How to Apply Sukanya Samriddhi Yojana (SSY) Scheme

The Sukanya Samriddhi Yojana (SSY) is one of the most popular and high-return government savings schemes for the girl child in India. Launched under the Beti Bachao, Beti Padhao initiative, this scheme not only promotes financial security for daughters but also offers attractive interest rates, tax benefits, and guaranteed returns, making it a favorite among parents and guardians.

In this detailed guide, you will learn how to apply for Sukanya Samriddhi Yojana, eligibility criteria, documents required, benefits, interest rate, tax advantages, and frequently asked questions—all explained in simple language.

What Is Sukanya Samriddhi Yojana (SSY)?

The Sukanya Samriddhi Yojana is a small savings scheme backed by the Government of India designed exclusively for the welfare of girl children. Parents or legal guardians can open an SSY account in the name of their daughter to build a long-term corpus for education and marriage expenses.

This scheme is considered one of the best long-term investment options in India, especially for families planning disciplined savings.

Key Features of Sukanya Samriddhi Yojana

• 📌 High interest rate compared to other savings schemes
• 📌 Tax exemption under Section 80C
• 📌 Guaranteed returns backed by the Government of India
• 📌 Long-term wealth creation for girl child
• 📌 Partial withdrawal allowed for education

Eligibility Criteria for Sukanya Samriddhi Yojana

Before applying, make sure you meet the following eligibility conditions:

1. The account must be opened in the name of a girl child.
2. The girl child must be below 10 years of age at the time of account opening.
3. Only one account per girl child is allowed.
4. A family can open a maximum of two SSY accounts (exceptions apply in case of twins).
5. The account can be opened by a parent or legal guardian.

Sukanya Samriddhi Yojana Interest Rate

The SSY scheme offers a higher interest rate than most bank fixed deposits. The interest rate is not fixed permanently and is revised quarterly by the Government of India.

👉 Interest is compounded annually, helping the investment grow significantly over time.

This high interest rate is one of the main reasons SSY is considered a high-return government investment scheme.

Minimum and Maximum Deposit Limits

• Minimum deposit: ₹250 per year
• Maximum deposit: ₹1.5 lakh per year
• Deposits can be made for 15 years from the date of account opening.
• Account matures after 21 years or upon marriage of the girl child (after 18 years of age).

Documents Required to Apply for SSY

To open a Sukanya Samriddhi account, you need the following documents:

• Birth certificate of the girl child
• Aadhaar card of parent/guardian
• Identity proof (PAN, Voter ID, Passport)
• Address proof (Aadhaar, Electricity Bill, Ration Card)
• Passport-size photographs
• SSY account opening form

How to Apply for Sukanya Samriddhi Yojana (Step-by-Step)

Step 1: Choose Where to Open the Account

You can open an SSY account at:

• Post Offices
• Authorized banks (SBI, PNB, BOI, HDFC, ICICI, etc.)

Step 2: Get the SSY Application Form

• Collect the form from the bank/post office
• Or download it online and fill it manually

Step 3: Fill in Required Details

Enter details such as:

• Girl child’s name and date of birth
• Parent/guardian information
• Address and contact details
• Initial deposit amount

Step 4: Submit Documents

Attach photocopies of required documents and submit them along with the form.

Step 5: Make Initial Deposit

Deposit a minimum of ₹250 to activate the account.

Step 6: Receive Passbook

Once verified, you will receive an SSY passbook with account details.

How to Apply Sukanya Samriddhi Yojana Online

Currently, full online account opening is not available, but many banks offer partial online services, such as:

• Downloading SSY application forms
• Making online deposits through net banking
• Tracking account balance digitally

For complete activation, you must visit the bank or post office.

Tax Benefits of Sukanya Samriddhi Yojana

SSY falls under the EEE (Exempt-Exempt-Exempt) category:

1. Investment qualifies for deduction under Section 80C (up to ₹1.5 lakh)
2. Interest earned is completely tax-free
3. Maturity amount is also tax-free

Because of these benefits, SSY is one of the best tax-saving investment schemes in India, making it attractive for high-income taxpayers.

Withdrawal Rules in SSY

• Partial withdrawal up to 50% is allowed after the girl turns 18 years for education.
• Full withdrawal is allowed:
  • After 21 years, or
  • At the time of marriage (after 18 years)

Premature Closure Conditions

SSY account can be closed early under special circumstances such as:

• Death of the account holder
• Severe medical conditions
• Financial hardship (subject to approval)

Benefits of Sukanya Samriddhi Yojana

• ✔ Safe and secure government-backed scheme
• ✔ Ideal for long-term financial planning
• ✔ Encourages disciplined savings
• ✔ Best scheme for girl child future education
• ✔ High interest with zero risk

Who Should Invest in Sukanya Samriddhi Yojana?

SSY is ideal for:

• Parents planning their daughter’s education and marriage
• Taxpayers looking for secure tax-saving options
• Families preferring risk-free long-term investments

Apply Link 

Conclusion

The Sukanya Samriddhi Yojana (SSY) is one of the most rewarding government schemes available today for securing a girl child’s future. With high interest rates, powerful tax benefits, and guaranteed returns, SSY stands out as a smart and responsible financial decision for Indian families.

If you are eligible, opening an SSY account early can help you build a strong financial foundation for your daughter’s dreams.