SBI Sukanya Samriddhi Yojana

The SBI Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme designed exclusively for the girl child, offered through the State Bank of India (SBI). Launched as part of the 'Beti Bachao, Beti Padhao' initiative, it encourages parents or guardians to build a secure financial future for their daughters. With attractive interest rates, tax benefits under Section 80C, and guaranteed returns, SSY is one of the most reliable long-term investment options for a girl’s education and marriage expenses.

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You get tax benefits under Section 80(C) and no tax on returns under Section 10 (10D)

Investment Flexibility

It offers the flexibility to invest at regular intervals or as a one-time contribution

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Sukanya Samriddhi Yojana Calculator

Latest SSY Interest Rate = 8.2%

Yearly Investment

You can invest maximum upto ₹1,50,000

₹

Girl's Age

Maximum age should be 10 years

Yrs

Start Year

Investment term is 21 years

Total Investment

Total Interest

Total Investment

Total Interest

Maturity Year

Maturity Value

Amount you will get

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Features of SBI Sukanya Samriddhi Yojana

The key features of Sukanya Samriddhi Yojana SBI are as follows:

Eligibility
- Only for girl children who are residents of India.
- NRIs are not eligible. If the girl becomes an NRI after opening the account, the bank must be informed within 1 month, and the account will be closed.
Age Criteria
- Accounts can be opened from the birth of the girl child up to 10 years of age.
Who Can Open
- Biological parents or legal guardians can open the account.
- Minimum deposit to open: ₹250.
- Maximum two accounts per family; three allowed if twins/triplets are born.
Where to Open
- Available at all SBI branches, post offices, and other authorized banks.
Tenure
- Account matures after 21 years or when the girl marries after turning 18.
- No interest is paid after 21 years.
Deposits
- Minimum deposit: ₹250 per year.
- Maximum deposit: ₹1.5 lakh per year.
- Deposits can be made via cash or cheque.
Partial Withdrawal
- Up to 50% of the balance can be withdrawn when the girl turns 18, for education or marriage.
Account Continuity
- Deposit at least ₹250 every year for 15 years to keep the account active.
- If not, the account is deactivated but can be revived by paying a ₹50 penalty plus the missed deposit.

Other Highlights

The account offers attractive interest rates (currently 8.2% per annum).
Tax benefits available under Section 80C.
Flexible deposit options make it accessible for all families

SBI Sukanya Samriddhi Yojana Interest Rates Historical Data

Policy Period	SSY Interest Rate (% annually)
April to June 2025 (Q1 2025-26)	8.2
Jan to Mar 2025 (Q4 FY 2024-25)	8.2
Oct to Dec 2024 (Q3 FY 2024-25)	8.2
Jul to Sep 2024 (Q2 FY 2024-25)	8.2
Apr to Jun 2024 (Q1 FY 2024-25)	8.2
Jan to Mar 2024 (Q4 FY 2023-24)	8.2
October to December 2023 (Q3 FY 2023-24)	8
Jul to Sep 2023 (Q2 FY 2023-24)	8
Apr to Jun 2023 (Q1 FY 2023-24)	8
Jan to Mar 2023 (Q4 FY 2022-23)	7.6
October to December 2022 (Q3 FY 2022-23)	7.6
Jul to Sep 2022 (Q2 FY 2022-23)	7.6
Apr to Jun 2022 (Q1 FY 2022-23)	7.6
Jan to Mar 2022 (Q4 FY 2021-22)	7.6
Oct to Dec 2021 (Q3 FY 2021-22)	7.6
Jul to Sep 2021 (Q2 FY 2021-22)	7.6
Apr to Jun 2021 (Q1 FY 2021-22)	7.6
Jan to March 2021 (Q4 FY 2020-21)	7.6
Oct to Dec 2020 (Q3 FY 2020-21)	7.6
Jul to Sep 2020 (Q2 FY 2020-21)	7.6
Apr to Jun 2020 (Q1 FY 2020-21)	7.6
Jan to March (Q4 FY 2019-20)	8.4
Oct to Dec 2019 (Q3 FY 2019-20)	8.4
Jul to Sep 2019 (Q2 FY 2019-20)	8.4
Apr to Jun 2019 (Q1 FY 2019-20)	8.5
Jan to March 2019 (Q4 FY 2018-19)	8.5
Oct to Dec 2018 (Q3 FY 2018-19)	8.5
Jul to Sep 2018 (Q2 FY 2018-19)	8.1
Apr to Jun 2018 (Q1 FY 2018-19)	8.1
Jan to March 2018 (Q4 FY 2017-18)	8.1
Oct to Dec 2017 (Q3 FY 2017-18)	8.3
Jul to Sep 2017 (Q2 FY 2017-18)	8.3
Apr to Jun 2017 (Q1 FY 2017-18)	8.4

What are the Benefits of the SBI Sukanya Samriddhi Yojana Account?

