SSY - Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme launched in 2015 under the “Beti Bachao Beti Padhao” initiative to secure the financial future of girl children in India. The scheme encourages parents or guardians to open an account in the name of a girl child (up to age 10) and make regular deposits, which can later be used for her education and marriage expenses.

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What is the Sukanya Samriddhi Yojana (SSY)?

Sukanya Samriddhi Yojana is a savings scheme regulated by the Government of India for girls. Under this scheme, parents or legal guardians can open an account in the name of a girl child and deposit a fixed amount annually. The minimum age for opening an account is 10 years, and the maximum is 14 years. The account remains active until the girl turns 21 years old.

The scheme offers an annual interest rate of 8.2%, compounded yearly. Partial withdrawals from the account can be made at the age of 21 or before, subject to certain penalties.

Sukanya Samriddhi Yojana is a tax-saving scheme. The deposited amount and interest earned are exempted from taxation.

Primary Objectives of Sukanya Samriddhi Yojana:

Counter bias against girl children by promoting financial security and equal opportunities.
Provide a safety net for girls by encouraging parents to save for their daughters' future.
Address challenges faced by girls, like limited access to education and opportunities.
Support education, well-being, and overall development of girl children in India.

Sukanya Samriddhi Yojana Information

Scheme Name	Sukanya Samriddhi Yojana (SSY)
Interest Rate	8.2% per annum Q1 (April-June 2025)
Minimum Investment	₹250
Maximum Investment	1.5 lakhs
Maturity Period	21 years
Tax Benefits	You can avail tax benefit of up to ₹1.5 lakh during a financial year under this scheme under section 80C of the Income Tax Act of 1961.

Why Choose Sukanya Samriddhi Yojana?

Help your child to meet her goals & aspirations

Create wealth for expenses like education & marriage

Get higher interest rates while saving for your child

Avail tax benefits under section 80C

If needed, transfer your SSY account across India

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Features and Benefits of the Sukanya Samriddhi Yojana Scheme

Here are the benefits of the Sukanya Samriddhi Yojana:

Eligibility: Parents or legal guardians can open a Sukanya Samriddhi Yojana interest rates account for a girl child below the age of 10 years.
Interest Rate: As of the last update, the SSY offers an attractive interest rate of 8.2% per annum, revised quarterly.
Tenure: The SSA interest rate account matures after 21 years from the date of opening or upon the girl's marriage after the age of 18 years.
Tax Benefits: Investments in SSY qualify for tax deductions under Section 80C of the Income Tax Act. Additionally, the interest earned and the maturity amount are tax-free. The maturity proceeds are tax exempted under Section 10(10D) of the Income Tax Act.

Premature Withdrawal: A partial withdrawal of up to 50% of the account balance is permitted after the girl child attains the age of 18 years for higher education purposes.
Account Operation: Sukanya Samriddhi Yojana interest rate accounts can be opened at post offices and authorized banks.
Number of Accounts: A maximum of two Sukanya Samriddhi Yojana interest rates accounts can be opened for two girl children in a family.
Documentation: To open an SSY account, you need the birth certificate of the girl child, along with the identity and address proof of the parent or guardian.
Long Tenure: The 21-year tenure of SSY allows ample time to accumulate substantial savings for your daughter's future.
Partial Withdrawal Facility: Parents can withdraw up to 50% of the account balance after their daughter turns 18 for her higher education.
Premature Closure Facility: SSY accounts can be closed prematurely in case of the account holder's or the girl child's demise or if the girl child gets married before the age of 18 years. Certain conditions allow for premature closure after 5 years.
Government Guarantee: SSY is backed by the government, ensuring the safety of deposits and making it a secure investment option for parents.
Mode: The deposits in the beneficiary accounts can be made via online transfer, net banking, demand draft, cash or cheque.
Educational Expenses: Withdraw up to 50% of the previous year's balance for educational costs with proof of admission.

