For every parent, nurturing their daughter’s dreams and securing their future is a paramount concern. The Sukanya Samridhi Yojana (SSY), a government-backed initiative, offers a valuable tool to achieve this goal. This blog delves into the key features, benefits, and eligibility of SSY, empowering Indian audiences to make informed decisions about their daughter’s financial well-being.

Understanding Sukanya Samridhi Yojana:

Launched in 2015, SSY is a government savings scheme specifically designed for girl children below 10 years of age. It encourages parents and guardians to invest regularly, providing a secure and attractive avenue for long-term financial planning for their daughters.

Key Features:

  • Minimum and Maximum Account Opening Age: The account can be opened at any time between the birth of the girl child and before she turns 10 years old.
  • Minimum and Maximum Deposit: A minimum of Rs. 250 must be deposited annually, with a maximum annual deposit limit of Rs. 1.5 Lacs.
  • Interest Rate: Currently, SSY offers an attractive interest rate of 7.6% per annum, compounded annually. This rate is higher than most traditional savings schemes, offering accelerated growth potential.
  • Tax Benefits: Deposits made towards SSY qualify for tax deductions under Section 80C of the Income Tax Act, 1961. Additionally, the interest earned and maturity amount are tax-free, making it a tax-efficient investment option.
  • Account Maturity: The account matures when the girl child attains 21 years of age or gets married after attaining 18 years of age, whichever is earlier.
  • Premature Withdrawal: Partial withdrawal is allowed for specific purposes like the girl child’s higher education or medical treatment after she turns 18 years old.

Benefits of Sukanya Samridhi Yojana:

  • Secure Investment: Backed by the government, SSY offers a safe and reliable investment option with guaranteed returns.
  • Attractive Interest Rate: The high interest rate allows for significant wealth accumulation over the long term, empowering girls to pursue their aspirations.
  • Tax Benefits: Tax deductions and exemptions make SSY a tax-efficient investment, maximizing returns for the investor.
  • Financial Independence: The accumulated funds at maturity provide girls with a strong financial foundation, empowering them to pursue their goals and dreams.
  • Empowering Girl Children: By promoting girl child education and financial security, SSY contributes to gender equality and social development.


  • The account can be opened for any girl child who is a resident of India and below 10 years of age.
  • Only one SSY account can be opened for each girl child.
  • The account can be opened by a parent or legal guardian in any post office or authorized bank branch.

Opening an Account:

  • Required documents include the birth certificate of the girl child, identity and address proof of the parent/guardian, and a photograph of the girl child.
  • The initial deposit of at least Rs. 250 is required at the time of account opening.
  • Subsequent deposits can be made through cash, cheque, or online transfer.

Important Considerations:

  • While SSY offers attractive benefits, it is crucial to understand the lock-in period and limited withdrawal options before investing.
  • Diversify your daughter’s financial portfolio by considering other investment options alongside SSY based on your financial goals and risk tolerance.
  • Regularly contribute to the account to maximize the benefits of compounding interest.
  • Remember, SSY is primarily for long-term financial planning for your daughter.

Additional Tips:

  • Encourage your daughter to understand the importance of financial planning and responsible saving habits.
  • Consider using online banking facilities for convenient deposits and tracking account activity.
  • Explore SSY calculator tools available online to estimate the maturity amount based on your investment plan.


Please note:

  • GrowWiseis not registered with the Securities and Exchange Board of India (SEBI) as an investment advisor, research analyst, or portfolio manager.
  • The information published on this blog is presented for educational purposes only and should not be construed as financial advice.
  • We strongly recommend that you seek the advice of a qualified financial advisor before making any investment decisions.