Sukanya Samriddhi Yojana (SSY) is a secure savings plan launched under the “Beti Bachao, Beti Padhao” initiative. It helps parents create a large fund for their daughters’ future needs like education or marriage with small monthly deposits and guaranteed returns.
Who Can Open an SSY Account?
Any Indian parent or legal guardian of a girl child under the age of 10 can open this account. A maximum of two accounts can be opened per family, and in special cases like twins or triplets, three accounts are allowed.
How Much Can You Deposit?
You can deposit a minimum of ₹250 and up to ₹1.5 lakh per year. Deposits can be made monthly or annually, depending on your convenience.
Attractive Interest Rate of 8.2%
The current interest rate is 8.2% per annum, compounded yearly. This is higher than most other government savings schemes like PPF or fixed deposits, ensuring better returns.
How ₹10,000 Monthly Can Grow into ₹50+ Lakh
- If you deposit ₹1,000 per month for 15 years, your total contribution will be ₹1.8 lakh. At maturity (after 21 years), you’ll receive around ₹5.74 lakh.
- If you deposit ₹10,000 per month, the total deposit in 15 years will be ₹18 lakh, and maturity value will be around ₹57.45 lakh.
| Monthly Deposit | Total Deposit (15 Years) | Maturity Amount (21 Years) | Total Interest Earned |
|---|---|---|---|
| ₹1,000 | ₹1,80,000 | ₹5,74,569 | ₹3,94,569 |
| ₹10,000 | ₹18,00,000 | ₹57,45,695 | ₹39,45,695 |
Maturity and Withdrawal Rules
The SSY account matures after 21 years from the date of opening or upon the daughter’s marriage after age 18. Only 15 years of deposits are required. After that, the money continues to earn interest. Partial withdrawal of up to 50% is allowed after the girl turns 18 for educational expenses.
Documents Required to Open an Account
To open an SSY account, you need:
- Birth certificate of the girl child
- ID and address proof of the parent/guardian
- Passport-size photograph
- Initial deposit of minimum ₹250
The account can be opened at any post office or authorized bank. Online deposits via NEFT, mobile banking, or internet banking are also allowed after account activation.
Why SSY is the Best Choice for Your Daughter’s Future
- Government-backed with guaranteed returns
- High interest rate and tax-free maturity
- Helps secure funds for education or marriage
- No market risk, making it a safe long-term investment
Conclusion
Sukanya Samriddhi Yojana is a powerful way to build a strong financial future for your daughter with peace of mind. Just two steps — open the account and start monthly savings — can lead to a fund of over ₹50 lakh. If your daughter is under 10, now is the perfect time to invest.
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