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Sukanya Samriddhi Scheme

Sukanya Samriddhi Scheme

The Ministry of Finance launched the Sukanya Samriddhi Yojana (SSY) on January 22, 2015, as a special deposit scheme for girls. It is part of the Beti Bachao Beti Padhao campaign, aiming to address education and marriage expenses for the girl child. Notified by the Government of India on December 14, 2014, the scheme encourages parents to save for their daughter’s future. You can submit applications for SSY through Post Offices or Public Sector Banks, which include HDFC Bank, Axis Bank, and ICICI Bank. A parent or legal guardian can open the account for a girl child below 10 years, with a limit of one account per child.

What is Sukanya Samriddhi Yojana (SSY)?

The Sukanya Samriddhi Yojana (SSY) is a small deposit scheme launched by the Government of India in 2015. This is to promote savings and investments for the future of girl children. It is a government-backed savings scheme that offers a high-interest rate and tax benefits.


  • This program aims to ease the mental strain on parents and empower their daughters financially.
  • Despite earnest government initiatives, India continues to grapple with a concerning gender ratio, highlighting persistent societal challenges.
  • The efforts undertaken by the Indian government to shift societal perceptions towards valuing girls are commendable.

Salient Features

Here are the salient features of Sukanya Samriddhi Yojana:

    • Parents or guardians can open an account in the name of a girl child under 10 years old.
    • The yearly deposit range is between Rs. 250 as the minimum and Rs. 1.5 lakh as the maximum.
    • The interest rate on Sukanya Samriddhi Yojana stands at 8% annually, making it one of the most lucrative government-backed savings schemes.
    • The maturity period spans 21 years.
    • Upon maturity, the entire amount, inclusive of interest, is payable to the girl child.
    • You can start accounts at any post office or bank.
    • Parents or guardians have the authority to operate the account.
    • Tax deduction eligibility under Section 80C of the Income Tax Act, 1961 is applicable.


    • Families with a daughter under the age of ten are eligible for the Beti Bachao Beti Padhao initiative, aiming to alleviate parents financial concerns and support the well-being of female children.
    • To participate, parents must open a Sukanya Samriddhi Account (SSA) in any Indian bank, under their daughter’s name.
    • Only Indian residents are eligible for the BBBP scheme; non-resident Indian (NRI) citizens are not eligible.


    • The BBBP plan offers practical and social benefits, allowing young girls to register accounts for future financial security.
    • Under Section 80C of the 1961 Act, individuals can enjoy tax exemptions on these accounts, ensuring that their savings remain free from deductions.
    • The Sukanya Samriddhi Account (SSA) is a savings system introduced as part of the Beti Bachao Beti Padhao Yojana, specifically designed for girls.
    • Parents or guardians can easily save money for their daughters future needs like education or marriage through this account.
    • This initiative combats the harmful notion that girls are financial burdens.
    • It earns interest and allows withdrawals at 18, providing financial stability as she enters adulthood.

    Read Also: Sarbananda Sonowal launches ‘Sagar Samriddhi’

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