Understanding the Sukanya Samriddhi Yojana: Nurturing Financial Security for the Girl Child

Sukanya Samriddhi Yojana


Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme launched in India with the primary goal of fostering financial security and empowerment for the girl child. Introduced as part of the ‘Beti Bachao, Beti Padhao’ campaign, this scheme encourages parents to invest in their daughter’s future by providing a dedicated savings avenue. In this article, we will delve into the key features, benefits, and procedures associated with Sukanya Samriddhi Yojana.

Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana

Key Features of Sukanya Samriddhi Yojana:

  1. Targeted Savings for Girl Child: Sukanya Samriddhi Yojana is exclusively designed to meet the financial needs of the girl child. Parents or legal guardians can open an account in the name of their daughter(s) below the age of 10 years.
  2. Tenure and Maturity: The scheme has a fixed tenure, and the account matures when the girl reaches the age of 21. However, partial withdrawals are allowed after the girl turns 18, facilitating financial support for higher education or marriage expenses.
  3. Interest Rate: Sukanya Samriddhi Yojana offers a competitive interest rate, which is set by the government and revised quarterly. The interest earned is compounded annually, contributing to the overall growth of the investment.
  4. Minimum and Maximum Deposit: The scheme allows a minimum annual deposit, and there is a cap on the maximum amount that can be deposited in a financial year. This flexibility makes it accessible to a wide range of income groups.
  5. Tax Benefits: Contributions made to Sukanya Samriddhi Yojana are eligible for tax benefits under Section 80C of the Income Tax Act. Additionally, the interest earned and the maturity amount are exempt from taxation.
  6. Account Operation: The account can be opened at designated banks or post offices. Parents or legal guardians are responsible for managing the account until the girl child turns 18, after which she can operate the account herself.
  7. Account Transfer: In case of the relocation of the girl child or her parents, the Sukanya Samriddhi Yojana account can be transferred anywhere in India without affecting its status.
  8. Flexible Deposit Options: Deposits can be made through cash, cheque, or demand draft, providing flexibility to contributors. Online facilities are also available for ease of operation.
  9. Penalty for Default: While the scheme encourages regular deposits, there are provisions for penalty in case of default. It is important to ensure timely contributions to maximize the benefits.


Sukanya Samriddhi Yojana stands as a commendable initiative by the Indian government to promote financial inclusion and security for the girl child. By offering an attractive interest rate, tax benefits, and flexibility in operations, the scheme not only encourages savings but also facilitates the long-term financial planning essential for a girl’s education, marriage, and overall well-being. As more families avail themselves of the benefits of Sukanya Samriddhi Yojana, it contributes to the broader goal of empowering the girl child and building a financially inclusive society.

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