Post Office Sukanya Samriddhi Yojana : The Sukanya Samriddhi Yojana (SSY), launched under the Government of India’s “Beti Bachao, Beti Padhao” campaign, is one of the most reliable and high-return investment schemes for the girl child. Offered by the Post Office and select banks, the SSY scheme not only promotes savings for the girl child’s education and marriage but also offers attractive interest rates and significant tax benefits. With just ₹250 per month, parents can build a strong financial foundation for their daughter’s future.
What is Sukanya Samriddhi Yojana (SSY)?
The Sukanya Samriddhi Yojana is a small savings scheme exclusively designed for the girl child. It allows parents or legal guardians to open an account in the name of their daughter and save money systematically. The account can be opened anytime after the girl’s birth until she turns 10 years old.
Key Highlights:
- Launched by: Government of India (2015)
- Minimum deposit: ₹250 per year
- Maximum deposit: ₹1.5 lakh per year
- Tenure: 21 years or until the girl’s marriage after 18
- Interest Rate (FY 2024-25): 8.2% (compounded annually)
- Tax benefits: Under Section 80C of the Income Tax Act
SSY Scheme Benefits at a Glance
- High interest rate: Among the highest among small savings schemes
- Tax-saving: Enjoy EEE (Exempt-Exempt-Exempt) status
- Safe investment: Government-backed, zero risk
- Partial withdrawal allowed: After the girl turns 18, up to 50% for education
- Account transfer: Can be transferred anywhere in India
Investment Scenarios – What Happens if You Invest ₹250, ₹1,000 or ₹5,000 Monthly?
Here’s a comparative table showing how different monthly contributions grow over the years:
| Monthly Investment | Annual Investment | Total Investment (15 Years) | Maturity Amount (After 21 Years) |
|---|---|---|---|
| ₹250 | ₹3,000 | ₹45,000 | ₹1.21 Lakh |
| ₹500 | ₹6,000 | ₹90,000 | ₹2.42 Lakh |
| ₹1,000 | ₹12,000 | ₹1.8 Lakh | ₹4.85 Lakh |
| ₹2,000 | ₹24,000 | ₹3.6 Lakh | ₹9.71 Lakh |
| ₹3,000 | ₹36,000 | ₹5.4 Lakh | ₹14.56 Lakh |
| ₹4,000 | ₹48,000 | ₹7.2 Lakh | ₹19.42 Lakh |
| ₹5,000 | ₹60,000 | ₹9 Lakh | ₹24.27 Lakh |
Note: Maturity values are approximated based on the 8.2% interest rate and may vary slightly depending on compounding.
Eligibility Criteria for SSY Account
To open a Sukanya Samriddhi Yojana account, the following conditions must be met:
- The account must be opened in the name of a girl child below 10 years of age.
- Only one SSY account is allowed per girl child.
- A maximum of two SSY accounts can be opened in a family (for two girl children).
- Exception: In case of twins or triplets, more than two accounts can be allowed.
See more : Fixed ₹8,000 Income Every Month for Senior Citizen
Documents Required to Open an SSY Account
- Birth certificate of the girl child
- Identity proof and address proof of the guardian (Aadhaar, PAN, etc.)
- Passport size photograph of the guardian
- Duly filled SSY account opening form
How to Open a Sukanya Samriddhi Yojana Account
The account can be opened at any post office or authorized public/private sector bank. Here’s how:
- Visit the nearest Post Office or designated bank
- Fill out the SSY Account Opening Form
- Submit the required documents
- Make the initial deposit (minimum ₹250)
- Receive the passbook for future transactions
Rules for Deposits, Withdrawals, and Maturity
Deposits:
- Can be made in lump sum or monthly
- Deposits allowed for 15 years only from the date of account opening
Withdrawals:
- 50% of the account balance can be withdrawn when the girl turns 18, for higher education purposes
Maturity:
- Account matures after 21 years or upon the girl’s marriage (after 18 years)
- Full maturity amount is paid to the girl child
Withdrawal Table Based on Age
| Girl’s Age | Account Status | Action Allowed |
|---|---|---|
| 10 | Account still open | Only deposits allowed |
| 15 | Still under investment | Deposits continue |
| 18 | Withdrawal possible | 50% allowed for higher education |
| 21 | Maturity | Full amount paid |
Tax Benefits Under Sukanya Samriddhi Yojana
SSY offers a triple tax exemption (EEE status):
- Exemption 1: Investment amount (up to ₹1.5 lakh) deductible under Section 80C
- Exemption 2: Interest earned is completely tax-free
- Exemption 3: Maturity amount is also tax-free
This makes SSY one of the best tax-saving instruments for parents.
Comparison with Other Girl Child Saving Schemes
| Feature | Sukanya Samriddhi Yojana | PPF | Fixed Deposit (FD) |
|---|---|---|---|
| Interest Rate | 8.2% | 7.1% | 6-7% |
| Tenure | 21 years | 15 years | Flexible |
| Tax Benefit | Full EEE | EEE | Only on principal |
| Partial Withdrawal | Allowed at 18 | After 5 years | Restricted |
| Safety | Government-backed | Government | Bank-dependant |
| Best For | Girl Child Savings | General Savings | Short-term needs |
Why SSY is Ideal for Middle-Class Families
- Low Entry Point: Start with just ₹250 per month
- Guaranteed Returns: Backed by sovereign guarantee
- Perfect for Education/Marriage Planning: Funds available when the child needs it most
- Long-Term Growth: Compound interest adds exponential value
- Risk-Free: No market volatility or associated risk
The Sukanya Samriddhi Yojana is not just a savings scheme; it’s a commitment towards your daughter’s future. Whether it’s for her higher education or wedding, SSY empowers parents to start small and dream big. With tax benefits, high interest rates, and government security, SSY stands out as one of the best long-term investments for a girl child in India.
The interest rate and rules mentioned are as per the latest government notifications and are subject to periodic changes. Please consult your nearest Post Office or financial advisor before making any investment.