Below are the benefits of the SBI Sukanya Samriddhi Yojana Account:

High-Interest Rate:

One of the most significant benefits of the SBI Sukanya Samriddhi Yojana Account is that it offers a high interest rate of 8.2% per annum, the rate has hiked from the previous quarter. This SSY interest rate is subject to change every quarter, but it is still much higher than most other savings schemes.
Relocate the account:

If the account holder wants to relocate, Sukanya Samriddhi Yojana SBI offers you an option to transfer your account to another approved post office or bank.
Easy to Open:

The SBI Sukanya Samriddhi Yojana Account can be easily opened at any SBI branch across India. Minimum documents are required to open a bank account in SBI.
Tax Benefits:

Investments made in Sukanya Samriddhi Yojana SBI Account are eligible for tax benefits under Section 80C of the Income Tax Act.
Compound Interest Post Maturity:

SBI Sukanya Samriddhi Yojana Earns compound interest even after the 21-year maturity period if the amount remains untouched.
Affordable Deposits:

Nominal deposits of just ₹250 per year make it accessible for every family, allowing consistent contributions without financial pressure under SBI Sukanya Samriddhi Yojana.

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Documents Required to Open an SBI Sukanya Samriddhi Yojana Account

Here is a list of documents required for the Sukanya Samriddhi Yojana SBI:

Identity/address proof of parents/legal guardians such as Aadhaar Card, PAN Card
Girl child's birth certificate, photo of child and parent, completed Form 1
For twins/triplets: Medical certificate is required to prove birth order
A certificate of relationship is needed, especially for adopted children, to open a SBI Sukanya Samriddhi Yojana Account

How to Open a SBI Sukanya Samriddhi Yojana Account (SSY)?

You can follow the steps mentioned below to apply for the SBI Sukanya Samriddhi Yojana Account:

Offline Process:
- Visit SBI Branch: Go to your nearest SBI branch with required documents.
- Fill out the SSY Form: Request and complete the Sukanya Samriddhi Yojana application form.
- Submit Required Documents: Provide the girl child’s birth certificate, your ID and address proof (KYC), and passport-sized photos.
- Make Initial Deposit: Deposit a minimum of ₹250 or more, as per your preference.
- Account Opening Confirmation: Once processed, you’ll receive a passbook as proof of account opening.
Online Process to Open an SBI SSY Account:

Below is the process of how to open Sukanya Samriddhi account online in SBI:
- Login to SBI Net Banking: Access your SBI account via net banking or the YONO app.
- Navigate to e-Services: Click on the ‘e-Services’ section.
- Open New Account: Choose the option to open a new Sukanya Samriddhi Yojana account.
- Fill in Details: Provide all required details, including the girl child’s name, birth certificate, and your KYC documents.
- Select Deposit Amount: Enter the initial deposit amount (minimum ₹250).
- Submit and Verify: Review your application and submit. You may need to authenticate using OTP or password.
- Download Receipt: After successful account creation, download the acknowledgement receipt for your records.

SBI Sukanya Samriddhi Yojana Calculator

The Sukanya Samriddhi Yojana SBI calculator is an online tool that helps you calculate the interest earned and the maturity amount on the investments made in the SSY account. The calculator takes into account the following factors:

Amount invested every year
Age of the girl child
Starting year of the investment
Interest rate (pre-fill)

To use the SBI Sukanya Samriddhi Yojana calculator, simply enter the required details in the calculator and press the "Calculate" button.

Illustration

If you invest ₹10,000 per year in the SBI Sukanya Samriddhi Yojana account for a girl child, who is born in 2022, assuming an interest rate of 8.2% per annum. The calculator will display the following:

By 2043 (when your girl turns 21 years you will have):

Total amount invested: ₹1,50,000
Interest earned: ₹3,11,839
Maturity Value: ₹4,61,839

Wrapping It Up

The SBI Sukanya Samriddhi Yojana stands out as a secure and rewarding savings option for the girl child. It offers high interest rates, flexible deposits, and significant tax advantages. Its long-term structure and government backing ensure peace of mind for parents, while the scheme’s benefits directly support the educational and financial empowerment of girls.

