Sukanya Samriddhi Yojana : Complete Guide 2026

In a country where daughters are still considered a financial burden by many families, the Government of India launched Sukanya Samriddhi Yojana in 2015 as part of the Beti Bachao, Beti Padhao campaign. This small savings scheme has quietly become one of the most powerful financial tools for parents who want to secure their daughter’s future without worrying about market risks.

Today, more than 3 crore accounts have been opened under this scheme, and the number is growing every month. Parents trust it because the Government of India itself guarantees the capital and pays one of the highest interest rates among all safe investment options.

If you have a girl child below 10 years of age, this scheme can help you build a corpus of ₹60–70 lakh (or more) by the time she turns 21 – completely tax-free. This article explains everything you need to know in simple language.

What is Sukanya Samriddhi Yojana?

Sukanya Samriddhi Yojana (SSY) is a special savings account that parents or legal guardians can open in the name of their girl child. You can open it at any post office or authorized commercial banks across India.

The account runs for 21 years from the date of opening, or until the girl gets married after turning 18 (whichever is earlier). During the first 15 years, you need to deposit money every year. After that, the account keeps earning interest even if you stop depositing.

The best part? The interest rate is announced every quarter by the government and is currently 8.2% per annum (Oct–Dec 2024), which is higher than most fixed deposits and completely tax-free.

Objective of the Scheme

The main goals of Sukanya Samriddhi Yojana are:

• To encourage parents to save for their daughter’s education and marriage
• To reduce financial discrimination against the girl child
• To provide a safe, high-return, government-guaranteed investment option
• To promote financial independence of girls in the long run

Key Highlights of Sukanya Samriddhi Yojana (2024)

Benefits of Sukanya Samriddhi Yojana

1. Highest safe interest rate – 8.2% is much higher than bank FDs or PPF (7.1%).
2. 100% tax-free – Investment up to ₹1.5 lakh qualifies for Section 80C deduction. Interest earned and maturity amount are completely exempt from tax.
3. Government guarantee – Your money is 100% safe as the scheme is backed by Government of India.
4. Long lock-in builds discipline – Forces you to save for 15 years, which creates a big corpus.
5. Flexibility in deposits – You can deposit any amount between ₹250 and ₹1.5 lakh in a year (in multiples of ₹50).
6. Compound interest magic – Even small regular investments grow significantly over 21 years.

Example: If you deposit ₹1.5 lakh every year for 15 years at 8.2%, the maturity amount will be approximately ₹64–68 lakh (depending on exact interest rates in future quarters).

Eligibility Criteria for Sukanya Samriddhi Yojana

You can open an SSY account if:

• The girl child is an Indian resident
• She is below 10 years of age at the time of account opening
• Only parents or legal guardians can open the account
• Maximum two accounts for two girls in one family
• Third account allowed only if twins/triplets are born in the second delivery

Note: The girl must be below 10 years when the account is opened. However, there is a grace period – accounts opened till 31 December 2018 for girls born between 2 Dec 2003 and 1 Dec 2004 were also allowed.

Required Documents

To open Sukanya Samriddhi Yojana account, you need:

• Birth certificate of the girl child
• Photo ID proof of parent/guardian (Aadhaar, PAN, Passport, etc.)
• Address proof of parent/guardian
• Photograph of girl child and parent/guardian
• If guardian is operating: Guardianship certificate (in case parents are not alive)

How to Apply Online for Sukanya Samriddhi Yojana (2024)

Unfortunately, you cannot open SSY account completely online yet. You have to visit a post office or bank branch. However, many banks now allow online fund transfer to existing SSY accounts through net banking.

Step-by-step process to open SSY account:

1. Visit nearest post office or authorized bank (SBI, PNB, ICICI, Axis, HDFC, etc.)
2. Ask for Sukanya Samriddhi Yojana Account Opening Form (Form SSY-1)
3. Fill the form carefully
4. Attach required documents
5. Make initial deposit (minimum ₹250) in cash/cheque
6. Submit the form
7. You will get the SSY passbook immediately or within a few days

After opening, you can link the account with your bank for online transfers.

How to Check Sukanya Samriddhi Yojana Status Online

You can check balance and transactions in three ways:

1. India Post Internet Banking (if opened at post office)
   • Register at https://ebanking.ippbonline.com
   • Log in and check SSY account balance
2. Bank Internet Banking / Mobile App (if opened at bank)
   • Most banks show SSY account in your net banking dashboard
3. Visit branch or post office with passbook

There is no separate portal to check Sukanya Samriddhi Yojana status online for all accounts.

Important Dates and Deadlines

• Account must be opened before the girl turns 10
• Deposits must be made for first 15 years
• Interest is credited every year on 31st March
• Partial withdrawal allowed after girl attains 18 years
• Full maturity after 21 years or on marriage after 18

Official Website Details

There is no dedicated separate website for Sukanya Samriddhi Yojana. Information is available on:

• India Post official website
• Ministry of Finance website
• National Savings Institute website

Common Mistakes to Avoid

1. Opening account after girl turns 10 (not allowed)
2. Depositing more than ₹1.5 lakh in a year (excess amount will not earn interest)
3. Forgetting to deposit minimum ₹250 in a year (account becomes irregular – ₹50 penalty to regularize)
4. Closing account before maturity without valid reason (forfeits higher interest rate)
5. Not updating KYC documents when girl turns 18

FAQs – Sukanya Samriddhi Yojana

1. Can I open Sukanya Samriddhi account after girl turns 10?
   No. The girl must be below 10 years when the account is opened.
2. What happens if I deposit less than ₹250 in a year?
   The account becomes irregular. You can regularize it by paying ₹50 penalty per year.
3. Is Sukanya Samriddhi better than PPF?
   Yes for girl child – higher interest rate (8.2% vs 7.1%) and full tax exemption.
4. Can NRI parents open SSY account?
   Yes, but the girl must be resident Indian citizen. Account will have to be closed if she becomes NRI later.
5. Can I transfer SSY account from post office to bank?
   Yes, transfer is allowed free of cost anywhere in India.
6. What is the interest rate for Jan–Mar 2025?
   Not announced yet. Usually announced in last week of December.
7. Can grandmother open SSY account?
   No. Only parents or legal guardian can open and operate till girl turns 18.

Conclusion

Sukanya Samriddhi Yojana remains one of the best government schemes for parents who want to secure their daughter’s future. With 8.2% tax-free returns, sovereign guarantee, and long-term compounding, it beats almost every other safe investment option available today.

Start early, deposit regularly, and watch a small monthly investment grow into a substantial corpus for your daughter’s higher education or marriage.