Sukanya Samriddhi Yojana scheme: KEY benefits, investment process, eligibility

The Sukanya Samriddhi Yojana is designed to improve lives and fulfill the dreams of India’s daughters under the Beti Bachao, Beti Padhao campaign. This scheme covers the education, marriage, and higher education expenses for girls, and the government bears the associated costs.

Sukanya Samriddhi Yojana is a savings scheme where parents of girls under 10 years can invest to secure and enhance their daughters’ future. The government allows investments ranging from ₹250 to one and a half million rupees in this scheme. Specifically tailored for girls, this scheme not only secures their future but also covers essential expenses that may arise during their growing years.

Sukanya Samriddhi Yojana Scheme:

In this scheme, parents can invest for up to 15 years to facilitate their daughter’s marriage, education, and other expenses. Any resident of India can open a Sukanya Samriddhi Yojana account in the name of their daughters. Now, let’s delve into some key aspects of the Sukanya Samriddhi Yojana to make it easier for you to understand and derive maximum benefits for your daughters.

Features of Sukanya Samriddhi Yojana:

  1. Maturation Period:
    The maturity period for Sukanya Samriddhi Yojana is 21 years. This means that when your daughter turns 21, she can independently manage her account. However, you are required to invest in the scheme for only 15 years.
  2. Investment Amount:
    Parents can invest a minimum of ₹1,500 and a maximum of ₹1.5 million annually in the Sukanya Samriddhi Yojana. The scheme offers an annual interest rate of 8%.
  3. Mode of Investment:
    You can deposit money monthly or annually into the Sukanya Samriddhi Yojana. The interest earned on the investment is entirely tax-free.
  4. Maturity Benefits:
    After the maturity period, you will receive the principal amount along with the accrued interest. The scheme not only provides financial security but also ensures tax benefits.

Opening an Account:

To open a Sukanya Samriddhi Yojana account, visit your nearest post office or a bank branch that accepts the scheme’s application form. You can deposit money through cash, check, demand draft, or online E-transfer.

Banks Offering Sukanya Samriddhi Yojana:

  • Indian Bank
  • State Bank of India
  • Bank of Maharashtra
  • Punjab and Sind Bank
  • Indian Overseas Bank
  • UCO Bank
  • IDBI Bank
  • Bank of Baroda
  • HDFC Bank
  • Canara Bank
  • Central Bank of India
  • Axis Bank
  • Union Bank of India
  • Punjab National Bank
  • ICICI Bank

For online transactions, you can also explore the Sukanya Samriddhi Yojana online portal.

Sukanya Samriddhi Yojana Benefits – What are the benefits of the Sukanya Samriddhi Yojana?

  • An account can be opened in the name of a girl child under 10 years old.
  • Parents can invest a minimum of INR 250 and a maximum of up to INR 1.5 lakh per annum for their girl child under the Sukanya Samriddhi Yojana.
  • Sukanya Samriddhi Yojana, being a government initiative, not only ensures security but also offers attractive benefits.
  • Transferring the Sukanya Samriddhi account from one part of the country to another is possible. Continuing the account post-maturity allows you to earn interest.
  • At the age of 18, a facility is provided by the Indian government to withdraw 50% of the amount for the girl child’s higher education.
  • Parents who have adopted a girl child can also invest in this scheme.
  • In Sukanya Samriddhi Yojana, you are required to pay premiums for 15 years, and the maturity period is fixed at 21 years.
  • For the financial year 2023-24, the interest rate for this scheme is set at 8%.
  • Once the girl child turns 18, she can manage her account independently and make decisions related to it.

Eligibility for Sukanya Samriddhi Yojana:

  • Only parents or legal guardians can invest in the scheme.
  • The girl child must be less than 10 years old.
  • Only two accounts can be opened in one family.
  • It is not allowed to open more than one Sukanya Samriddhi account for a girl child.
  • In the case of twin girls as the second birth after the first daughter, a third account can be opened.

How to apply for Sukanya Samriddhi Yojana 2023:

  1. Visit your nearest post office or any bank branch.
  2. Fill out the application form for investment.
  3. Attach the required documents.
  4. Provide information for those investing on behalf of the girl child.
  5. Submit the form with photocopies of documents.
  6. Deposit the form and premium amount in the post office or bank.

Required Documents:

Birth certificate of the girlProof of age
Residential proofFor The Confirmation of residence
Parents’ PAN card and Aadhar cardIdentification of parents
Mobile numberContact information


  1. Minimum Investment:
    • Parents or guardians can invest a minimum of INR 250.
  2. Loan on Remaining Amount:
    • No, there is no provision for a loan on the remaining amount. Withdrawal of up to 50% is possible after the girl child turns 18.
  3. Initiation of Sukanya Samriddhi Yojana:
    • Sukanya Samriddhi Yojana (SSY) was initiated by the former Prime Minister of India, Shri Narendra Modi, in 2015.
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