SSY - Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana (SSY), launched on 22nd January 2015 by Prime Minister Narendra Modi, helps families save for their daughter’s future. Parents or guardians can open an SSY account at any post office or approved bank with just ₹250. The scheme helps save money for education, marriage, and other long-term goals. It gives good returns, tax benefits, and financial security, making it a safe and trusted plan for girls in India in 2026.

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What is the Sukanya Samriddhi Yojana (SSY)?

Sukanya Samriddhi Yojana is a government-backed savings scheme created specially for the girl child. It was launched under the "Beti Bachao Beti Padhao" initiative. The SSY account is opened in the name of a girl child. Parents or legal guardians manage it until the girl becomes an adult. 

This investment plan for girl child is a tax-saving scheme. The invested amount and interest earned are exempted from tax under the Income Tax Act, 1961. It offers an annual SSY interest rate of 8.2%, which is compounded annually. You can make partial withdrawals from this account at the age of 21 or before, subject to certain penalties.

Sukanya Samriddhi Yojana Information

Scheme Name Sukanya Samriddhi Yojana (SSY)
Interest Rate 8.2% per annum for Q4 of FY 2025-26 (January-March 2026) 
Minimum Investment ₹250 (multiples of ₹50)
Maximum Investment ₹1.5 lakhs per year
Deposit Period 15 years from opening
Account Maturity 21 years from opening (or marriage after age 18)
Tax Benefits You can avail a 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.
No. of Accounts (per Family) 2 Maximum  (3rd allowed for twins)

Why Choose Sukanya Samriddhi Yojana?
Why choose SSY
Help your child to meet her goals & aspirations
Why choose SSY
Create wealth for expenses like education & marriage
Why choose SSY
Get higher interest rates while saving for your child
Why choose SSY
Avail tax benefits under section 80C
Why choose SSY
If needed, transfer your SSY account across India
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Key Features of Sukanya Samriddhi Yojana

  • Account in Girl’s Name: Parents or guardians open the account for a girl child under 10 years old. The girl takes control at age 18 or 21, promoting her financial independence.
  • Fixed Duration: The SSY account matures after 21 years from the date of opening. It helps parents to plan for long-term goals like college fees or wedding expenses of the girl child with this horizon. The fixed duration helps in steady saving without early distractions.
  • Deposits for a Limited Period: Parents deposit money for the first 15 years only. The account then earns interest on the balance until maturity. This provides passive growth after deposits end.
  • Defined Contributions: Parents deposit a minimum of ₹250 and a maximum of ₹1.5 lakh per financial year. This range fits various family budgets. Partial withdrawals help during key needs without closing the account.
  • Controlled Withdrawals: The scheme allows partial withdrawals up to 50% of the balance after the girl turns 18. Parents use this for higher education. At maturity or marriage after 21, families access the full amount. Premature closure happens only under hardships like the child's illness.

Eligibility Criteria for Sukanya Samriddhi Yojana

The following are the eligibility criteria for the Sukanya Samriddhi Yojana:

  • The account can be opened for a girl child below 10 years of age.
  • Only parents or legal guardians can open and operate the account.
  • A family can open a maximum of two SSY accounts, one for each daughter.
  • The girl child must be a resident Indian at the time of opening the account.

NRI Eligibility Rule

  • NRIs cannot open a new Sukanya Samriddhi Yojana account.
  • If the girl child becomes an NRI after the account is opened, the account continues but earns interest at the applicable post office savings rate, not the SSY rate, until maturity or closure.
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Age Limit, Deposits, and Maturity Period of Sukanya Samriddhi Yojana (SSY)

  1. Age Limit

    • Parents or legal guardians can open an SSY account for a girl child below 10 years of age.
    • The account is opened in the name of the girl child and managed by the parent or guardian until she becomes an adult.
    • Only resident Indian girl children are eligible to open an SSY account.
  2. Deposit Rules

    Sukanya Samriddhi Yojana allows flexible deposits, making it suitable for families with different income levels.

