SBI Sukanya Samriddhi Yojana

The SBI Sukanya Samriddhi Yojana is a government-backed savings scheme designed to secure the financial future of a girl child in India. It offers attractive interest rates and tax benefits and encourages parents to build a strong financial foundation for their daughters' education and marriage.

Read more
Investing in your child's future:A wise decision & a loving choice
Benefits of Investing In Child Plan
Waiver of Premium Benefit
Future Premiums are paid by the insurer upon death of policyholder
Flexible Payout Options
Your premiums help your child achieve their dreams through lump sum or regular payouts
Wealth Boosters
Get rewarded with Wealth Booster and Loyalty Bonus for staying invested with us
Zero Commission
We charge no commission when you buy from us. Also buy online & get extra
Tax Benefits^
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
We are rated~
rating
7.7 Crore
Registered Consumer
50
Insurance Partners
4.2 Crore
Policies Sold

Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr# Tax Free*

+91
Secure
We don’t spam
Please wait. We Are Processing..
Your personal information is secure with us
By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company
Get Updates on WhatsApp
We are rated~
rating
7.7 Crore
Registered Consumer
50
Insurance Partners
4.2 Crore
Policies Sold
Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

SBI 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
Explore Tax Saving Funds

What is SBI Sukanya Samriddhi Yojana?

SBI Sukanya Samriddhi Yojana, or SBI SSY Scheme is a savings scheme introduced by the Indian government to promote the financial well-being of a girl child. Under this child plan, parents or guardians can open an account at any SBI branch for a girl under 10 years old and can save money until she turns 21. The account offers competitive interest rates and tax benefits, making it an excellent long-term investment option to save towards her education or marriage. SBI Sukanya Samriddhi Account offers a safe and reliable structure, encouraging disciplined savings and helps secure the child’s future.

What are the Features of SBI Sukanya Samriddhi Yojana?

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

  1. Eligibility Criteria:

    • The SBI Sukanya Samriddhi Yojana scheme is valid only for girl children who are residents of India.

    • Female children with Non-Resident Indian (NRI) status are not eligible.

    NOTE: If a girl child acquires Non-Resident Indian (NRI) status post-account opening, the parents/legal guardian must inform the SBI branch within 1 month, and the account will be closed.

  2. Age Criteria for SBI Sukanya Samriddhi Yojana:

    • The account can be opened from the birth of the girl child until she attains the age of 10 years.

  3. Account Opening Criteria:

    • The account under SBI Sukanya Samriddhi Yojana can be opened by biological parents or legal guardians of a girl child.

    • A minimum deposit of ₹250 is required to initiate the account.

    • Two accounts are allowed in a family under the SBI Sukanya Samriddhi Yojana scheme, and in the case of the birth of twins/triplets, a maximum of three accounts can be opened.

    • Accounts can be opened at all post offices and authorized bank branches across India.

  4. Tenure:

    • The tenure for a Sukanya Samriddhi Yojana SBI account is 21 years or until the girl child marries after the age of 18.

    • The account remains active for a maximum of 21 years from the opening date. After this period, no interest is earned.

  5. Deposit Criteria:

    • A Sukanya Samriddhi Yojana account in SBI can be initiated with an initial deposit as low as ₹250 per year.

    • The maximum annual deposit allowed is ₹1.5 lakh.

    • Deposits can be made through cash and/or cheques.

    Investment Investment
    Secure Secure
    Child Banner
    Secure your child’s future with or without you
    Start Investing
    ₹10,000/Month
    & Get
    ₹1 Crore*
    *Standard T & C Apply
  6. Partial Withdrawal:

    • Once the girl child attains the age of 18 years, 50% of the funds can be withdrawn from the SBI Sukanya Samriddhi account.

    • The withdrawal can be utilized for purposes like higher education or marriage.

  7. Reactivation of SBI Sukanya Samriddhi Yojana Account:

    • A minimum deposit of ₹250 per year for at least 14 years is required to ensure the continuity of the account.

    • The SBI Sukanya Samriddhi Yojana account will be deactivated if this requirement is not met in any particular year.

    • The account can be revived by paying a fee of ₹50, along with the minimum deposit amount.

Sukanya Samriddhi Yojana Interest Rates Historical Data

Policy Period SSY Interest Rate (% annually)
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
Invest More Get More
Invest ₹10K/Month YOU GET ₹1 Crores* For Your Child View Plans
Invest ₹8K/Month YOU GET ₹80 Lakhs* For Your Child View Plans
Invest ₹5K/Month YOU GET ₹50 Lakhs* For Your Child View Plans
Standard T&C Apply *

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

Listed below are some of the significant benefits of Sukanya Samriddhi Yojana SBI:

  • 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.

What are the Documents Required to Open a SBI Sukanya Samriddhi Yojana Account?

Here is a list of documents required for 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:

  1. 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.

  2. Online Process to Open a SBI SSY Account:

    • 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

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

For Example

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 helps families secure their daughters' futures through effective savings. It offers attractive interest rates and tax benefits, making it easier for parents to save for education and marriage expenses. By joining this scheme, parents can actively ensure their daughters have a brighter and more secure future.

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.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan.
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
#The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CARG 8%; ₹50,45,591 @ CAGR 4%
+Returns Since Inception of LIC Growth Fund
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

child plan investment

Investment

child plan secure

Secure

Secure your Child’s
Career Goal
Start Investing ₹10,000/Month
& Get ₹1 Crore*
*Standard T & C Apply
Insurers Offering Child Plans

Tata AIA

Aditya Birla Sun Life

Bajaj Allianz

Max Life

HDFC Life

ICICI Prudential

Bharti AXA Life

Edelweiss Life

Kotak Life

Future Generali

PNB MetLife

SBI Life

Aviva

Bandhan Life

Canara HSBC

IDBI Federal

IndiaFirst

Pramerica Life

Reliance Life

Sahara Life

Shriram Life

Star Union

View more insurers
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Child Plan3

Child plans articles

Recent Articles
Popular Articles
Diet Plan for PEM Child

05 Sep 2024

Caring for a child with Protein-Energy Malnutrition (PEM) can be
Read more
Diet Plan for Preschool Child

05 Sep 2024

Feeding your preschoolers a balanced diet is key to supporting
Read more
Ketogenic Diet Plan for Child

05 Sep 2024

The ketogenic diet, or keto, is a high-fat, low-carb diet
Read more
Weight Gain Diet Plan for Child

26 Aug 2024

If your child needs to gain weight, it's important to do so in a
Read more
Diet Plan for School Going Child

13 Aug 2024

A balanced diet is important for a child’s growth
Read more
Top 12 Government Schemes for Girl Child
  • 29 Apr 2022
  • 64452
Top 12 Government Schemes for Girl Child Government schemes for the girl child are a vital aspect of social welfare
Read more
SBI Smart Scholar Returns Calculator
  • 15 Mar 2022
  • 14379
SBI Life Smart Scholar is an insurance scheme specifically designed to address the needs of a growing children
Read more
Prime Minister Schemes For Boy Child
  • 05 Apr 2022
  • 19601
The Prime Minister Schemes for Boy Child stand as an important initiative aimed at nurturing the boy child and
Read more
SBI Life Smart Scholar Plan
  • 14 Sep 2015
  • 127913
SBI Life Smart Scholar is a non-participating ULIP Child Plan which is specifically designed to fulfill the
Read more
Bhagya Lakshmi Yojana
  • 09 Oct 2023
  • 15194
Bhagya Lakshmi Yojana is a welfare scheme launched by the Government of Karnataka in 2006 to improve the sex
Read more

top
View Plans
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL