Sukanya Samriddhi Scheme – In Detail

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Sukanya Samriddhi Scheme

Sukanya Samriddhi Yojana: The Sukanya Smriddhi Yojana or SSY is a savings scheme exclusively for the girl child was launched by Prime Minister Mr. Narendra Modi in the year 2015. Only a legal guardian or parent can open an account in the name of a girl child until she attains 10 years age. This scheme is aimed at encouraging the parents/guardians to build a fund for their education and marriage expenses. Basically, it is a part of ‘BetiBachao, BetiPadhao’ initiative. The account can be opened at any India Post Office or it can be in a branch of some authorized commercial banks. The rate of interest offered is 8.1% yearly and a minimum deposit is Rs.1,000; the maximum is Rs. 1.5 lakh. SSY account also offers tax-deduction for up to Rs. 1.5 lakh under section 80C.  Lastly, the account matures at 21 years of age.   

Sukanya Samriddhi Account – The Eligibility Criteria 


  • The account can be opened by a parent/legal guardian of the girl child.  
  • A family can open ONLY 2 Sukanya Samriddhi Account. 
  • Only 1 account is allowed for a girl child. 
  • Last, the girl child must be ‘Below’ the age of 10 year.  

Sukanya Samriddhi Yojana – How to Invest? 

Documents Required: 

  • Birth Certificate of the Applicant 
  • Address prof of applicant parent/legal guardian 
  • Photo ID of applicant parent/legal guardian 
  • Other KYC proofs such as Voter ID, PAN Card, etc. 

The Process 

  1. Download the application form from either RBI website, Indian Post website, participating public sector and private bank’s official website 
  2. Fill up the form with key details of the girl child and a parent or legal guardian. Following are the key mandatory fields to be filled in Sukanya Samriddhi Yojana, scheme form 
  3. Primary Account Holder- Name of Girl Child 
  4. Joint Holder- Name of A parent or legal guardian 
  5. Initial deposit amount 
  6. Cheque/DD Number and Date for the initial deposit 
  7. Date of Birth of girl child along with Birth Certificate details 
  8. Identity of Parent or legal guardian such as Driving License, Aadhaar, etc. 
  9. Present and Permanent Address (as per ID document of the parent or legal guardian) 
  10. Details of other KYC proofs such as PAN, Voter ID card, etc 

Source: https://groww.in/p/savings-schemes/sukanya-samriddhi-yojana/  

Also, you can take a look at some of he Government scheme here for your investment: Here:  

  • National Pension Scheme: National Pension Scheme or NPS is a retirement saving scheme which is open for all Indians, but compulsory for the government employees. It aims to provide retirement income to all Indians. NRIs and Indian citizens in the age group of 18-60 years are eligible for this scheme, and can allocate the funds in corporate bonds, government securities, and equity. Investments up to Rs. 50,000 are liable for tax-deduction under section 80CCD(1B). Additional investments up to Rs. 1,50,000 are tax-deductible under 80C. If you are investing for 3 years, you can withdraw up to 25% for certain criterion (higher studies, buying a house, children wedding, medical treatment, and others).   
  • Public Provident Fund: Public Provident Fund or PPF is one of the oldest retirement schemes launched by the Indian Government. The amount invested, amount withdrawn, and interest earned is exempted from tax. PPF is not only safe, but also helps in saving the tax. The PPF account can be opened in post office or bank; the lock-in-period is for 15 years. The minimum investment is Rs. 500 and maximum is Rs. 1.5 lakh. The account can be opened with Rs. 100.   
  • National Savings Certificate: National Saving Certificate or NSC is a fixed income-investment scheme which you can open in any post office. You can buy it for a minor/ or with another adult as a joint-account. NSC comes with two maturity periods – 5 and 10 years and there is no maximum limit of NSCs, but you can earn tax-break up to Rs. 1.5 lakh under section 80C. Currently, the rate of interest is 8%. 

Source: https://www.gulaq.com/government-investment-schemes-a-go-through/ 


*Disclaimer: investment in securities market are subject to market risks, read all the related documents carefully before investing


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