    • Minimum deposit: ₹250 per financial year
    • Maximum deposit: ₹1.5 lakh per financial year
    • Deposits must be made for 15 years from the date of account opening
    • Parents can deposit money monthly, yearly, or at any time during the year
    • If the minimum deposit is missed, a ₹50 yearly penalty applies, but the account continues to earn interest
  3. Maturity Period

    • The SSY account matures after 21 years from the date of opening
    • After completing 15 years of deposits, the account continues to earn interest until maturity
    • The account can also mature earlier if the girl gets married after the age of 18
    • Partial withdrawal of up to 50% of the balance is allowed after the girl turns 18 for higher education as per the Sukanya Samriddhi Yojana withdrawal rules.

Sukanya Samriddhi Yojana Interest Rate

  • In 2026, Sukanya Samriddhi Yojana continues to offer one of the highest interest rates of 8.2% p.a. among small savings schemes.
  • Interest is compounded yearly and reviewed by the government every quarter.

**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)
Jan 2026 - Present 8.2
Jul 2024 – Dec 2025 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

SSY Tax Benefits 

Sukanya Samriddhi Yojana provides triple tax benefits, which make it highly tax-efficient.

  • Deposits qualify for a tax deduction under Section 80C.
  • Interest earned is tax-free
  • Maturity amount is fully tax-exempt under Section 10(10D).

Formula to Calculate the Interest Earned on SSY

To calculate the interest earned on an SSY account, you can generally use the following formula:
A = P(1 + r/n)^(n*t)
Terms used in Interest Earned on SSY
P
Initial deposit
r
Rate of interest
n
Number of times interest is compounded in a year
t
Number of years
A
Amount at maturity

Estimate SSY Maturity Amount

The power of the SSY scheme lies in the compounding interest over 21 years. You can understand the real projections from this investment plan in 2026 by using the SSY calculator:

Annual Deposit Deposit Period Total Invested (15 yrs) Investment Growth Period Interest Rate in 2026 Maturity Value (in 21 years, by 2047)
₹1 lakh 15 years = ₹1 lakh ✖ 15 = ₹15 lakhs 21 years 8.2% p.a. ₹46.18 lakhs
₹1.5 lakhs 15 years = ₹1.5 lakh ✖ 15 = ₹22.5 lakhs 21 years 8.2% p.a. ₹69.27 lakhs

*You can customise your SSY calculator to plan your investment plan for Ivy League education or the dream wedding of your girl child.

Benefits of Sukanya Samriddhi Yojana- SSY

The Sukanya Samriddhi Yojana offers the following advantages over traditional FDs or other government schemes to invest in India in 2026:

  1. Ensures Financial Security for Daughter’s Future

    SSY builds a dedicated fund for milestones like university or marriage. Parents avoid loan burdens this way. For example, ₹1.5 lakh annual deposits at 8.2% grow to over ₹1 crore by maturity.

  2. Triple Tax Benefits

    SSY deposits qualify for deductions up to ₹1.5 lakh under Section 80C. Interest and maturity proceeds stay tax-free under Section 10(10D). This EEE status beats many other schemes.

  3. SSY Protects Funds from Market Fluctuations

    The government guarantees returns regardless of stock market changes. Quarterly reviews keep the interest rate stable.

  4. Encourages Early and Regular Saving Habits

    Starting early maximises compounding benefits. Families gain 2-3 times more value than later starts. Annual caps promote disciplined budgeting.

  5. Parents Gain Peace of Mind

    The Indian government backs SSY with a sovereign guarantee and no credit risk. Clear rules, easy bank transfers, and nomination options simplify planning.

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How to Open a Sukanya Samriddhi Account?

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

  • Step 1: You must visit the nearest bank branch or post office and collect the application form.
  • Step 2: Complete the application form and submit it along with the essential documents mentioned above.
  • Step 3: The investor is required to pay the deposit amount, which could range between ₹250 to ₹1 lakh.
  • Step 4: The bank or post office will verify the details provided by the depositor. An SSY account will be opened if all the details are correct with the bank or post office.

