Sukanya Samriddhi Yojana (SSY) Full Details – A Central Government Scheme for Girl Child telugu (2025)
The Sukanya Samriddhi Yojana (SSY) is one of the most popular savings schemes launched by the Government of India under the “Beti Bachao, Beti Padhao” initiative. This scheme aims to secure the financial future of the girl child by encouraging parents to build a fund for her education and marriage. With attractive interest rates, tax benefits, and guaranteed returns, SSY remains a reliable long-term investment for Indian families.
Key Highlights of Sukanya Samriddhi Yojana:
- Launch Year: 2015
- Governing Authority: Ministry of Finance, Government of India
- Interest Rate (2025): 8.2% per annum (subject to quarterly revisions)
- Eligibility: Girl child below 10 years of age
- Account Holder: Parent or legal guardian
- Tenure: 21 years from the date of account opening or until the girl gets married after the age of 18
Eligibility Criteria:
- The account can be opened only in the name of 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.
- A maximum of two accounts can be opened in one family (exceptions apply for twins or triplets).
How to Open an SSY Account:
You can open a Sukanya Samriddhi Yojana account at:
- Post Offices across India
- Public Sector Banks (e.g., SBI, PNB, Bank of Baroda)
- Selected Private Banks (e.g., ICICI, HDFC, Axis Bank)
Documents Required:
- Birth certificate of the girl child
- ID proof of the parent/guardian (Aadhaar, PAN, etc.)
- Address proof of the parent/guardian (utility bill, Aadhaar, etc.)
- Passport-size photographs
Deposit Rules:
- Minimum Deposit: ₷250 per financial year
- Maximum Deposit: ₷1,50,000 per financial year
- Deposits can be made in lump sum or in installments
- Deposits are allowed up to 15 years from the date of account opening
- Payment can be made via cash, cheque, demand draft, or online transfer (depending on the bank)
Interest Rate and Returns:
- The interest rate is revised quarterly by the Ministry of Finance.
- For 2025, the current interest rate is 8.2% per annum (compounded yearly).
- Interest earned is tax-free under Section 10 of the Income Tax Act.
Maturity and Withdrawal Rules:
Maturity Period:
- The account matures after 21 years from the date of account opening.
- The maturity amount, including interest, is tax-free.
Premature Withdrawal:
- Allowed up to 50% of the balance for higher education of the girl child after she turns 18.
Account Closure:
- Allowed if the girl gets married after 18 years of age.
- Must submit an affidavit confirming she is above 18.
Tax Benefits:
Investments made under SSY are eligible for tax deduction under Section 80C of the Income Tax Act, up to ₷1.5 lakh per year.
Triple Tax Benefit (EEE Status):
- Exempt on Investment (80C deduction)
- Exempt on Interest Earned
- Exempt on Maturity Amount
Benefits of Sukanya Samriddhi Yojana:
- High interest rate compared to regular savings accounts and FDs
- Encourages long-term disciplined savings
- Tax-free returns and maturity amount
- Empowerment of the girl child
- Easy account opening and maintenance
- Government-backed scheme with assured returns
Online Services:
Many banks offer online SSY account management facilities:
- Online deposits
- View balance and interest accrued
- Download account statements
Frequently Asked Questions (FAQs):
Q1: Can the SSY account be transferred? Yes, the account can be transferred from one post office or bank to another anywhere in India.
Q2: Can I continue investing after 15 years? No, investments are allowed only for the first 15 years. However, the account continues to earn interest till maturity (21 years).
Q3: What happens if I fail to deposit the minimum amount? The account will be considered “defaulted” but can be revived by paying a penalty of ₷50 per year.
Q4: Can NRIs open an SSY account? No, Non-Resident Indians are not eligible for this scheme.
Real-Life Example:
Let’s assume you open an SSY account with ₷1,00,000 per year for 15 years:
- Total Deposit: ₷15,00,000
- At an interest rate of 8.2%, the maturity amount after 21 years could be approximately ₷40,00,000
This can be a solid financial base for the girl’s higher education or marriage.
Important Notes:
- Always update the KYC details for the account regularly.
- Submit the girl child’s school certificate while applying for partial withdrawal.
- Keep a record of the passbook and update it annually.
The Sukanya Samriddhi Yojana is not just a savings plan, but a step toward empowering the girl child with financial security. With disciplined savings, tax benefits, and government assurance, SSY is one of the best schemes available for girl child welfare in India. Every parent or guardian should consider this option seriously to ensure a strong financial future for their daughters.