What is Sukanya Samriddhi Yojana?

Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme. It was specifically introduced to help parents secure the financial future of their girl child. The scheme allows parents or legal guardians to save for the future needs of their daughters, such as education or marriage.

The Sukanya Samriddhi Yojana Scheme was launched on 22nd January 2015 under the ‘Beti Bachao, Beti Padhao’ campaign. It aims to promote the education of girls across India.

How does the Sukanya Samriddhi Yojana work?

Sukanya Samriddhi Yojana allows parents or legal guardians to open a savings account for a girl child. The account can be opened at any time from the child’s birth until she turns 10 years old. You can open the account at post offices as well as authorised banks across India.

Once the account is opened, you can deposit a minimum of ₹ 250 and up to ₹ 1.5 lakh per financial year. These deposits earn interest at an attractive rate. The Sukanya Samriddhi Yojana interest rate​ is currently 8.2% per annum as of the April–June 2026 quarter. The interest is compounded yearly, which helps your savings grow over time.

The account comes with flexible benefits. You can transfer the account from one post office or bank to another anywhere in the country. Parents can make withdrawals for the girl’s higher education and the account can also be closed prematurely for the girl’s marriage once she turns 18 years old. The Sukanya Samriddhi Yojana account matures 21 years from the date it is opened.

The account enjoys several tax* benefits, too. The deposits qualify for a deduction of up to ₹ 1.5 lakh per annum subject to conditions prescribed under Section 123 (read with Schedule XV, Sr. No. 1, 2, 4)*, and the interest earned and maturity amount are exempted subject to conditions prescribed under Section 11 (read with Schedule II, Sr. No. 2)* of the Income Tax Act, 2025.

Types of Sukanya Samriddhi Yojana accounts

The Sukanya Samriddhi Yojana Scheme offers different types of accounts that you can open based on your needs and accessibility options.

Bank account option

You can open a Sukanya Samriddhi Yojana account at one of the authorised participating banks. This type of account opening can be convenient and easily accessible. Banks offer the option of online contributions, easy monitoring of your savings and more. Below is a list of participating banks you can choose from:

• ICICI Bank
• State Bank of India
• Andhra Bank
• Allahabad Bank
• Bank of Baroda
• Punjab and Sind Bank
• Canara Bank
• Bank of Maharashtra
• Bank of India
• Corporation Bank
• Indian Overseas Bank
• Dena Bank
• Central Bank of India
• Punjab National Bank
• Union Bank of India
• UCO Bank
• Syndicate Bank
• Oriental Bank of Commerce
• IDBI Bank
• Axis Bank
• United Bank of India

Post office account option

You can also open a Sukanya Samriddhi Yojana account at a post office branch. For this, you need to visit the post office branch of your choice and fill out an application form. After submitting the required documents, you can pay a minimum of ₹ 250 and a maximum of ₹ 1.5 lakh to open the account. The post office will process your application, and your account will be opened.

This option can be suitable for rural areas or anybody who prefers a non-digital user experience.

What are the benefits of the Sukanya Samriddhi Yojana?

The Sukanya Samriddhi Yojana Scheme offers several benefits, as highlighted below:

High interest rates

With attractive interest rates compounded annually, the scheme allows you to build your savings pool and can potentially outpace inflation over time. The scheme offers a high interest rate of 8.2% per annum as of April–June 2026 quarter.

Tax* benefits

The contributions made to the Sukanya Samriddhi Yojana Scheme are eligible for a deduction of ₹ 1.5 lakh subject to conditions prescribed under Section 123 (read with Schedule XV, Sr. No. 1, 2, 4)* of the Income Tax Act, 2025, which helps you save money. Additionally, the maturity proceeds are exempt subject to conditions prescribed under Section 11 (read with Schedule II, Sr. No. 2)* of the same act.

Long-term security

Sukanya Samriddhi Yojana comes with a long term of 21 years. This long horizon allows your savings to compound and helps you build a sizeable financial pool for your daughter’s future needs.

Partial withdrawal facility

Sukanya Samriddhi Yojana offers a partial withdrawal facility that allows you to draw up to 50% of the account balance for the girl child’s higher education once she turns 18. This helps you maintain liquidity for your daughter’s education needs.

Safe and government-backed investment

Since the scheme is backed by the Government of India, your capital is safe. Moreover, the scheme offers a guaranteed return with fixed interest, which makes it a low-risk savings option.

What are the eligibility criteria for the Sukanya Samriddhi Yojana?

Below are some rules to follow when opening an account under the Sukanya Samriddhi Yojana Scheme:

• The scheme is meant for resident Indian girls and the account must be in the child’s name
• An account can be opened only for a girl child below 10 years of age
• A family is allowed to open a maximum of two accounts, one for each eligible daughter. However, families with twins or triplets can open additional accounts. Having said that, if the family has twin or triplet girls in the first delivery, no further accounts can be opened for later single-girl births in the family

What documents are required for the Sukanya Samriddhi Yojana?

Below is a list of the required documents for opening an account under the Sukanya Samriddhi Yojana:

Birth certificate

You need to submit a copy of the girl child’s birth certificate.

Identity proof

You must submit identity proofs like Aadhaar card, PAN card, Voter’s ID or others of the parent or the legal guardian.

Address proof

You must submit address proofs like Aadhaar card, Passport, Voter’s ID or others of the parent or the legal guardian.

Photographs

You need to submit the latest passport-size photograph of the parent or the legal guardian.

What are the interest rates of Sukanya Samriddhi Yojana in 2025?

The Sukanya Samriddhi Yojana interest rate is 8.2% per annum, compounded annually, as of the April–June 2026 quarter. The interest is calculated based on the lowest balance between the end of the month and the 5th of the next month.

How to start investing in the Sukanya Samriddhi Yojana?

Below is a guide to start investing in the Sukanya Samriddhi Yojana:

• Visit a participating bank or post office to open an SSY account. Some banks allow you to download the form online, while post office applications can only be collected in person
• Fill out the Sukanya Samriddhi Yojana account opening form and submit the required documents, such as the girl child’s birth certificate, ID proof and address proof, to the bank or post office
• Make the initial deposit, which can be as low as ₹ 250 and up to ₹ 1.5 lakh in a financial year
• After verification and processing, the SSY account will be opened in the name of the girl child
• Continue depositing at least the minimum amount each year to keep the account active and ensure growth

Conclusion

The Sukanya Samriddhi Yojana is a low-risk, government-backed savings scheme that can help parents save for the future of their daughters. This long-term savings scheme can help you potentially outpace inflation and create a tax-free* amount for your daughter. You can use it to create a strong financial foundation for your child’s future.

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