Key Tips for NRI Investors 

  • Mandatory Closure: If the girl becomes a Non-Resident Indian (NRI), you need to close the SSY account within 1 month, so that no further interest accrues in the account.​
  • Strategy: Use SSY during Indian residency of the girl child (birth to 18); You can make a transition to children’s mutual funds or PPF equivalents abroad.

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:

  • The 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 to the bank for the SSY account.
  • Other KYC proofs, such as PAN card and Voter ID, must be done.

How to Open a SSY Account?

You can open the Sukanya Samriddhi Account (SSA) through authorised Post Offices or Banks:

  1. Open an SSA account by Filing Form at the Post Office

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

    • You can get Form SSA-1 from the local post office or download it from official websites like India Post, SBI, or bank portals.
    • Enter the exact post office branch name and application date at the top to ensure smooth processing.
    • Fill in the girl child’s full name, date of birth, and place of birth exactly as on her birth certificate. Add her Aadhaar number if available.
    • Provide the guardian’s full name, relationship to the child (father/mother), ID proof details (Aadhaar, PAN, or Voter ID), date of birth, and contact number.
    • Mention the complete residential address (house number, street, city, PIN) and permanent address if different. Include an active mobile number and email for updates.
    • Select Sukanya Samriddhi Yojana as the account type and state the initial deposit (minimum ₹250, maximum ₹1.5 lakh per year). Attach a recent passport-size photo of the girl child.
    • Choose the payment mode in cash, cheque, or demand draft. For cheque/DD, provide cheque number, bank name, and date. Carry cash if paying immediately.
    • Include all the necessary paperwork: the girl's birth certificate, ID, and proof of address (Aadhaar/PAN), as well as two passport-size photos of the child and guardian and the first deposit.
  2. Open an SSA Account Through Banks

    You can open a Sukanya Samriddhi Yojana interest rate account at any bank branch that provides the scheme. You will need to fill out an application and send in the same papers that you would need to start an account at the post office.

Can I Open an SSY Account online in 2026?

No, you cannot open a Sukanya Samriddhi Yojana (SSY) account fully online in 2026. To open an account, parents or guardians must go to a certain post office or authorised bank branch in person.

After opening the SSY account, you can obtain the following services:

  • India Post Payments Bank (IPPB): After you open an account at a post office, you can use their app to make deposits, set up standing instructions, and check your balance.
  • Bank Net Banking: Once an account is set up, some banks (including SBI and Axis) let you make deposits and manage your account online.
  • e-KYC: Aadhaar-based verification speeds up branch visits but still requires physical submission.

Banks that Offer Sukanya Samriddhi Yojana Account Facility 

The SSY plan is available at the following banks:

  • State Bank of India (SBI)
  • Punjab National Bank (PNB)
  • Bank of Baroda (BoB)
  • Bank of India (BoI)
  • Bank of Maharashtra
  • Canara Bank
  • Central Bank of India (CBI)
  • Indian Bank
  • Indian Overseas Bank
  • UCO Bank
  • Union Bank of India (UBI)
  • Punjab and Sind Bank
  • IDBI Bank
  • ICICI Bank
  • Axis Bank
  • HDFC Bank

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

Follow these simple procedures to transfer a Sukanya Samriddhi account from a post office to a bank:

  • Go to the post office where the account is now open.
  • Tell the post office manager that you want to move the account to a bank.
  • The post office will provide you with paperwork to fill out to transfer your account.
  • Send in the transfer form, the passbook, and the KYC paperwork that you filled out.
  • The post office worker will take care of the request and close the account as the beneficiary asked.
  • Next, go to the bank branch where you wish the account to be moved.
  • Send the bank all the papers they need, including self-attested KYC documents.
  • The bank will handle the request for a transfer and provide you with a new passbook when it's done.

How to Pay for an SSY Account Online?

You can deposit money into an existing Sukanya Samriddhi Yojana (SSY) account online in the following ways: 

  1. For Post Office SSY Accounts

    India Post Payments Bank (IPPB)

    • Use the India Post Payments Bank (IPPB) app for seamless UPI/online transfers:
    • Register in the IPPB app with Aadhaar and biometrics. Link your SSY account number and DOP Customer ID (from passbook).
    • In the IPPB app, go to "Department of Posts" > "Sukanya Samriddhi Account." Enter SSY details, amount (₹250-₹1.5 lakh/year), and confirm via UPI PIN. Instant credit.

