Sukanya Samriddhi Yojana (SSY): Empowering Girls for a Brighter Tomorrow

Sukanya Samridhi Yojana (SSY) Scheme Account: Calculator, Features, Interest Rate

The Sukanya Samriddhi Yojana is a government-backed initiative in India that aims to empower girls and secure their futures. Launched under the "Beti Bachao, Beti Padhao" campaign, this scheme provides financial assistance to families for the education and marriage expenses of their daughters. By investing in the Sukanya Samriddhi Yojana, parents can ensure a bright and prosperous future for their girls.

Table of Contents
sukanya samriddhi yojana, sukanya samriddhi scheme, sukanya samriddhi yojana calculator, sukanya samriddhi account, sukanya samriddhi yojana form, ssy calculator, sukanya samriddhi yojana interest rate, sukanya samriddhi yojana details, sukanya samriddhi yojana post office, samruddhi yojana, sukanya calculator, sukanya yojana scheme, pradhanmantri sukanya yojna, sukanya samriddhi interest rate, sukanya samriddhi yojana account, ssy interest rate, sukanya samriddhi scheme details, ssy scheme
Sukanya samriddhi yojana (ssy) details, features, interest rate, tax benefits, calculator

Sukanya Samriddhi Yojana (SSY): Empowering Girls for a Brighter Tomorrow

Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme for the girl child in India. It was launched in 2015 as a part of the Beti Bachao Beti Padhao campaign. Parents or guardians can invest in the scheme on behalf of a girl child until she reaches 10 years of age. The scheme offers a high-interest rate and tax benefits, making it an attractive investment option. The money invested in the scheme can only be withdrawn once the girl child turns 18 and can be used for her higher education or marriage expenses.

Benefits of Sukanya Samriddhi Yojana (SSY)

The Sukanya Samriddhi Yojana offers numerous benefits to families who participate in the scheme. Firstly, it serves as a long-term investment plan for a child's future. The funds deposited in the account grow at an attractive interest rate, ensuring substantial returns over time. Additionally, the scheme provides tax benefits, making it an even more lucrative investment option for parents.

Sukanya Samriddhi Account: Eligibility Criteria and Features

To open a Sukanya Samriddhi Account, certain eligibility criteria must be met as follows. The scheme offers a higher interest rate than many other savings schemes, tax benefits, and a maturity period of 21 years from the date of account opening. Withdrawals are permitted only after the girl child turns 18.

Eligibility Criteria for SSY

To open a Sukanya Samriddhi Account, certain eligibility criteria must be met. According to the rules, the following baby children are eligible to open a Sukanya Samridhi Yojana account:

  1. The age of the girl child should not exceed 10 years.
  2. She should be a resident citizen of India.
  3. The account can not be opened for more than two girl children in a single family.

Exception:- if the first birth is one girl child and the second birth of twin girl children then the account is open for three girl children.

Which Document is Needed for SSY Account?

To open a Sukanya Samriddhi Account following Documents need for the SSY account are below

  • Girl Child Birth certificate
  • 2 Girl passport size photo
  • Depositor AddharCard
  • Depositor PanCard
  • Depositor 2 Passport size photo
  • Sukanya Samriddhi Account (SSY) Passbooks will be issued to customers as bank account passbooks.

    Note: Depositor means Mother or father which one gets a tax benefit.

    Sukanya Samriddhi Yojana (SSY) Tenure of deposit

    Deposits in an account can be made till completion 14 years, from the date of opening of the account. The account shall mature on completion of 21 years from the date of opening of the account. The marriage of the account holder takes place before the completion of such period of 21 years, the operation of the account shall not be permitted beyond the date of her marriage. SSY permitted before girl child marriage Because the aim of SSY is complete girl Higher Education and Marriage finance.

    Minimum Deposit in SSY?

    Minimum ₹250 of initial deposit with multiple of ₹100 thereafter with an annual ceiling of Rs.1,50,000 in a financial year.

  • The minimum Deposit is ₹250 and must be deposited in a Financial year.
  • The maximum Deposit is ₹1,50,000 in a financial year.
  • Sukanya Samriddhi Account (SSY) Features

  • Saving Scheme for girl's higher education and marriage financial support
  • Highest interest rate % among the other all government scheme
  • The investment will be no tax on the amount invested, the amount earned as interest and the amount withdrawn.
  • Sukanya Samriddhi Account (SSY) Withdrawal options

    Account holders can withdraw SSY in two withdrawal option facilities after attaining 18 years of age. First offers partial withdrawals of up to 50% of the account balance lying in the account as at the end of the previous financial year when a girl turns 18 years old. This can be used for the below purpose.

    1. higher education and
    2. marriage

    Example: if you want to withdraw after the girl child age is 18 or 18+ after March 2019 then you can withdraw 50% of the balance lying in the account as at the end of the previous financial year 2018-2019 (April 2018 to March 2019).

    Another option is to make a full withdrawal after the child turns 21 years old. The account can also be closed prematurely in the case of the death of the account holder.

    Sukanya Samriddhi Yojana (SSY) Account Closure

    The Sukanya Samriddhi Yojana (SSY) account can be closed and There are two-way sanctions for the closure of the account authorised by the Central Government below.

  • If the beneficiary is married before the maturity of the account
  • and
  • If the accountholder’s (girl) death or for the treatment of life-threatening diseases
  • The account can also be closed in case of the unfortunate demise of the account holder. To close the account, the account holder or the legal heir needs to submit a written application along with the account passbook and proof of identification and address. The balance amount, including the interest earned, will be paid to the account holder or legal heir upon account closure.

    Step-by-Step Guide to Opening a Sukanya Samriddhi Account

    Opening a Sukanya Samriddhi Account is a straightforward process. Here's a step-by-step guide to help you get started:

    1. Visit your nearest authorized bank or post office that offers the scheme.
    2. Fill out the account opening form, providing all the necessary details.
    3. Submit the required documents, including proof of identity, address, and the girl child's birth certificate.
    4. Make the initial deposit as per the scheme's minimum requirement.
    5. Once the account is opened, you will receive a passbook to track the transactions and monitor the account's growth.
    Click Here for all forms for SSY

    Sukanya Samriddhi Yojana (SSY) calculator

    Yearly deposit in SSY
    SSY Interest Rate in %
    Deposit Add per
    Deposit Period (Years) 15 Years
    Maturity Value
    Total Investment
    Interest earn

    How to use the Sukanya Samriddhi Yojana (SSY) Calculator

    Using the National Pension Scheme calculator is easy and straightforward. Investors need to follow the below steps:

    1. Visit the above calculator.
    2. Enter Yearly deposit in SSY, Current Sukanya Samriddhi Yojana (SSY) Interest Rate in %, Deposit Add per, Deposit Period (Years).
    3. Click on the submit button.
    4. The calculator will display the withdrawal amount and the monthly pension amount.

    Sukanya Samriddhi Yojana Interest Rate and Tax Benefits

    The Sukanya Samriddhi Yojana offers a competitive interest rate, which is revised annually by the government. As of 2021, the interest rate stands at 7.6%, making it an attractive investment avenue. Moreover, the scheme provides tax benefits under Section 80C of the Income Tax Act. The deposits made in the account, as well as the interest earned, are exempted from tax. This further enhances the overall returns and makes the Sukanya Samriddhi Yojana a tax-efficient investment option.

    Interest Rate of Sukanya Samriddhi Yojana (SSY) in All financial year

    Serial Number Financial Year Date Range Interest Rate Minimum Investment Maximum Investment
    1 2014-15 1 April 2014 to 31 March 2015 9.1% 1,000 1,50,000
    2 2015-16 1 April 2015 to 31 March 2016 9.2% 1,000 1,50,000
    3 2016-17 1 April 2016 to 30 Sep 2016 8.6% 1,000 1,50,000
    4 2016-17 1 Oct 2016 to 31 Mar 2017 8.5% 1,000 1,50,000
    5 2017-18 1 April 2017 to 30 June 2017 8.4% 1,000 1,50,000
    6 2017-18 1 July 2017 to 31 December 2017 8.3% 1,000 1,50,000
    7 2017-18 1 January 2018 to 31 March 2018 8.1% 1,000 1,50,000
    8 2018-19 1 April 2018 to 30 September 2018 8.1% 250 1,50,000
    9 2018-19 1 October 2018 to 31 March 2019 8.5% 250 1,50,000
    10 2019-20 1 April 2019 to 30 June 2019 8.5% 250 1,50,000
    11 2019-20 1 July 2019 to 31 March 2020 8.4% 250 1,50,000
    12 2020-21 1 April 2020 to 30 September 2020 7.6% 250 1,50,000

    Sukanya Samriddhi Yojana (SSY) Tax Benefits

    Contributions to an SSY account are eligible for tax deductions under Section 80C of the Income Tax Act,, 1961. In the latest Finance Bill, the scheme has been extended Triple exemption (EEE) benefits and interest earned on the scheme is tax-free. Additionally, withdrawals made at maturity or for the purpose of marriage are exempt from tax. These benefits make SSY a popular choice for parents looking to invest in their daughters' future education and marriage expenses.

    Triple exemption (EEE) are the following:
    • No tax on the amount invested
    • The amounts earned as interest
    • The amount is withdrawn.

    Comparing Sukanya Samriddhi Yojana with Other Investment Options

    While the Sukanya Samriddhi Yojana is an excellent investment option, it's essential to compare it with other available alternatives. Mutual funds, for instance, offer the potential for higher returns but come with market risks. Fixed deposits, on the other hand, provide stability but may offer lower interest rates. By assessing the pros and cons of each investment option, parents can make an informed decision that aligns with their financial objectives and risk appetite.


    In conclusion, the Sukanya Samriddhi Yojana is a game-changer when it comes to securing a bright future for girls in India. By investing in this scheme, parents can empower their daughters and provide them with the financial support they need to pursue their dreams. The scheme's attractive interest rate, tax benefits, and government-backed security make it a compelling choice for long-term savings. So, let's take advantage of the Sukanya Samriddhi Yojana and contribute towards building a brighter tomorrow for our girls.

    Frequently Asked Questions (FAQs) about Sukanya Samriddhi Yojana (SSY)

    What if the account is discontinuous?

    If the minimum amount of ₹250/- is not deposited in any financial year then the account is discontinued. A penalty of Rs 50/- will be charged + Arrears for years of default.

    Example:- if the account is discontinued in the 2015 financial year (March 2014 - April 2015) and wants to reopen in the 2019 financial year (March 2018 - April 2019) then A penalty is (4 × ₹50 = ₹200) and ₹50 charges so that total charges is ₹250.

    Account holder transfer SSY account?

    Yes, the account holder can transfer the account from any bank/post office to the post office/bank in all of India.

    Post a Comment

    © Moneytant. All rights reserved. Developed by Jago Desain