New Delhi: Sukanya Samriddhi Yojana (SSY) completed 10 years on January 23, 2025. The popular scheme was launched by Prime Minister Narendra Modi on 22nd January as part of the Beti Bachao, Beti Padhao Campaign. The investment yojana is aimed at ensuring financial security and social empowerment of the girl child.
The SSY scheme allows a depositor to open an account of a girl below 10 years of age. This means that the guardian people can open the account right after the birth of the girl child till she attains the age of 10 years. Under this scheme, accounts can be opened only in the name of the girl child who is a resident of India from the time of opening the account till the time of maturity/closure is eligible for the scheme. The rules stated that only one account is allowed per child. Parents are allowed to open a maximum of two accounts for each of their children. However, exceptions have been provided for more accounts in case of twins or triplets. Interest earned in the account is free from Income Tax under Section -10 of IT Act.
SSY Investment, Withdrawals, and Maturity: A Comprehensive Guide
The documents required for opening a SSY account: Sukanya Samriddhi Account Opening Form, Birth certificate of girl child, Identity proof (as per RBI KYC guidelines) and Residence proof (as per RBI KYC guidelines).
Sukanya Samriddhi account can be opened for girls at any post office or designated commercial bank branch. The minimum initial deposit amount has been fixed at Rs 250, and subsequent deposits can be made in multiples of Rs 50, provided that at least Rs 250 is deposited in a financial year. The maximum deposito is Rs 1,50,000 in a financial year. Deposits can be made for a period of up to fifteen years from the account opening date.
Early withdrawal is allowed in the SSY scheme. The account holder can withdraw of up to 50 percent of the balance at the end of the preceding financial year, specifically for educational purposes. Notably, the withdrawal is permitted after the beneficiary turns eighteen or completes the tenth standard, whichever comes first.
In case of death of the account holder, Sukanya Samriddhi Yojana account can be closed immediately upon submitting an application along with the death certificate issued by the competent authority.
Sukanya Samriddhi Yojana Calculator
Annual investment – Rs 10,000
Age of daughter (when account opened) – 5 years
Current interest rate – 8.2 percent
Account opening year – 2025
Returns
Total investment over a period of 15 years: Rs 1,50,000
Interest- Rs 3,11,839
Year of maturity- 2046
Total return after maturity- 4,61,839
The Sukanya Samriddhi Yojana (SSY), launched in 2015, celebrated its 10th anniversary on January 23, 2025. This scheme provides financial security for girls, enabling parents to invest for their education and future. An account can be opened for girls under 10, with a minimum deposit of Rs 250 and a maximum annual deposit of Rs 150,000. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