    Other Modes: 

    • You can send money from any bank using IMPS, NEFT, or UPI, or you can deposit cash at the post office.
    • For SSA, set up automatic deposits of up to ₹1.5 lakh every financial year.
  2. For Bank SSY Accounts

    Bank’s App or Online Banking

    • Use the bank's app or internet banking, such as SBI YONO or HDFC PayZapp.
    • Go to "Deposits" and then "Sukanya Samriddhi" or "Government Schemes."
    • Enter the SSY account number, the amount, and click "Confirm." Money is taken out of connected savings right away.

    Other Ways to Pay Online

    • Scan the QR code that IPPB gives you for post office SSY or bank UPI IDs using UPI apps like BHIM, PhonePe, or GPay.
    • Use your SSY account and an IFSC code for your branch to transfer through NEFT/RTGS.
    • Set up auto-debit from savings (up to ₹1.5 lakh/year) as a standing instruction.

Important Forms Required for Sukanya Samriddhi Yojana

Some of the important forms that need to be filled under the SSY Scheme (Sukanya Samriddhi Yojana) are as follows:

Form No Form Detail
Form 1 Account opening application form
Form 2 Pay slip
Form 3 Loan or Withdrawal application
Form 4 Pass Book
Form 5 Transfer of account application 
Form 6 Extension of account application
Form 7 Pledging of account application 
Form 8 Premature closure application 
Form 9 Full closure of account application
Form 10 Cancellation or change of nomination in an account application
Form 11 Settlement of the deceased depositor's account application
Form 12 Authority letter to operate an account on behalf of depositor
Form 13 Affidavit
Form 14 Letter of disclaimer
Form 15 Letter of indemnity

What are the Details Recorded in the Passbook?

The following details are displayed on the passbook of the SSA account:

  • Account Information: Girl child’s name, parent/guardian, DOB, account number
  • Nominee: Name and relationship
  • Branch Details: Bank/Post Office name, branch code/IFSC
  • Maturity: Maturity date, expected maturity amount
  • Deposits: Date, amount, mode of deposit
  • Interest: Annual interest credited, total interest earned
  • Balance: Running account balance
  • Notes: Penalties, corrections, or special instructions

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

  1. 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, and application form.
  2. Premature Withdrawal (for Marriage):

    • Allowed once the girl turns 18 and is getting married.
    • The application must be submitted 1 month before to 3 months after the marriage.
    • Age proof of the girl is mandatory.
  3. 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 a 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.

  1. Death of Girl Child

    With death certificate.

  2. Marriage (after age 18)

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

  3. Medical Emergency

    In case of life-threatening illness or guardian’s death, with relevant documents.

  4. Change in Citizenship/Residency

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

  5. 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.

  6. 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 rates: 8.20%
You can invest a maximum amount up to ₹1,50,000
Yearly
  • ₹250
  • ₹1,50,000
Govt. allows maximum age of enrollment to 10 years
Years
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
Investment term is 21 years
Year
Total investment
₹1.5 Lakh
Total interest
₹3.3 Lakh
Maturity year
2047
Maturity value
₹4.8 Lakh
Explore Tax Saving Funds
*for market linked plans only

Conclusion

Sukanya Samriddhi Yojana (SSY) helps secure a girl child’s future with 8.2% tax-free interest over a 21-year tenure. Annual deposits range from ₹250 to ₹1.5 lakh for 15 years, creating a potential corpus of ₹1 crore or more for education or marriage, without market risk. With EEE tax benefits and a government guarantee, SSY clearly outperforms PPF and fixed deposits. Starting before age 10 maximises compounding and ensures smooth, stress-free long-term planning for the next generation.

Frequently Asked Questions

  • What are the previous interest rates of the SSY scheme in 2026?

