 60 lakh at maturity, depending on interest trends.
How to Check Account Status
Account holders can track their SSY balance through passbook updates at banks or post offices. Many banks also offer online access through net banking or mobile apps, making it easier to monitor contributions and accumulated interest.
The Sukanya Samriddhi Yojana is more than a savings instrument, it represents financial planning with a clear purpose. With low entry requirements, strong government backing, and tax-free returns, the scheme offers families a dependable way to secure their daughter’s education and future expenses.
For parents looking for a safe and disciplined long-term investment option in 2026 and beyond, SSY remains one of the strongest choices available under India’s small savings framework.
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