Eligibility Criteria for Sukanya Samriddhi Yojana

The following are the eligibility criteria for Sukanya Samriddhi Yojana:

The girl child must be ten years or younger.
Legal guardians or parents are eligible to open an SSY account in the name of the girl child.
The depositor can only open one account per girl child. However, two accounts can be opened in the case of twins or two girls. Not more than two accounts are allowed to open in a family.
The third account can be opened in case of one girl child plus female twins.

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Sukanya Samriddhi Yojana Interest Rate

The current interest rate for the Sukanya Samriddhi Yojana (SSY) is 8.2% per annum. The interest is compounded on a yearly basis, and it is subject to change based on government decisions. The rate of interest is determined quarterly.

**Please note that once the duration of the scheme is completed or if the girl becomes a Non-Resident Indian (NRI) or a non-citizen, interest payments are no longer applicable.

Historic Rates of SSY

Period	Interest Rate (% annually)
Jul 2024 – Present	8.2
Oct 2023 – Jun 2024	8.0
Jan 2023 – Sep 2023	7.6
Jul 2022 – Dec 2022	7.6
Apr 2022 – Jun 2022	8.0
Jul 2019 – Mar 2022	7.6
Jan 2019 – Jun 2019	8.5
Jul 2018 – Dec 2018	8.1
Apr 2018 – Jun 2018	8.1
Jul 2017 – Mar 2018	8.3
Apr 2017 – Jun 2017	8.4

Formula to Calculate the Interest Earned on SSY

Age Limit & Maturity Period of Sukanya Samriddhi Yojana (SSY)

Age Limit:

The account can be opened anytime from the girl child's birth till she turns 10.
Beneficiary:

Only one SSY account is allowed per Indian girl child.
Deposits:
- Guardians can deposit up to ₹1.5 lakh per year for 15 years.
- Minimum deposit: ₹250 (in multiples of ₹50).
- Deposits can be made via cash, cheque, DD, or online.
Account Operation:

Parents operate the account until the child turns 18. After that, she must manage it herself.
Interest Rate:

Currently 8.2% p.a. (as of April-June 2025).
Defaults:

Missed minimum deposit attracts ₹50/year penalty, but account continues to earn interest.
Maturity:
- Matures after 21 years from account opening or earlier if the girl marries after 18.
- Contributions are needed only for 15 years; interest accrues until maturity.
- No interest is paid post 21 years or if the beneficiary becomes a non-resident or non-citizen.

How to Open a Sukanya Samriddhi Account?

Below are the following steps one should follow to open a Sukanya Samriddhi Account:

You must visit the nearest bank branch or post office and collect the application form.
Complete the application form and submit it along with the essential documents mentioned above.
The investor is required to pay the deposit amount, which could range between ₹250 to ₹1 lakh.
The bank or post office will verify the provided details by the depositor. An SSY account will be opened if all the details are correct by the bank or post office.

How to Fill an SSY Account Form for the Post Office?

To fill an SSY account form for the post office, follow these simple steps:

Visit the nearest post office and request the SSY account application form.
If you already have a savings account with the post office, mention your account number.
Provide the post office branch details and postal address in the' To The Postmaster' section.
Attach a photograph of the applicant.

Fill in the applicant's name and select 'Sukanya Samriddhi Yojana' as the chosen option.
Complete the 'Account Type' and 'Account Holder Type' fields with the relevant information.
Specify the initial deposit amount you wish to make once the account is created.
Provide other necessary details like gender, Aadhaar number, PAN, address, etc.
Sign page 1 to authorize all the information provided.
On Page 2, section (5), indicate if you want to set standing instructions for deposits.
Check the box next to SSA to confirm that no other SSY account exists.
Enter the date and signature as required.
Complete the nomination details section.
If the applicant is illiterate, have two witnesses sign on their behalf.
Finally, provide the place, date, and signature at the end of the nomination section.

How to Pay for an SSY Account Online?

You can pay for Sukanya Samriddhi Yojana interest rate account online using the National Electronic Fund Transfer (NEFT) or RTGS. To do this, you will need to know the following details:

Account number of the SSY account
IFSC code of the post office or bank branch where the account is held

Once you have these details, you can log in to your net banking account and initiate a NEFT or RTGS transfer.

