Canara Bank Sukanya Samriddhi Yojana

Features and Benefits of Canara Bank Sukanya Samriddhi Account

Some key features and benefits of the Sukanya Samriddhi Yojana are given below:

• Eligibility criteria:
  • A Canara Bank Sukanya Samriddhi Account can be opened for a girl child below 10 years.
  • The account can be opened by a parent or legal guardian.
  • Only one account can be opened for a girl child
• Deposit rules:
  • The minimum deposit amount that can be deposited in the SSY account is ₹250, while the maximum deposit amount is ₹1.5 lakh in a financial year.
  • The deposits can be made for 15 years from the date of account opening.
• Partial withdrawal rules:
  • You can withdraw up to 50% of the balance for marriage and higher education after the girl turns 18 years or passes Class 10.
• Interest rate:
  • The SSY interest rate is currently set at 8.2% per annum for Quarter 2, 2026-27.
  • The interest rate is reviewed quarterly by the central government.
• Premature closure:
  • The SSY account can be closed prematurely on the grounds of the death of the account holder, medical emergencies or marriage of the girl child after turning 18 years old.
• Tax benefits:
  • Contributions up to ₹1.5 lakh in a financial year qualify for deduction benefits under Section 80C if you choose the Old Tax Regime
  • The interest earned in the account and the maturity proceeds are also tax-free

Using the Canara Bank Sukanya Samriddhi Yojana Calculator

You can use the Sukanya Samriddhi Yojana calculator to estimate the maturity amount you may receive from the scheme. The SSY calculator estimates the maturity amount based on the below given details:

• Annual investment amount
• Year in which you want to start investing
• SSY interest rate

Here is an example calculation using the SSY calculator:

If you want to start investing ₹85,000 annually in an SSY account in 2028, assuming the deposit remains the same and the interest rate is 8.2% p.a., the calculator will show the following results:

• Total amount invested: ₹12.75 lakhs
• Total interest earned: ₹27.9 lakhs
• Estimated maturity amount in 2049: ₹40.7 lakhs

Investment

Secure

Secure your child’s future with or without you

Start Investing

₹10,000/Month

& Get

₹1 Crore^*

VIEW PLANS

*Standard T & C Apply

How to Open a Canara Bank Sukanya Samriddhi Yojana Account?

You can open a Sukanya Samriddhi Yojana account both online (through net banking/mobile banking) and by visiting your nearest Canara Bank branch. Here is the account opening process in offline mode:

• Step 1: Visit the nearest Canara Bank branch and collect the account opening form. You can also download the form from Canara Bank’s official website.
• Step 2: Fill in the application form carefully and attach all the required documents.
• Step 3: Submit the application form along with the minimum deposit amount at the branch.
• Step 4: You will receive a passbook after the account is opened.

Documents Required to Open a Canara Bank Sukanya Samriddhi Yojana Account

The following are the important documents required to open the Sukanya Samriddhi Yojana Canara Bank account:

• SSY account opening form
• Photograph of the parents/legal guardians.
• Birth certificate of the girl child.
• Identity and address proofs of the parents/legal guardians.

Canara Bank Sukanya Samriddhi Yojana Interest Rate

The SSY interest rate for the last 10 years is given in the table below: