All about Sukanya samriddhi scheme


All about Sukanya samriddhi scheme



Sukanya samriddhi scheme was launched by Indian government in 2015 with an aim to encourage girl education, it encourages parents to deposit amount for girl child’s future education and marriage expenses. The account fetches a high interest rate of 7.6%, that too tax free. Even a person can take a deduction under section 80C every financial year to the extent investment made in this account( max 105 lakhs) . And even at the time of maturity no tax is applicable, it’s fully exempt.



  • The account can be opened by the biological parents or the guardian for the girl child. One account per child is allowed and Max two child are allowed. In case of twins and triplets up to 3 account can be opened.
  • The account should be opened before the girl child attains the age of 10.


Amount of Investment allowed

In initial stage of opening the account minimum investment of RS 250 is to be made, maximum it can be 1.5 lakh per financial year. Thereafter, any amount in multiples of Rs 100 can be deposited. If the minimum deposit of ₹250 is not made in a year, a fine of ₹50 will be put on.



Investment should be made every year continuously for 15 years from the date of opening of account. The account will mature after 21 years of the date of opening, after such date no interest will be credited. A request for final closure of account before maturity can be made by the assessee or the girl child for the marriage of the child, but an age proof has to be submitted showing that the child is not below 18.

Provided that no such premature closure shall be made before one month preceding the date of the marriage or after three months from the date of such marriage.

On maturity, the balance including interest outstanding in the Account shall be payable to the Account holder, on an application by the Account holder for closure of the Account, and on furnishing documentary proof of her identity, residence and citizenship.

 Withdrawn will only be allowed to the extent of 50% of the amount present in account in previous financial year once the girl child attains age of 18 for education or marriage of the girl child.


How to know the balance in account

There are two modes to check the balance first is offline and second is online mode.

Offline mode– There are various Banks providing the facility to open Sukanya samriddhi account and they provide a passbook to know the details of account. You can get the passbook updated by visiting the bank’s branch.

Online mode – the balance in the Sukanya account can also be checked online using the internet banking facility provided by the bank. All you need is to collect login information for SSY account from your bank. Login to the account and check the balance


How to open Sukanya samriddhi account

There are various banks providing the facility to open SSY account. You can approach any of such bank or post office and ask for opening SSY account as no online facility has been started for opening such account till now. But yes, after opening such account you can access it or you can give standing instructions for transfer of money to this account.

Steps are: –

  1. You need to fill out the SSY Account opening form.
  2. Keep the documents ready along with photographs. Documents required are as follows-
  • Beneficiary’s birth certificate
  • Address proof of the guardian or parents of the beneficiary
  • Id proof of the guardian or parents of the beneficiary.
  1. Pay the deposit amount (any amount between Rs. 250 and Rs. …
  2. You can give a standing instruction at the branch or you can set up automatic credit to SSY Account through Net Banking.


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