The Sukanya Samriddhi Yojana (SSY) is a flagship girl child savings scheme launched by the Government of India to support the education and marriage expenses of daughters. With attractive interest rates and tax benefits, this scheme helps parents secure their girl child’s future financially.
Key Features of Sukanya Samriddhi Yojana
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Minimum & Maximum Investment:
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Minimum Deposit: ₹250 per year
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Maximum Deposit: ₹1.5 lakh per year
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Account Tenure & Maturity:
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The scheme matures after 21 years.
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Partial withdrawals (up to 50%) are allowed after the girl turns 18 for higher education.
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Interest Rate (2024):
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The current SSY interest rate is 8.2% (compounded annually).
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Tax Benefits:
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Deposits qualify for Section 80C deductions (up to ₹1.5 lakh per year).
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Interest earned and maturity amount are tax-free (under Section 10).
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How Much Will You Get at Maturity?
| Monthly Deposit | Total Deposit (15 Years) | Interest Earned | Maturity Amount (21 Years) |
|---|---|---|---|
| ₹500 | ₹90,000 | ₹1,87,103 | ₹2,77,103 |
| ₹1,000 | ₹1,80,000 | ₹3,74,206 | ₹5,54,206 |
(Calculations based on current interest rates)
Where Can You Open an SSY Account?
You can open an SSY account at:
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Post Offices
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Authorized Banks (SBI, HDFC, ICICI, etc.)
Documents Required:
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Birth certificate of the girl child
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Parents’ ID & address proof (Aadhaar, PAN, Voter ID)
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Passport-sized photographs
Who Can Open an SSY Account?
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Parents/legal guardians of a girl below 10 years.
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Maximum two accounts per family (except for twins/triplets).
Fact Check: Is SSY a Good Investment?
High Interest (8.2%) – Better than most FDs & savings schemes.
Tax-Free Returns – No tax on maturity.
Government-Backed – Safe & secure investment.
Conclusion
The Sukanya Samriddhi Yojana is one of the best investment options for parents planning for their daughter’s future. With high returns, tax benefits, and flexible withdrawals, it ensures financial security for girls in India.
Open an SSY account today and secure your daughter’s future!