The Sukanya Samriddhi Yojana (SSY) has emerged as one of India’s most meaningful financial initiatives for the girl child. More than just a savings scheme,
it represents the government’s long-term push to support education, independence and security for young girls across the country. Launched on 22 January 2015 under the Beti Bachao, Beti Padhao programme, SSY was created to help families plan early for their daughters’ future needs. The idea was simple but powerful, combine financial discipline with social progress. Over the years, the scheme has encouraged parents to invest in their daughters’ education and well-being, while also changing mindsets at the grassroots level. As SSY completes 11 years on 22 January 2026, the scale of participation shows the trust families have placed in the scheme. Since launch, more than 4.53 crore accounts have been opened. Each account reflects a belief that investing in a girl’s future strengthens not just households, but communities and the economy as well.
How Sukanya Samriddhi Yojana Secures a Girl’s Future
SSY currently offers an interest rate of 8.2 per cent per annum, among the highest for government-backed savings options meant specifically for daughters.It is a low-risk scheme, as both the principal and interest are backed by the Government of India. Rates are reviewed quarterly and credited annually, giving parents a stable and predictable way to build a long-term fund.
Beyond returns, the scheme plays a social role. It is designed to meet major life expenses such as education and marriage. By supporting learning, financial independence, and confidence, SSY contributes to women empowerment and the broader goal of a self-reliant India.
What Is an SSY Account and Who Can Open It?
An SSY account is opened in the name of a girl child to deposit savings under the scheme. Parents or legal guardians can open it at any India Post office, public sector bank, or authorised private banks such as HDFC Bank, Axis Bank, ICICI Bank and IDBI Bank.The account can be opened from the girl’s birth until she turns 10 years old. Only one account is allowed per girl and a family can open accounts for a maximum of 2 daughters. In case of twins or triplets, more than 2 accounts are permitted with proper affidavits and birth certificates.
The account is transferable anywhere in India. Until the girl turns 18, the parent or guardian manages the account. After that, the account holder can operate it herself by submitting the required documents.
Documents Needed to Open an SSY Account
To open an SSY account, these documents are required:
- SSY account opening form (from bank or post office)
- Birth certificate of the girl child
- Aadhaar number
- PAN card or Form 60 as per Income Tax Rules
- Deposit Rules Under Sukanya Samriddhi Yojana
Parents can start with a minimum deposit of Rs 250. After that, deposits can be made in multiples of Rs 50, provided at least Rs 250 is deposited in a financial year.
The maximum limit in a year is Rs 150000. Any amount above this does not earn interest and is refunded.
How Is Interest Calculated?
Interest is calculated every month and credited at the end of each financial year. Even if the account is transferred between banks or post offices during the year, interest continues to accumulate and is added annually, ensuring steady growth of savings for the girl child.Withdrawal Rules From an SSY Account
Once the account holder turns 18 or passes Class 10, she can withdraw up to 50 per cent of the balance available at the end of the previous financial year for education.
In Case of Death
If the account holder dies, the account can be closed immediately after submitting the death certificate.
The balance along with interest up to the date of death is paid to the guardian. Interest after death is calculated at the Post Office Savings Account rate until closure.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions)
