Sukanya Samriddhi Yojana – In Brief:


A girl child born in India, born in our culture and we say goddess Laxmi has come to us. We consider women so precious because they are. 

But, there are some families who consider a girl child as a burden. Especially the financially weaker ones. And, this isn’t just in India. People all around the world still prefer baby boys over girls. 

According to United Nations Population Fund, The result of sex-selective abortions, infanticide, and neglect of girl child has resulted in over 117 million missing females in Asia alone. In India, we have had some improvements in the sex ratio but the number is still low at 951 per 1000 males.

If you have a girl child in your home. Fell blessed.

And, In this article, I’ll explain Sukanya Smariddhi Yojana, if you have a girl child, please go and open a Sukanya Smariddhi Account. For more information, check the link. Have written in detail. CLICK HERE!

What is a Sukanya Samriddhi Yojana?

Sukanya Smariddhi Yojana is a Central government scheme that aims to improve the lives of girl children in the country. The scheme was inaugurated as part of the Beti Bachao Beti Padhao initiative.

Under this scheme, you as a parent or a guardian of the girl child can open Sukanya Samriddhi Account in the child’s name as soon as she’s born. Basically, any Indian with a girl child aged 10 years or less can open this account. And, fund it for the next 15 years. 

Sukanya Samriddhi Yojana Interest Rate:

Currently, the SSY scheme’s interest rate has decreased from 8.4 percent to 7.6 percent and is compounded annually. Interest is not payable upon completion of the scheme’s length or upon the girl’s conversion to a non-resident Indian (NRI) or non-citizen. The government sets the interest rate on a quarterly basis.

The scheme’s interest rate is listed in the table below:

DurationRate of interest (%)
April 2020 to Current Rates7.6
1 October 2018 to 31 March 20198.5
1 January 2018 to 30 September 20188.1
1 July 2017 to 31 December 20178.3
1 October 2016 to 31 December 20168.5
1 April 2016 to 30 September 20168.6

Benefits of Sukanya Samriddhi Account:

Tax Benefits

Under Section 80C, you can claim your contribution to the Sukanya Samriddhi Account up to Rs. 1,50,000 per year.

High Interest

This scheme offers one of the highest interest options ranging from 7% to over 9%. Also, as it is a special scheme specifically designed for a purpose, you can be free and assured that the scheme’s interest rates will not fall below the Fixed Deposit rates.

Flexible contribution

The minimum deposit one needs to make in a financial year is Rs.250, if not made, you’ll be liable for Rs.50 as a penalty and there’s no higher limit for contribution. Contribute whenever you want and in as many tranches as you like.


This is a Central government scheme, as far as I know about our governments, you’ll never have any major changes in the scheme, you may have some minor amendments, but the scheme will stand strong forever. Rest assured, you can safely invest for the betterment of your daughter.

Savings for Girl Child

Major Benefits under the Sukanya Samriddhi Yojana go to the Girl Child. Be it her education expenses, her marriage, or any expense she may incur in the later day can be borne by this Scheme. Infact, it was with this intention to help all the Girl Children in India and their parents, the scheme was initiated.

Sukanya Samriddhi Yojana

How to Open Sukanya Samriddhi Account?

There’s a form to be filled out, have given a link to the form in the description. Just fill it and go to your nearest Post office or pretty much any PSU Banks or major Private banks in your locality. 

For basic KYC requirements, Take with you the birth certificate of the child, and your Address & Id proof is sufficient. 

Following are the Documents required:

  1. Sukanya Samriddhi Yojana Account Opening Form (CLICK HERE!)
  2. Birth certificate of the Girl Child.
  3. ID Proof & Address document of the Depositor who is also the Parent or Guardian of the Child.
  4. Medical Certificate of the Birth in case multiple children apart from the Girl Child (Limit is – Upto 2 girl child in a family can avail benefits under SSY).
  5. Any other Documents as requested by the Bank or Post Office or such other place where the SSY account is being opened.


Prime Minister Narendra Modi announced the Sukanya Samriddhi Yojana (SSY) initiative as part of the Beti Bachao Beti Padhao campaign with the primary objective of safeguarding the future of a female child.

Contributions to the plan can be used to finance the female child’s marriage and education. Banks and post agencies accept SSY accounts. Tax advantages of up to Rs. 1.5 lakh are available under Section 80C of the Income Tax Act, 1961 for donations to the plan.

Look, Middle-class Indians are the heavy lifters in our economy, we pay more tax, and considering our income, we barely make it month to month. In such a situation, to benefit us, the government has given some schemes or programs, make use of them.

One such is β€œSukanya Samriddhi Account”. Have written a detailed article on the topic, and also written one more article explaining the various options available for middle-class Indians in regards to investing.

Sukanya Samriddhi Yojana Features, Benefits & Eligibility Criteria Explained

Best Investment Plans in India for Middle Class 2022

For More Information, Watch This Video:

Disclaimer: All the information on this website is published in good faith and for general information purposes only.

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