Sukanya Samriddhi Yojana: All You Need To Know!

Girl child scheme Sukanya Samriddhi Yojana is completely risk-free and government-backed. This scheme helps parents of a girl child secure her future.


Sukanya Samriddhi Yojana account can be opened by the guardian in the name of a girl child below the age of 10 years on the day of opening the account.

Once the girl turns 18, she will become the account holder. This account can be opened for a maximum of two girls in a family.

The SSY account can be opened at any bank or post office and can be transferred easily to other bank branches or post offices.

The investment period in this scheme is 15 years and the maturity period is 21 years.

Deposit Rules

Account under the Sukanya Samriddhi Yojana can be opened with a minimum initial deposit of Rs 250.

The depositor can thereafter deposit a minimum of Rs 250 and a maximum of Rs 1.5 lakh in each financial year, in multiples of Rs 50.

The deposit can be made as a lump sum amount or on a monthly basis. However, if the minimum amount is not maintained, there will be a fine of Rs 50, and the account will be considered as defaulted.

The defaulted account can be revived before the completion of 15 years from the date of opening of the account by paying a minimum of Rs 250 + Rs 50 default for each defaulted year.

Tax Benefits and Interest

The Sukanya Smariddhi Yojana subscriber will earn an interest rate of 7.6 percent for deposits during the October-December 2022 quarter.

The interest earned is credited to the account at the end of every financial year and is eligible for exemption under Section 80C of the Income Tax Act, of 1961.

If you open an account with Rs 250, plus an amount of Rs 750 for the first month, and continue to deposit Rs 1,000 per month, then your total yearly deposit will be Rs 12,000.

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