Frequently Asked Questions

What is Sukanya Samriddhi Yojana 1000 per month?
If you invest ₹1000 per month into your SSY account starting from 2023, your maturity year will be 2044. Assuming an SSY interest rate of 8.2%, according to the SSY calculator, your investment will grow as follows:
- Total Investment: ₹1,80,000
- Total Interest: ₹3,94,547
- Maturity Value: ₹5,74,547
Can I invest in SSY after 15 years?

No. You cannot invest in SSY after 15 years from the account opening date. However, the account continues to earn interest on the deposited amount until maturity (21 years), even without further contributions.
Can I open two Sukanya Samriddhi accounts for one child?

No, you can open only one account in the name of a girl child.
Is there taxation on the interest earned in the SSY account?

No, the Sukanya Samriddhi Yojana is a tax-exempt investment. This means that the principal amount, interest earned, and maturity amount are exempt from taxation.
Can I close my Sukanya Samriddhi Yojana Account prematurely?

Yes, premature closure is allowed under specific circumstances, such as terminal illness or untimely death of the primary account holder. However, it is advisable to consult the bank to determine if any specific conditions apply.
Can I avail loan against my SBI Sukanya Samriddhi Yojana account?

If you are looking to take a loan against your Sukanya Samriddhi Account, it is important to be aware that loan facilities are not available for this scheme.
How can I check the current balance of my SBI Sukanya Samriddhi Yojana account?
- Access the internet banking portal of the bank authorized for Sukanya Samriddhi Yojana account opening.
- Enter your login information.
- View Sukanya Samriddhi's account balance on the homepage dashboard.
Can I withdraw money from my SBI Sukanya Samriddhi Yojana account before maturity?

Withdrawing a portion, up to 50% of the total balance, of your Sukanya Samriddhi account is permitted for two specific purposes: when the girl child is getting married or for higher education.
How to Open the Sukanya Samriddhi Yojana Account Online for SBI?
The SBI Sukanya Samriddhi Yojana Account can be opened without any hassles. Individuals who do not have a savings bank account with SBI can also open the Sukanya Samriddhi Yojana Account by simply submitting the following documents:
- Certificate of birth of the girl child
- Passport size photo of the child
- Identity proof of the parents or guardian
- Address proof of the parents or guardian
- Fill up the application form to open the SBI Sukanya Samriddhi Yojana Account.
- Attach all the required documents with the photograph.
- Deposit the minimum initial sum.
- Post verification by the bank, the SBI SSY Account will be opened.
Is it possible for the parents to withdraw money from the Sukanya Samriddhi Account?

On completing 21 years of opening the Sukanya Samriddhi Account, the balance can be withdrawn along with the interest. In case the balance is not withdrawn after 21 years, the corpus will not earn any interest.
An individual can opt for partial withdrawal up to 50% of the balance of the Sukanya Samriddhi Account for reasons such as marriage or the education of the child. In case the withdrawal is made for higher education, then the account holder needs to be 18 years of age and should have passed class 10.

A letter of admission acceptance needs to be submitted from the respective educational institution along with other relevant documents. On the other hand, if the reason is marriage, then withdrawal is permitted only when the girl has attained 18 years of age.
Does the applicant need to have an existing account to open Sukanya Samriddhi Yojana in SBI?

It doesn’t matter whether the applicants have an account in SBI or not; they still need to open a new account under SSY in the name of the girl child by providing the aforementioned documents.
What is the minimum deposit required to open an SBI Sukanya Samriddhi Yojana Account?

The Sukanya Yojana SBI can be availed of at a minimum deposit amount of Rs. 250 per account; and subsequent deposits can be made in multiples of Rs. 50, on the condition that a minimum of Rs. 250 shall be deposited in one account in a financial year.
Who should you contact to open a Sukanya Samriddhi Yojana in the SBI branch?

There are designated officials in the SBI branch who are responsible for opening SBI Sukanya Samriddhi Yojana accounts. The designated official will guide you through the rest of the process.
What is the SBI Sukanya Samriddhi Yojana?

The SBI Sukanya Samriddhi Yojana is a savings scheme initiated by the Indian government aimed at encouraging parents to save for their daughters' education and marriage.
Who can open an account under the SBI Sukanya Samriddhi Yojana?

An account under this scheme can be opened by a guardian or parent in the name of a girl child who is aged below 10 years.
What is the maximum deposit limit of the SBI Sukanya Samriddhi Yojana?

The maximum deposit limit allowed under this scheme is ₹1.5 lakh per year.
What happens if I miss a yearly deposit?

If a yearly deposit is missed, the account will be considered inactive, and a penalty will apply unless the account is regularized.

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