Lets talk about Sukanya Samriddhi Yojana



What is Sukanya Samriddhi Yojana?

The Sukanya Samriddhi Yojana is a government plan launched under the Beti Bachao Beti Padhao campaign to ensure a bright future for the girl child in India. The plan helps the parents of a girl to cover her education and marriage expenses without worry. The scheme provides flexibility in investment through which you can make regular deposits and earn interest. The scheme also comes with tax benefits of up to ₹ 1.5 lakh in a financial year under Section 80C of the Income Tax Act.


Sukanya Samriddhi Yojana Characteristics

• Sukanya Samriddhi account can be opened for any girl in India under 10 years old.

• Only one account can be opened for one girl.

• The account can be easily opened at any authorized post office or bank.

• This account can be opened with a minimum amount of ₹ 250.

• The maximum deposit limit for this account is ₹ 1.5 Lakhs in a financial year.

• The scheme has a period of permanence of 14 years.

• The expiration period of the account is 21 years from the date the account is opened.

• The current interest rate offered on this account is 7.60%

• Premature closings are not allowed unless the investment has completed 5 years.

Sukanya Samriddhi Yojana Tax Benefits

Sukanya Samriddhi Yojana helps you save taxes and build a corpus for your daughter's future at the same time.

• Investments towards Sukanya Samriddhi Yojana are eligible for tax deductions under Section 80C of the Income Tax Law.

• The scheme allows tax deductions of up to ₹ 1.5 lakhs in each financial year (all investment made will be tax deductible).

• The interests accrued by the investment made under this scheme are also exempt from taxes.

• Even at the expiration of the plan, one does not have to pay any tax on the withdrawal of the amount.

Blocking period:

Sukanya Samriddhi Yojana's period of confinement is 21 years.


The scheme can be opened with a minimum amount of ₹ 250 and the same is needed every year for 15 years, so keep your account active. However, the maximum amount allowed to invest in this scheme is ₹ 1.5 lakh each financial year.

The investment can be made under this scheme in multiples of 100 through cash, check, demand order or online transfer. Any amount of deposits can also be made in a year. But, if you do not achieve the minimum amount, ie ₹ 250 in one year, your account will be discontinued.

Interest payment

The current interest rate offered on this account is 7.60%. Interest is paid along with the principal only upon expiration or premature closure of the account.

Withdrawal options

Sukanaya Samriddhi Yojana gives you the option of making partial withdrawals after your daughter turns 18. The allowed withdrawal is up to 50% of the accumulated amount, which can be used to pay for higher education and the future of the girl for whom the account was opened.

You can open an SSY account at any nearest post office or you can visit any of the 28 authorized banks.

The Sukanya Samriddhi Yojana is government backed and the best part is that it is tax exempt making it one of the best suited for long term investments for your child's future.

The investment comes with a sovereign guarantee that makes it an attractive investment option for your little girl's needs. But the 21-year lockdown can be a significant inconvenience for those who want to access the funds before this date.

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