    Period Interest Rate (% annually)
    January 2026 - Present 8.2%
    July 2024 – December 2025 8.2%
    October 2023 – June 2024 8.0%
    January 2023 – September 2023 7.6%
    July 2022 – December 2022 7.6%
    April 2022 – January 2022 8.0%
    July 2019 – March 2022 7.6%
    January 2019 – June 2019 8.5%
    July 2018 – December 2018 8.1%
    April 2018 – June 2018 8.1%
    July 2017 – March 2018 8.3%
    April 2017 – June 2017 8.4%
  • Who can use the Sukanya Samriddhi Yojana (SSY) Calculator?

    Anyone planning to invest in SSY can use the calculator. It is mainly useful for parents or guardians of a girl child who is 10 years or below and an Indian resident, as it helps estimate maturity value based on yearly deposits and the current interest rate.
  • Who is eligible to open an SSY account?

    An SSY account can be opened by the parents or legal guardian of a girl child who is below 10 years of age. Only one account per girl child is allowed, and a family can open up to two accounts, with an exception for twins or triplets.
  • What documents are required to open an SSY account?

    To open an SSY account, the following documents are required:
    • Birth certificate of the girl child
    • Identity proof of parent/guardian (Aadhaar, PAN, Voter ID, Passport, etc.)
    • Address proof of parent/guardian (Aadhaar, utility bill, passport, ration card, etc.)
    • Any additional document if requested by the bank or post office
  • How can an SSY account be opened offline?

    The account can be opened at any post office or authorized bank branch. The process includes filling Form SSA-1, submitting required documents, and making an initial deposit between ₹250 and ₹1.5 lakh. After verification, the account is activated and a passbook is issued.
  • How is interest calculated on the SSY account?

    Interest on SSY is compounded annually and calculated on the lowest balance in the account between the 5th and the end of each month. The final maturity amount depends on yearly deposits, tenure, and the applicable interest rate.
  • What is the current interest rate on SSY in 2026?

    As of 2026, Sukanya Samriddhi Yojana continues to offer a high interest rate of 8.2% per annum, reviewed quarterly by the government. The interest earned is completely tax-free.
  • What tax benefits are available under SSY?

    SSY is an EEE (Exempt-Exempt-Exempt) scheme:
    • Deposits up to ₹1.5 lakh per year qualify for tax deduction under Section 80C
    • Interest earned is tax-free
    • Maturity and withdrawal amounts are also tax-free
  • Can money be withdrawn before maturity?

    Yes. Up to 50% of the balance can be withdrawn once the girl child turns 18 years, for higher education or marriage, subject to conditions and supporting documents.
  • What is the maturity period of the SSY account?

    The account matures 21 years from the date of opening. Deposits are required only for the first 15 years, while interest continues till maturity.
  • Who operates the SSY account?

    The account is operated by the parent or guardian until the girl child turns 18 years. After that, she can operate the account herself.
  • Can the SSY account be transferred?

    Yes. The SSY account can be transferred anywhere within India, from one post office to another or between a bank and post office, without affecting benefits.
  • Are loans allowed against the SSY account?

    No. Loans are not permitted against the Sukanya Samriddhi Yojana account.
  • Are NRIs eligible for SSY?

    No. NRIs are not eligible to open or continue an SSY account. If the girl child becomes an NRI or loses Indian citizenship, the account must be closed.
  • Is premature closure of the SSY account allowed?

    Yes, premature closure is allowed in specific cases, such as:
    • Death of the girl child
    • Life-threatening medical conditions
    • Change in citizenship or residency
    • Extreme hardship after 5 years, subject to approval
  • What happens if the girl child passes away during the tenure?

    In case of the unfortunate demise of the girl child, the account is closed immediately, and the full balance along with interest is paid to the parent or guardian.
  • Can an existing bank deposit or FD be converted into SSY?

    No. Existing bank deposits or fixed deposits cannot be converted into a Sukanya Samriddhi account.

˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI 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.

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Top 16 Government Schemes for Girl Child
  • 29 Apr 2022
  • 196591
Government schemes for girl child are a key element of social welfare programs that try to make sure girls grow
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