How to Open a Sukanya Samriddhi Yojana Account Through Banks?

To open a Sukanya Samriddhi Yojana interest rate account through a bank, you can visit any bank branch that offers the scheme. You will need to fill out an application form and provide the same documents as required for opening an account at the post office.

Banks that Offer Sukanya Samriddhi Yojana Account Facility

The following banks offer the SSY scheme:

State Bank of India
Bank of Maharashtra
ICICI Bank
Punjab National Bank

Indian Overseas Bank
Bank of Baroda
UCO Bank
Central Bank of India
Canara Bank
Axis Bank
Union Bank of India
Indian Bank
Punjab and Sind Bank
IDBI Bank
Bank of India

How to Transfer Sukanya Samriddhi Account from the Post Office to the Bank?

To transfer a Sukanya Samriddhi account from a post office to a bank, follow these simple steps:

Visit the post office where the account is currently held.
Inform the post office executive about transferring the account to a bank.
Fill out the account transfer form provided by the post office.
Submit the duly filled transfer form along with the passbook and KYC documents.

The post office executive will process the request and discontinue the account as per the beneficiary's request.
Next, visit the bank branch where you want the account to be transferred.
Submit all required documents, including self-attested KYC documents, to the bank.
The bank will process the transfer request, and a new passbook will be issued upon completion.

What are the Documents Required to Open an SSY Account?

The investor is required to submit the following details to open an SSY account in the name of the girl child:

Depositor is required to submit the birth certificate of a girl child.
Parents or legal guardians must submit a photo ID.
Address proof must be furnished before the bank for the SSY account.
Other KYC proofs, such as PAN card, and Voter ID must be done.

What are the Details Recorded in the Passbook?

SSY passbook contains key details like account opening date, girl child's DOB, unique account number, account holder's name/address, and deposit records.
It serves as a transaction record for deposits, interest payments, and account closure, requiring presentation at the bank/post office.
It is important for tracking financial activities and maintaining transparency in Sukanya Samriddhi Yojana scheme accounts.

Withdrawal & Premature Closure Rules for Sukanya Samriddhi Yojana (SSY)

Partial Withdrawal (for Education):
- Allowed when the girl turns 18 and has completed Class 10.
- Funds must be used for higher education (tuition/admission fees).
- Max withdrawal: 50% of last year’s balance.
- Can be taken in up to 5 installments or as a lump sum.
- Required documents: Admission letter, fee receipt, ID proof, address proof, application form.
Premature Withdrawal (for Marriage):
- Allowed once the girl turns 18 and is getting married.
- Application must be submitted 1 month before to 3 months after the marriage.
- Age proof of the girl is mandatory.
Premature Account Closure:
- If the girl becomes a non-resident or non-citizen (closure mandatory within 1 month).
- On the death of the girl child (requires death certificate).
- If the account has been active for 5+ years and continuation causes undue hardship.
- Other closures may be allowed, but interest will be reduced to the Post Office savings rate.

Closure Rules for Sukanya Samriddhi Yojana Account

The account matures when the girl turns 21.
Full amount (principal + interest) is paid to the girl or guardian.
ID, address, and citizenship proof must be submitted.

Death of Girl Child

With death certificate.
Marriage (after age 18)

Apply 1 month before or up to 3 months after marriage with age proof.
Medical Emergency

In case of life-threatening illness or guardian’s death, with relevant documents.
Change in Citizenship/Residency

Notify within 1 month if a girl becomes a non-resident/non-citizen.
After 5 Years

If continuing the account becomes difficult for the girl child, the account can be closed prematurely by providing a satisfactory reason to the post office or the bank.
Other Cases

Closure possible anytime; interest will be as per post office/bank policy.

Sukanya Samriddhi Yojana Calculator

The Sukanya Samriddhi Yojana calculator is a tool that helps you estimate the maturity amount you'll receive from your SSY investment. It considers factors like your annual deposit amount, interest rate, and investment period. This helps you plan your contributions and understand the potential returns for your daughter's future.

