Last updated: October 2026
Sukanya Samriddhi Yojana (SSY) is a government savings scheme for the girl child, launched under the Beti Bachao Beti Padhao campaign. It offers one of the highest interest rates among small savings schemes, along with tax benefits.
Eligibility
- The account is opened in the name of a girl child below 10 years of age.
- It is opened by a parent or legal guardian.
- A family can open accounts for a maximum of two girls (an exception applies for twins or triplets).
Where to open
At any post office or authorised bank. You need the girl’s birth certificate, and the guardian’s ID and address proof (Aadhaar, PAN) and photographs.
Deposit rules
- Minimum: ₹250 per financial year.
- Maximum: ₹1.5 lakh per financial year.
- Deposits are made for 15 years from the date of opening.
- If the minimum is missed, the account can be revived with a small penalty.
Interest rate
The government sets the SSY interest rate every quarter. Interest is compounded yearly. Check the current rate on the India Post or National Savings Institute website.
Maturity and withdrawal
- The account matures 21 years after it is opened.
- Up to 50% of the balance can be withdrawn for the girl’s higher education once she turns 18 or passes Class 10.
- The account can be closed early for the girl’s marriage after she turns 18.
Tax benefits
SSY enjoys EEE status: deposits qualify under Section 80C (old tax regime), and interest and maturity amount are tax-free.
Example
If parents open an account when their daughter is 1 year old, they deposit for 15 years (until she is 16), and the account matures when she is 22. The money can fund her higher education or marriage.
Disclaimer: This article is for general information only and is not financial or tax advice. Interest rates and rules change; please confirm current details on the official website before acting.
