SBI Sukanya Samriddhi Yojana

Features and Benefits of SBI Sukanya Samriddhi Yojana

The key features and benefits of the Sukanya Samriddhi Yojana are as follows:

• Eligibility:
  • The SSY account can be opened by parents or legal guardians for a girl child below 10 years of age.
  • Only one account per girl child is allowed.
  • Parents or legal guardians must operate the account till the girl child reaches 18 years of age; thereafter the girl can operate the account by herself.
  • A family can open accounts for a maximum of two daughters
  • NRIs are not eligible for account opening.
• Where to Open:
  • Available at all SBI branches in India
• Tenure:
  • Account matures after 21 years; can be prematurely closed in case of the marriage of the girl child upon turning 18.
• Deposits:
  • Minimum deposit: ₹250 per year.
  • Maximum deposit: ₹1.5 lakh per year.
  • Deposits can be made via cash, cheque, demand drafts, or online net banking transfers.
• Tax Benefits and Interest Rate:
  • Provides an attractive interest rate of 8.2% per annum (Quarter 2, 2026-27).
  • Tax benefits on deposits of up to ₹1.5 lakh per year under Section 80C under the Old Tax Regime.
  • Interest earned is also tax-free under Section 10 of the Income Tax Act
    Investment

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• Partial Withdrawal:
  • Up to 50% of the balance can be withdrawn when the girl turns 18, for education or marriage purposes.
• Account Continuity:
  • Deposit at least ₹250 each year to keep the account active.
  • In case deactivated, the SSY account can be activated by paying a ₹50 penalty and a deposit amount for each missed year.

Using the Sukanya Samriddhi Yojana Calculator

The Sukanya Samriddhi Yojana calculator is an online tool that helps you calculate the interest earned and the maturity amount on the investments made in the SSY account. The calculator takes into account the following factors:

• Amount invested every year
• Age of the girl child
• Starting year of the investment
• Interest rate (auto-filled)

To use the SSY calculator, simply enter the above-mentioned details and the calculator will show the following results:

• Total investment
• Interest earned
• Maturity year and maturity value

Here is an example calculation:

If you start investing ₹10,000 per year in the SBI Sukanya Samriddhi Yojana account for a girl child who is 5 years old in 2026, assuming the current interest rate of 8.2% per annum, the calculator will display the following results:

• Maturity year: 2047
• Total amount invested: ₹1.5 lakh
• Interest earned: ₹3.3 lakhs
• Maturity value: ₹4.8 lakhs

How to Open an SBI Sukanya Samriddhi Yojana Account?

You can follow the steps mentioned below to apply for the SBI Sukanya Samriddhi Yojana Account:

• Visit SBI Branch: Go to your nearest SBI branch.
• Fill out the SSY Form: Collect the SSY application form from the branch staff and fill out the details carefully.
• Submit Required Documents: Attach required documents such as the girl child’s birth certificate, your ID, address proof, and passport-sized photos.
• Make Initial Deposit: Deposit a minimum of ₹250 or more, as per your preference.
• Account Opening Confirmation: Once processed, you’ll receive a passbook.

Documents Required to Open an SBI Sukanya Samriddhi Yojana Account

Here is a list of documents required for the Sukanya Samriddhi Yojana account opening at SBI:

• Girl child's birth certificate
• Application Form-1
• Passport-sized photographs
• ID proof of the parent/legal guardian such as Aadhar Card and Pan Card.
• Address proof of parent/legal guardian

SBI Sukanya Samriddhi Yojana Historical Interest Rate

The Sukanya Samriddhi Yojana interest rate over 10-year period is shown in the table below:

Wrapping It Up

The SBI Sukanya Samriddhi Yojana stands out as one of the best child plans for a girl, offering secure and government-backed savings options. It offers high interest rates, flexible deposits, and significant tax advantages. Its long-term structure and guaranteed returns ensure peace of mind for parents, while the scheme’s benefits directly support the educational and financial empowerment of girls.