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List of Banks Offering Sukanya Samriddhi Yojana
The Sukanya Samriddhi Yojana is a savings scheme regulated by the government of India for the well-being of a girl child. Anyone who wishes to open a Sukanya Samriddhi Yojana account can do so with any authorized bank in India. The banks in India have been given authority by the Indian government to open the Sukanya Samriddhi Yojana account with a minimum deposit sum of Rs.250.
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Sukanya Samriddhi Yojana
- List of Banks Offering Sukanya Samriddhi Yojana
Overview of the Sukanya Samriddhi Yojana
The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme launched in 2015 as part of the “Beti Bachao, Beti Padhao” initiative to support the financial security and future of the girl child in India. The scheme allows parents or guardians to open an account for a girl child below 10 years of age at any designated bank or post office, with a minimum deposit of just ₹250. SSY offers a high interest rate currently 8.2% per annum, which is reviewed quarterly and is among the highest for small savings schemes
**Note: Tax benefit is subject to changes in tax laws.
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
*for market linked plans only
List of Banks Offering Sukanya Samriddhi Yojana
Listed below are the names of the banks that offer the Sukanya Samriddhi Yojana to all eligible individuals:
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State Bank of India
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Bank of Maharashtra
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ICICI Bank
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Punjab National Bank
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Indian Overseas Bank
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Bank of Baroda
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UCO Bank
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Central Bank of India
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Canara Bank
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Axis Bank
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Union Bank of India
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Indian Bank
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Punjab and Sind Bank
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IDBI Bank
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Bank of India
How to Open the Sukanya Samriddhi Yojana Account?
Anyone who wishes to benefit from the Sukanya Samriddhi Yojana scheme needs to open an account in the name of a girl child. The Sukanya Samriddhi Yojana account can be opened with authorized banks or post offices with 2 methods.
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Offline:
Anyone who is taking the offline route needs to visit the branch physically to open the SSY account. Once at the branch, fill in the Sukanya Samriddhi Yojana scheme application. Submit the form with all relevant documents and deposit. Once the form and attached documents are verified by the bank, the SSY account will be opened.
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Online:
Opening an account at a bank branch:
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Visit any authorized bank branch or post office offering SSY accounts.
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Collect and fill out the SSY account opening form.
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Submit the required documents along with the form and a photograph. These documents typically include:
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SSY Account Opening Form
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Birth certificate of the girl child
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Identity proof and residence proof of the guardian (as per KYC guidelines)
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Make the initial deposit (minimum Rs. 250, maximum Rs. 1.5 lakh in a financial year).
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You can manage the SSY account online through the bank's website.
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Eligibility Criteria to Open a Sukanya Samriddhi Yojana Account
To open a Sukanya Samriddhi Yojana (SSY) account at any authorized bank or post office, the following eligibility criteria must be met:
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Only parents or legal guardians of a girl child can open an SSY account.
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The girl child must be below 10 years of age at the time of account opening.
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The girl child must be an Indian citizen and resident in India.
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Only one SSY account can be opened in the name of a girl child.
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A maximum of two SSY accounts are allowed per family (one for each girl child). Exceptions are made for twins or triplets, where up to three accounts may be permitted with proper documentation.
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An initial deposit of at least ₹250 is required to open and maintain the account.
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Compulsory Documents: Birth certificate of the girl child, KYC documents (identity and address proof) of the parent or guardian, SSY account opening application form
Documents Required to Open the Sukanya Samriddhi Yojana Account
The following documents are required to open the Sukanya Samriddhi Yojana account:
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The duly filled application form
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The certificate of birth of the beneficiary (girl child)
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An address of evidence and identity for the parent/ guardian
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The passport-size photographs
Important Points About Sukanya Samriddhi Yojana
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Attractive interest rates (currently 8.2% as of January-March 2026).
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Deposits qualify for deductions under Section 80C of the Income Tax Act, and the interest earned is tax-free.
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21 years from opening or upon marriage after the girl turns 18 (whichever is earlier).
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Serves long-term investment objectives with the power of compounding.
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Being a government-backed scheme, it is safe and offers guaranteed returns.
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It can be transferred from one post office/ bank to any other within the country.
Banks Offering SSY
SSY Calculators
Indian Overseas Bank Sukanya Samriddhi Yojana
IndusInd Bank Sukanya Samriddhi Yojana
Yes Bank Sukanya Samriddhi Yojana
Bank of India Sukanya Samridhi Yojana
Kotak Bank Sukanya Samriddhi Account
Bank of Maharashtra Sukanya Samriddhi Yojana
Andhra Bank Sukanya Samriddhi Account
UCO Bank Sukanya Samriddhi Yojana
Expand
Indian Bank- Sukanya Samriddhi Yojana Calculator
Sukanya Samriddhi Yojana- Central Bank of India Calculator
Canara Bank- Sukanya Samriddhi Yojana Calculator
Bank of Maharashtra- Sukanya Yojana Calculator
Sukanya Samriddhi Yojana Calculator Bank of India
Sukanya Samriddhi Yojana Calculator - Union Bank
Sukanya Samriddhi Yojana Calculator-UCO Bank
Sukanya Samriddhi Yojana Calculator - State Bank of India
Expand
Conclusion
Anyone who has a daughter should start planning for their future by investing in the Sukanya Samriddhi Yojana savings scheme. This savings scheme will not only let one earn guaranteed returns but also create a tax-efficient corpus to fund the higher education or any other expenses of the daughter without any financial strain.
FAQs
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Can I open a Sukanya Samriddhi Yojana account at any bank branch?
You can open an SSY account at any authorized branch of participating banks or at any post office. Not all banks are authorized, so check the official list before visiting. -
Is it necessary to have a savings account in the bank to open an SSY account?
No, you don’t need an existing savings account with the bank. You can open an SSY account at any authorized bank or post office by submitting the required documents -
What is the current interest rate offered on SSY accounts by these banks?
As of 2026, authorized banks offer an interest rate of 8.2% per annum on Sukanya Samriddhi Yojana accounts, compounded annually. -
What if I deposit more than 1.5 lakh in Sukanya Samriddhi Yojana?
Deposits exceeding Rs. 1.5 lakh in a year are not allowed in the Sukanya Samriddhi Yojana scheme. You can contribute a maximum of Rs. 1.5 lakh per year. If you wish to deposit more, you must open separate accounts for the girl child. -
What is a 65 lakh scheme for a girl child?
There isn't actually a specific 65 lakh scheme for girl child.However, the Sukanya Samriddhi Yojana (SSY) can help you accumulate a significant amount for your daughter's future, potentially reaching Rs. 65 lakh or more depending on factors like investment amount and interest rates. It's a government-backed savings scheme designed for girl children's education and marriage expenses.
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Is Sukanya tax-free?
Yes, the Sukanya Samriddhi Yojana offers multiple tax benefits:-
Investments qualify for deduction under Section 80C (up to Rs. 1.5 lakh).
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Interest earned on the deposit is tax-free.
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The maturity amount (including principal and interest) is tax-free.
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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.
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^^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.