Sukanya Samriddhi Yojana (SSY)

Under the ‘Beti Bachao, Beti Padhao’ campaign, the Central Government launched the ‘Sukanya Samriddhi Yojana (SSY)’ to encourage parents to build a fund for the future education and marriage expenses of their female child.

🎯 Eligibility Criteria

• The account can only be opened in the name of a girl child.
• The girl’s age must be under 10 years at the time of opening the account.
• The scheme is applicable for a maximum of two girls in a family (exceptions made for twins/triplets).

💰 Benefits & Subsidy

• Highest Interest Rate: This scheme offers a higher interest rate (revised quarterly by the government) compared to other small savings schemes like PPF or FD.
• Tax Benefit: Under Section 80C of the Income Tax Act, investments up to ₹1.5 lakh, the interest earned, and the maturity amount are 100% tax-exempt (EEE status).
• Investment: You can deposit a minimum of ₹250 to a maximum of ₹1.50 lakh annually.

📋 Procedure & Required Documents

1. Where to Open: You can open an account at your nearest Post Office or any authorized nationalized/private bank.
2. Required Documents: The girl’s Birth Certificate, parents’ Aadhaar Card, and PAN Card.
3. Duration: Deposits must be made for 15 years from the date of opening. The account matures when the girl turns 21 years old.

❓ Frequently Asked Questions (FAQs)

1. Can funds be withdrawn early for the girl’s education? Yes, once the girl reaches 18 years of age or completes her 10th standard, up to 50% of the balance can be withdrawn for higher education.

2. Is there a mandatory minimum deposit every year? Yes, to keep the account active, a minimum deposit of ₹250 is required in every financial year.

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