Sukanya Samriddhi Yojana

What is Sukanya Samriddhi Yojana?

Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme designed to secure the financial future of the girl child in India. Launched under the “Beti Bachao, Beti Padhao” initiative, it encourages parents to build a fund for their daughter’s education and marriage.

Sukanya Samriddhi Account Scheme:

• 1. Minimum deposit ₹ 250/- Maximum deposit ₹ 1.5 Lakh in a financial year.
• 2. Account can be opened in the name of a girl child till she attains the age of 10 years.
• 3. Only one account can be opened in the name of a girl child.
• 4. Account can be opened in Post Offices and in authorised banks.
• 5. Withdrawal shall be allowed for the purpose of higher education of the account holder to meet education expenses.
• 6. The account can be prematurely closed in case of marriage of the girl child after she attains the age of 18 years.
• 7. The account can be transferred anywhere in India from one Post Office/Bank to another.
• 8. The account shall mature on completion of a period of 21 years from the date of opening.
• 9. Deposit qualifies for deduction under Section 80-C of the Income Tax Act.
• 10. Interest earned in the account is free from Income Tax under Section 10 of the Income Tax Act.