Sukanya Samriddhi Yojana (SSY)
A high-interest, fully tax-free government savings account for a girl child below 10, with deposits of ₹250 to ₹1.5 lakh per year.
Key facts
| Interest rate | 8.2% p.a. (Apr–Jun 2026 quarter), compounded annually |
|---|---|
| Deposit range | ₹250 to ₹1.5 lakh per year |
| Who | A girl child below 10 (maximum two daughters per family) |
| Deposit period / maturity | Deposit for 15 years; matures 21 years after opening |
| Tax | EEE — Section 80C deduction, tax-free interest and maturity |
| Where to open | Any post office or authorised bank |
Benefits
Deposits earn one of the highest interest rates among government small-savings schemes, compounded annually and revised every quarter. You can invest ₹250 to ₹1.5 lakh per year; deposits qualify for the Section 80C deduction, and both the interest and the maturity amount are completely tax-free. The account matures 21 years after opening, with partial withdrawal allowed for higher education once the girl turns 18.
Who can apply
- Age up to 9
- Women / girls only
A parent or legal guardian can open one account in the name of a girl child below 10 years of age. Each girl can have only one account, and a family can open accounts for at most two daughters — twins or triplets being the exception.
How to apply
Open the account at any post office or authorised bank branch with the girl's birth certificate, the guardian's ID and address proof, and a minimum deposit of ₹250. Many banks also allow opening and topping up the account through net banking.
- Visit any post office or authorised bank branch.
- Fill the SSY account-opening form and submit the girl’s birth certificate, the guardian’s ID and address proof, and a passport-size photograph.
- Make the opening deposit of at least ₹250 to activate the account.
- Add up to ₹1.5 lakh per financial year; many banks allow deposits through net banking or their app.
- Once the girl turns 18, up to 50% of the balance can be withdrawn for her higher education.
Documents required
- Girl child's birth certificate
- Guardian's ID and address proof
- Passport-size photograph
Common problems and how to fix them
| Problem | What to do |
|---|---|
| Missed the yearly minimum deposit | The account goes into default. Revive it by paying a ₹50 penalty plus the ₹250 minimum for each missed year. |
| The girl is older than 10 | The account must be opened before she turns 10 — it cannot be opened after that. |
| Want a third account | Allowed only for twins or triplets; otherwise a family can open accounts for at most two daughters. |
| Moving city / changing branch | SSY accounts are transferable between post offices and banks at no cost — request the transfer at your current branch. |
Frequently asked questions
Is the maturity amount really tax-free?
Yes — SSY has EEE status: the deposit (80C), the interest, and the maturity amount are all tax-exempt.
Can the girl operate the account herself?
Yes, once she turns 18 she can operate the account.
What if I move to another city?
The account is transferable between post offices and banks at no cost.
Always confirm the latest details on the official portal before applying.
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