Benefits of Sukanya Samriddhi Yojana for Girl Child by Govt of India

Sukanya Samriddhi Yojana, initiated by the Government of India, is exclusively tailored to cater to the financial savings and future prospects of female children. It offers financial security, independence, and a promising future for a girl child. According to the provisions of this girl child program, individuals can deposit a minimum of Rs. 250/- and a maximum of Rs. 1,50,000/- per annum.

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Sukanya Samriddhi Yojana Calculator

Latest SSY Interest Rate = 8%

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

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Benefits of Sukanya Samriddhi Yojana for Girl Child

Sukanya Samriddhi Yojana offers multiple benefits to its investors and beneficiary. Let us look at some of them:

  • Higher Interest Rate: The scheme acts as insurance for girl child. It offers a higher interest rate than most other savings schemes in India. The current interest rate offered under the scheme is 8.0%. The central government revises interest rates every quarter, which ensures growth of savings at a faster rate.

  • Tax Benefits: Sukanya Samriddhi Yojana offers tax benefits under Section 80C of the Income Tax Act. The contributions made towards the scheme are eligible for a tax deduction of up to Rs. 1.5 lakh per annum. The interest earned and maturity amount are also tax-free, which means that the entire amount can be withdrawn without any tax liability.

  • Long Term Savings: A long-term savings scheme, SSY is designed to help parents save for their daughters' future education and marriage expenses. The scheme has a tenure of 21 years ensuring that the savings grow significantly over time. Moreover, the scheme allows partial withdrawals after the girl child attains the age of 18 years, which can be used for higher education or other expenses.

  • Premature Withdrawal of Funds: Parents can opt for premature withdrawal from the account once the girl child attains 18 years of age and require funds for Higher Education.
    However, only 50% of the account balance can be withdrawn in case of premature withdrawal at the end of the previous financial year. One can deposit money in the account for 15 years from the date of opening the account. 

  • Guaranteed Maturity Benefits: When the Sukanya Samriddhi Account reaches the maturity date, the account balance, including the accumulated interest, is directly paid to the policyholder (girl child in this case). This is primarily done to render financial independence to the girl child, thereby acting as an efficient tool for their empowerment in India.

People also read: Best Child Plan

How To Open a Girl Child’s SSY Account?

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

  • Visit the nearest branch of the bank or post office and collect the application form.

  • Complete the application form and submit it along with the essential documents.

  • Pay the deposit amount ranging between INR 250 to INR 1 lakh.

The bank or post office will verify the details provided by the depositor. Upon its acceptance, a Sukanya Samriddhi Yojana account will be opened under the name of the girl child.

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SSY Comparison with Other Investment Options 

The table below shows a comparison of Sukanya Samriddhi Yojana with other investment options.

Investment Option Returns Lock-in Period Tax Benefits Risk
Sukanya Samriddhi Yojana 7.6-8.5% p.a. 21 years or until maturity Tax-free Low
Public Provident Fund (PPF) 7.1% p.a. 15 years Tax-free Low
Fixed Deposits 4-6% p.a. 7 days to 10 years Taxable Low
Real Estate Varies based on market performance Long-term investment Tax on rental income and capital gains High

People also read: Sukanya Samriddhi Yojana Calculator

Wrapping Up!

Investing in different schemes is one of the best ways to build up a sufficient corpus for your girl child’s education. With the Sukanya Samriddhi Yojana, you can regularly invest a small portion for a specified period to reap significant benefits in the long run.

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˜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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