Sukanya Samriddhi Yojana income tax exemption is one of the most powerful tax-saving benefits for parents of a girl child in India. It offers the Sukanya Samriddhi Yojana deduction in income tax under Section 80C, along with full maturity tax-free status. Many parents look for the Sukanya Samriddhi Yojana income tax benefits as it provides safe, long-term savings with guaranteed returns.
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Invest ₹10k/month your child will get ₹1 Cr# Tax-Free*
Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme launched under the Beti Bachao Beti Padhao initiative. It is designed for the financial security and education of a girl child.
| Criteria | Details |
| Who can open | Parents or legal guardian |
| Girl child age | Below 10 years |
| Residency | Only Indian residents |
| Accounts allowed | Maximum 2 girls per family (exception for twins/triplets) |
| Feature | Details |
| Minimum deposit | ₹250 per year |
| Maximum deposit | ₹1.5 lakh per year |
| Tenure | 15 years of contribution, maturity at 21 years |
| Interest rate for 2026 | 8.2% per annum (quarterly revised by the Govt.) |
*Interest is declared by the Government of India and may change every quarter.
SSY is one of the rare EEE tax-free schemes in India.
| Stage | Tax Status |
| Investment | Eligible for Section 80C deduction |
| Interest earned | Fully tax-free |
| Maturity amount | Fully tax-free |
SSY uses compound interest, which helps money grow faster over time.
| Yearly Investment | Interest Rate | Tenure | Estimated Maturity Value | Tax Benefits |
| ₹25,000 | 8.2% | 21 years | ₹11.54 lakh | ₹25,000 eligible under Section 80C deduction; interest is tax-free; maturity amount is tax-free |
| ₹50,000 | 8.2% | 21 years | ₹23.09 lakh | ₹50,000 eligible under Section 80C deduction; interest is tax-free; maturity amount is tax-free |
| ₹1,00,000 | 8.2% | 21 years | ₹46.18 lakh | ₹1,00,000 eligible under Section 80C deduction; interest is tax-free; maturity amount is tax-free |
| ₹1,50,000 (max) | 8.2% | 21 years | ₹69.27 lakh | Full ₹1.5 lakh eligible under Section 80C deduction; interest is tax-free; maturity amount is tax-free |
Here are the key steps to understand how to open the SSY account online in Post Office or authorised banks:
Indian Overseas Bank Sukanya Samriddhi Yojana
IndusInd Bank Sukanya Samriddhi Yojana
Yes Bank Sukanya Samriddhi Yojana
Bank of India Sukanya Samriddhi Yojana
Kotak Bank Sukanya Samriddhi Account
Bank of Maharashtra Sukanya Samriddhi Yojana
Andhra Bank Sukanya Samriddhi Account
UCO Bank Sukanya Samriddhi Yojana
IDBI Bank Sukanya Samriddhi Yojana
Allahabad Bank Sukanya Samriddhi Yojana
Central Bank of India Sukanya Samriddhi Yojana
Indian Bank Sukanya Samriddhi Yojana
Union Bank of India Sukanya Samriddhi Yojana
Axis Bank SSY (Sukanya Samriddhi Yojana)
Canara Bank Sukanya Samriddhi Yojana
PNB Bank SSY (Sukanya Samriddhi Yojana)
Bank of Baroda Sukanya Samriddhi Yojana
ICICI Bank Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana HDFC
SBI Sukanya Samriddhi Yojana
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
Sukanya Samriddhi Yojana Calculator – Punjab National Bank
Sukanya Samriddhi Yojana Calculator - Indian Overseas Bank
Sukanya Samriddhi Yojana Calculator - Bank of Baroda
Sukanya Samriddhi Yojana Calculator ICICI
Allowed only in special cases like:
| Feature | SSY | PPF | ELSS |
| Risk | Low | Low | High |
| Returns | Fixed Govt rate | Fixed Govt rate | Market linked |
| Tax benefit | EEE | EEE | EEE (partial) |
| Lock-in | High | Medium | 3 years |
| Suitability | Girl child goal | Retirement | Wealth creation |
SSY offers fixed, secure returns backed by the Government of India, ensuring your money grows without any market risk.
Sukanya Samriddhi Yojana income tax benefit includes Section 80C deduction, and both interest and maturity amount are completely tax-free.
With a long tenure of 21 years and compounding interest, SSY helps build a large, stable fund for a girl child’s future.
SSY supports rising education expenses by building a strong corpus over time.
It is not linked to market fluctuations, so returns remain stable and fully protected.
Sukanya Samriddhi Yojana is one of the strongest tax-saving and long-term investment schemes in India. The Sukanya Samriddhi Yojana income tax benefit makes it highly attractive because it offers full exemption at every stage, i.e. investment, interest, and maturity.
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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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