Sukanya Samriddhi yojana for girl child – benefits, how to start

Sukanya Samriddhi Yojana is a government scheme targeted at the parents of girl children. Parents to build a fund for the future education of female children. The payment period for Sukanya Samriddhi Yojana account is 15 years. The maturity period of the account is 21 years. It is a girl child prosperity scheme. Minimum investment value is Rs 1.5 Lakh Per year. Currently yearly interest rate is 7.6 % per year. The Government of India launched Sukanya samarthi Yojana in 2015.

The aim of this scheme is to save girls and educate the girl child. It helps to stop gender discrimination against children. It helps to ensure survival and protection of girls. It provides higher participation of girls in education. It helps with the marriage of girl children. It helps to secure a bright future for the girl child in India. And facilitating the parents of a girl child building an amount for the education and marriage expenses of a girl child.

Any girl child can open this account. The girl child should be a resident of India from opening the account till the time of maturity. Girl children who are not over 10 years old can join this scheme. Parents or legal guardians can open this account. Only one account can be opened for one girl child. You can open this account in any post office or Bank. The Guardian or girl child may deposit the amount.

The account shall be mandatory to be operated by a girl child after the age of 18 years. Account can be opened for maximum two girl children in one family.


Birth certificate
Residential proof
Medical certificate for multiple girl children

Anytime between the birth of the girl child to the age of 10 years you can open an SSA account. You can deposit minimum Rs 250 to maximum Rs 1.5 lakhs in every financial year up to 15 years. You can deposit through cash, check, demand draft or online transfer. If you deposit above the maximum amount will not earn any interest and you can be withdrawn anytime. Shortage accounts shall be considered as accounts under default. The tenure of Sukanya samarthi Yojana is 21 years from the account opening date.

Sukanya Samriddhi account Matures after completion of 21 years and the balance including interest is paid to the child on submitting an application and proof of Identity ,residence and citizenship documents. If you want to close it prematurely because of marriage after a girl child attains the age of 18 years, you can submit it between one month prior to marriage and 3 months after marriage along with the age proof documents.

You can close this account prematurely due to the death of the girl child. Death certificate is necessary to close. You can close premachari in case of change in the status of girl child. If the girls i’ll be coming on resident a of india you can close the account within one month of the status change. After 5 years in case of any medical issues you can order for premature closure.

You can withdraw the money from this account for higher education if the child is 18 years old or completed 10th standard or for meeting the actual fee or other charges required at the time of admission. You can withdraw a maximum amount of 50 percent of the balance in SSA at the end of the financial year. You can transfer the balance in the sukanya Samridhi yojana account anywhere in india. This can be done upon furnishing proof of change of residence. This transfer can be made by fees Rs 100.

The rate of interest rate for the 2nd quarter of 2021 to 2022 has been kept unchanged at 7.6 percent. You will get certain tax benefits from this scheme. You can open a Suganya Samriddhi Yojana account with a bank or post office branch. Visit the Bank or post office branch. Fill the application form with details and provide supporting documents. Pay the first deposit. The amount can be anything from Rs 250 to Rs 1.5 lakhs. The post office or bank will process your application. You will get a passbook from there.

Sukanya Samriddhi Yojana is under the ministry of women and child development. You can’t apply for a Sukanya Samriddhi Yojana account online. You can open this account in banks.

Participating banks are :

State Bank of India
Bank of Baroda
Canara Bank
Andhra Bank
Allahabad Bank
Punjab and Sind Bank
Bank of India
Bank of Maharashtra
Dena Bank
Central Bank of India
Corporation Bank
Indian Overseas bank
UCO Bank
Indian Bank
Syndicate Bank
United Bank of India
Union Bank of India
Punjab National Bank
Oriental Bank of Commerce
Vijaya Bank
Axis Bank

You can pay online for Sukanya Samriddhi Yojana. You should download the IPPB application on your smartphone. You can set standing instructions. You can transfer the specified amount to your ssy account.

How to pay sukanya Samriddhi Yojana account online

Transfer money from bank account to the IPPB account
Go to DOP products and select SSY account
Enter SSY account number and customer ID.
Choose the amount you would like to pay.
IPPB will notify the success of setting up the payment routine.

You can deposit in an SSY account in either Financial year or regular installments.There is no restrictions on the number of deposits you can make in a month or can submit a filled withdrawal form with your SSY passbook to the post office or Bank. Upon maturity of the account, the amount will be paid to the girl child holding account. You can prematurely close the account after completion of 5 years of account opening. Only the girl child can withdraw the money from her SSY account.

If you miss out on paying for a year ,a penal charge of Rs 50 will be levied on missed minimum payment of Rs can withdraw 50%of account balance as previous Financial can claim tax benefits.

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