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.
- Level
- Central scheme
- Category
- Financial Assistance, Women & Child
- Benefit
- High-interest, fully tax-free savings account for a girl child; rate set quarterly by the government
Who is eligible?
- 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.
What you get
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.
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.
Documents needed
- Girl child's birth certificate
- Guardian's ID and address proof
- Passport-size photograph
Source: India Post (indiapost.gov.in), Ministry of Finance — National Savings Institute. Facts pending re-verification against the official source — confirm details there before applying.