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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Conclusion

Sukanya Samriddhi Yojana (SSY) is a highly beneficial government savings scheme designed to secure the financial future of girl children in India. With its attractive interest rates, tax benefits, and flexible deposit options, SSY encourages families to invest in their daughters’ education and well-being. The scheme’s widespread adoption reflects its success in promoting both financial planning and gender equality. It is a vital tool for empowering and uplifting girls across the country.

Frequently Asked Questions

Who can use the Sukanya Samriddhi Yojana (SSY) Calculator?
The Sukanya Samriddhi Yojana calculator can be used by anyone. To successfully use the calculator and take the utmost advantage of the scheme, one must satisfy the following criteria:
- The girl child or the beneficiary should have the residential status of India.
- The beneficiary should be ten years or below.
- The family is entitled to open the two SSY accounts. However, another account can also be opened in the case of the twins.
- The legal heir or parents of the girl child are eligible to open the SSY account.
The family of the beneficiary should be able to produce the following documents in order to open an SSY account in the name of the girl child.
- Birth certificate of the beneficiary.
- Identity proof of the parents or legal guardian such as a Ration card, PAN card, Driving license, Passport, etc.
- The depositor (parents or legal guardian) should be able to provide the address proof such as electricity or utility bill, telephone bill, passport, driving license, ration card, etc.
- An additional document should also be provided by the deposit at the request of the concerned authority.
How to open the SSY scheme offline?
The SSY scheme can be opened offline at any post office or participating bank. In order to open the account, the individual is required to complete the following guidelines.
- Visit the bank or post office where the SSY account is required to be opened.
- Collect the application form and fill out the necessary information.
- Attach the relevant documents or supporting papers to the application form.
- Pay the deposit in the form of a cheque, cash or demand draft. The payment for the deposit ranges between INR 250 to INR one lakh.
- The application and the payment will be processed by the post office or the bank.
- Upon verifying the details provided by the depositor, the bank or post office will activate the SSY account. The individual will obtain a passbook for the same.
How can one calculate the interest on Sukanya Samriddhi Yojana?
The assessor is required to apply the following formula in order to calculate the interest on SSY.
A = P(1+r/n)^nt
- P = Refers to the principal amount the investor is likely to pay under the SSY scheme.
- R = Refers to the rate of interest the SSY scheme offers.
- N = Refers to the number of times interest compounds in a year
- T = Refers to the number of years

What are the previous interest rates of SSY scheme?

Period	SSY Interest Rate (% annually)
July to September 2024 (Q2 FY 2024-25)	8.2
April to June 2024 (Q1 FY 2024-25)	8.2
January to March 2024 (Q4 FY 2023-24)	8.2
October to December 2023 (Q3 FY 2023-24)	8.0
July to September 2023 (Q2 FY 2023-24)	8.0
April to June 2023 (Q1 FY 2023-24)	8.0
Jan to Mar 2023 (Q4 FY 2022-23)	7.6
Oct to Dec 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 tax benefits one may avail of in SSY scheme?
Below are the following tax benefits one may avail of under Sukanya Samriddhi Yojana.
- Tax deduction benefits of up to INR 1.5 lakh can be availed during a financial year on the contribution made by the depositor under section 80C of the Income Tax Act of 1961.
- The interest generated will also be exempted from paying tax under section 10 (10D) of the Income Tax Act of 1961.
- One may also avail of the tax benefit for the maturity amount and amount at the time of withdrawal.
Can I withdraw money from Sukanya Samriddhi Yojana before maturity?

You have the option to withdraw a portion of the funds in your Sukanya Samriddhi account, with a limit of up to 50%, for either the purpose of the marriage or higher education expenses of the female child.
Can a Sukanya Samriddhi Yojana account be transferred from one location to another?

The Sukanya Samriddhi Account is transferable to any location within India and can be transferred from either a post office to a bank or from a bank to a post office, providing flexibility for the account holder.
Where can one open a Sukanya Samriddhi Yojana account?

