Rising education costs and long-term financial planning for children have become essential for every Indian household. In this context, the Sukanya Samriddhi Account stands out as one of the most reliable, government-backed savings schemes specially designed for the girl child. Launched under the “Beti Bachao, Beti Padhao” initiative, this scheme is not only about securing money but also about building a future with dignity and independence.
Whether you are a young parent or planning early for your daughter’s education and marriage, the Sukanya Samriddhi Yojana offers an unbeatable combination of high interest, tax savings, and long-term discipline.
What is the Sukanya Samriddhi Account?
The Sukanya Samriddhi Account (SSA) is a small savings scheme introduced by the Government of India in 2015. The scheme allows parents or guardians to invest on behalf of a girl child under the age of 10. The account earns a higher interest rate than other small savings schemes and offers triple tax exemption under Section 80C of the Income Tax Act.
Eligibility Criteria for Sukanya Samriddhi Account
The account can be opened only for a girl child.
The girl must be below 10 years of age at the time of account opening.
Only one account per girl child is allowed.
Maximum two accounts per family are permitted (three in case of twins or triplets).
Where Can You Open a Sukanya Samriddhi Account?
You can open the account at:
Post Offices across India
Authorized Public Sector Banks (like SBI, PNB, BOB)
Select Private Sector Banks (like ICICI, Axis Bank)
All you need is:
Birth certificate of the girl child
Identity and address proof of the guardian
Initial deposit (minimum ₹250)
Sukanya Samriddhi Yojana Interest Rate 2025
The current interest rate for the Sukanya Samriddhi Account (as of Q1 FY 2025) is 8.2% per annum, compounded yearly. The interest rate is reviewed quarterly by the Ministry of Finance.
Comparison with Other Schemes:
Clearly, the Sukanya Samriddhi Yojana offers the highest interest among government-backed schemes.
Maturity and Lock-In Period
The account matures 21 years from the date of opening.
Deposits are required only for 15 years.
After 15 years, no more deposits are needed, but the interest continues to accrue until maturity.
Example:
If you open the account in 2025, you must deposit until 2040, and the account will mature in 2046.
Minimum and Maximum Investment
Minimum deposit: ₹250 per year
Maximum deposit: ₹1.5 lakh per year
Deposits can be made in a lump sum or in installments
Tip: For maximum benefit, try to deposit ₹1.5 lakh each year before April 5 to earn interest for the full financial year.
Tax Benefits of Sukanya Samriddhi Account
The scheme enjoys Exempt-Exempt-Exempt (EEE) status, which means:
Investment up to ₹1.5 lakh is deductible under Section 80C.
Interest earned is tax-free.
The maturity amount is completely tax-free.
This makes it one of the most tax-efficient savings tools available in India.
Sukanya Samriddhi Account Rules You Should Know
Premature Withdrawal: Allowed up to 50% of the balance for education purposes after the girl turns 18.
Closure on Marriage: The account can be closed after the girl turns 18 if she gets married.
Missed Payments: If the minimum ₹250 deposit is not made in a year, the account is marked inactive. A penalty of ₹50 is required for reactivation.
Transferability: The account can be transferred anywhere in India, free of cost, if the account holder moves.
Benefits of Sukanya Samriddhi Yojana
1. Secure Future for Girl Child
The scheme is exclusively for girls, encouraging parents to plan early and contribute to their daughters’ education and marriage expenses.
2. High Interest Rate
Among the highest interest rates in the small savings category.
3. Tax Exemption
Ideal for taxpayers who want secure returns along with tax benefits under 80C.
4. Long-Term Wealth Creation
Disciplined savings over 15 years lead to a substantial corpus at maturity.
5. Government Backed
Zero risk of default as it is backed by the Central Government.
Sukanya Samriddhi Account Calculator (Example)
Let’s assume you invest ₹1.5 lakh every year for 15 years at 8.2% interest.
Total Investment: ₹22,50,000
Estimated Maturity Amount: ₹63–65 lakhs (depends on compounding)
This amount can cover major higher education or marriage expenses for your daughter.
How to Open a Sukanya Samriddhi Account – Step-by-Step
-
Visit the nearest post office or authorized bank.
-
Collect and fill out the SSA Account Opening Form.
-
Submit documents:
-
Birth certificate of a girl
-
Aadhaar/PAN of the parent
-
Address proof
-
Deposit the initial amount (minimum ₹250).
-
Collect the passbook.
Online Sukanya Account opening is also offered by some banks like SBI and ICICI through their net banking or mobile app.
Conclusion
The Sukanya Samriddhi Account is not just a savings scheme—it is a step toward empowering the girl child financially. With its high interest rate, tax exemptions, and long-term vision, this scheme is ideal for those who want to secure their daughter’s future without taking unnecessary market risks.
Whether your goal is funding higher education or building a wedding corpus, starting early with the Sukanya Samriddhi Yojana can make all the difference. It’s a low-risk, high-reward option for Indian parents who want the best for their daughters.
Frequently Asked Questions (FAQs)
Q1. Can I open two Sukanya Samriddhi Accounts for one girl?
No, only one account per girl child is allowed.
Q2. Can grandparents open the account?
Only parents or legal guardians can open the account.
Q3. What happens if the girl child dies?
The account is closed, and the balance is paid to the guardian along with interest.
Q4. Can I claim tax benefits for deposits in two accounts?
Yes, provided the total deposit across accounts does not exceed ₹1.5 lakh.
Q5. What documents are required to open the account?
Birth certificate of the girl, parents’ ID, and address proof.
Q6. Can the account be transferred from one bank to another?
Yes, easily transferable across India at no cost.
Q7. Is the interest rate fixed?
No, it is revised quarterly by the government, but stays relatively high.
Q8. Can I withdraw before maturity?
Partial withdrawal (up to 50%) is allowed after the girl turns 18 for education.
Q9. Is the maturity amount taxable?
No, the entire maturity amount is tax-free.
Q10. What happens after the account matures?
The account stops earning interest. You must withdraw the balance.
Comments
0 comment