One can go to any Indian post office to open a Sukanya Samriddhi Yojana account. The individual would get all the instructions from the official who is assigned for opening the accounts. Some other financial institutions also offering this scheme are Sukanya Samriddhi Yojana SBI, the Sukanya Samriddhi Yojana HDFC, and the Sukanya Samriddhi Yojana in PNB.
How to open a Sukanya Samriddhi Yojana account?

One can open Sukanya Samriddhi Yojana Account in the name of the girl child with a minimum deposit of Rs.250 before she turns 10 years of age. In the current financial year, one can deposit up to a maximum of Rs.1.5 lakh in the SSY account.
Under the Sukanya Samriddhi Scheme, what is the maximum age limit given to the girl child to avail of the scheme?

As Sukanya Samriddhi Yojana is a newly launched government scheme that aims to provide financial security to a girl child. Thus, any parent with a girl who is below the age of 10 years is eligible to avail of the scheme. Moreover, a girl child who has attained the age of 10 years, precisely 1 year before the launch of the scheme is also eligible for the scheme.
Why should I opt for Sukanya Samriddhi Yojana?

If you do not want to have stress on the finances for your girl child, Sukanya Samriddhi Yojana is the best investment plan for you. It will secure the future of your girl child as you can use the maturity amount for her higher education and as well as at the time of her marriage.
Who can deposit and operate the account?

Legal guardians or parents can operate this account until the insured girl child attains the age of 10 years or until the maturity of the account. The girl child is eligible to operate this account as soon as she turns 10 years old if she wants to.
What are the tax benefits offered under Sukanya Samriddhi Yojana?

There are various tax benefits offered under Sukanya Samriddhi Yojana. The SSY investment plan is designated as an EEE (Exempt, exempt, exempt) investment option. This means that the amount contributed towards the scheme up to the maximum limit of Rs.1.5 lakhs, the interest received on the invested amount and the maturity proceeds are all tax exempted under section 80C of the Income Tax Act.
Who can open Sukanya Samriddhi account?
The Sukanya Samriddhi Yojana account can be opened by any parents or legal guardian of a girl child on behalf of their daughter. However, while opening an account the parents or legal guardian should fulfill certain eligibility criteria such as:
- The maximum age limit of the girl should be 10 years or less.
- Only 2 SSY account is allowed for a single-family i.e. one for each girl child.
- Only one account can be opened in the name of a single girl child.
What is the period of the Sukanya Samriddhi Scheme?

The Sukanya Samriddhi Account can be opened for 21 years, however, you can keep the account open after 21 years but no interest will be paid after maturity of the account.
When can parents withdraw from the Policy?

The Sukanya Samriddhi Account allows 50 percent withdrawal of the deposited money when the covered girl child reaches 18 years for higher education. However, the account gains maturity after the completion of 21 years from the date of account opening.
Is there a facility to take a loan against the balance of the SSY account?

No, the facility of loan is not applicable against the SSY account.
Can a Non-Resident Indian avail the Sukanya Samriddhi Scheme?

As of now, the NRIs (Non-Residential Indian) are not eligible to avail Sukanya Samriddhi Yojana Account.
Can I make premature closure of the Sukanya Samriddhi Account?

Yes, you can make premature closure of the Sukanya Samriddhi Account in specific cases. This may include sympathetic ground such as terminal illness, the unexpected demise of the primary account holder, etc. However, premature closure of the account entirely varies from situation to situation.
Can I continue to invest in the SSY account if I and my daughter move to another country?

The Sukanya Samriddhi Account will have to be closed if the girl child becomes an NRI or loses Indian citizenship.
What happens in case of an uncertain demise of the girl child during the tenure of the scheme?

In case of the unfortunate demise of the girl child during the tenure of the scheme, the account is discontinued and closed and the proceeds are transferred to the parents or guardian of the girl child.
Can I convert my bank deposit account to Sukanya Samriddhi Account?

No, currently there is no feature available to convert the bank deposit account to an SSY account.

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