Sukanya Samriddhi Yojana

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Various schemes are run by the Government of India to make the future of girls bright and secure. Like Dear Daughter Yojana , Ladli Lakshmi Yojana, Cycle Assistance Yojana etc. Apart from this, savings schemes are run. Income tax exemption and higher interest rates are offered. So that people are encouraged to invest in these schemes and the future of daughters can be secured. Today we are going to give you information related to one such scheme launched by the central government. Its name is Sukanya Samriddhi Yojana .

Through Sukanya Samriddhi Yojana, the beneficiary can invest a large sum for his daughter’s education or marriage. Through this article you will get all important information regarding Sukanya Samriddhi Yojana. Apart from this, you will also get information related to eligibility, important documents and application by reading this article.

Sukanya Samriddhi Yojana 2023

Sukanya Samriddhi Yojana has been launched by the Government of India. This is a savings plan. To avail the benefits under this scheme, the account has to be opened before the daughter attains the age of 10 years. The minimum investment limit in this account is Rs 250 and the maximum limit is up to Rs 1.5 lakh. Citizens This investment can be made for daughter’s higher education or marriage. Through this scheme, the government will provide interest on the investment at the rate of 7.6%. Apart from this, tax exemption will also be given on investment under Sukanya Samriddhi Yojana. This scheme has been launched under Beti Bachao Beti Padhao Yojana .

  • Sukanya Samriddhi Yojana can be opened at any authorized post office branch or merchant branch. Sukanya Samriddhi account can be operated till the daughter turns 21 or gets married after 18 years. 50% amount can be withdrawn after 18 years of age for higher education of daughter.

Objective Of Sukanya Samriddhi Yojana 2023

The purpose of Sukanya Samriddhi Yojana is to advance girls in the field of education and not let them run out of money when marriage is suitable. Poor people of the country can easily open a savings account in the bank for their daughter’s education and marriage expenses. Minimum Rs. 250 for. From this SSY 2022 the girls of the country will be encouraged and able to advance. This scheme should prevent female-feticide.

Highlights Of Sukanya Samriddhi Yojana

Name of the schemeSukanya Samriddhi Yojana
Language of ArticleEnglish
Objective of the scheme
Various schemes
are run by the Government of India to make the future of girls bright and secure .
BeneficiaryAll eligible daughters of the country
When should the account be opened?To avail the benefits under this scheme,
the account has to be opened before the daughter attains the age of 10 years.
How many rupees can premium be paid?The minimum investment limit in this account is Rs 250
and the maximum limit is up to Rs 1.5 lakh.
Sukanya Samriddhi Yojana Interest RateUnder this scheme, the government
will provide interest at the rate of 7.6% on the investment.
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Sukanya Samriddhi Yojana in Highlights

Important Facts Of Sukanya Samriddhi Yojana 2023

As you all know that Sukanya Samriddhi Yojana has been launched by the government to secure the future of girls and for their education and marriage. Daughter’s future can be secured by investing under this scheme. Some of the features of this scheme are as follows.

  • Under Sukanya Samriddhi Yojana account can be opened for daughter below 10 years of age.
  • Account can be opened in any post office or bank.
  • Account can be opened for maximum two children of one family under this scheme.
  • Accounts can also be opened for three children of a family under certain special circumstances.
  • Under this scheme, an account can be opened for as little as Rs.250.
  • Under Sukanya Samriddhi Yojana, a minimum of Rs.250 and a maximum of Rs.1.5 lakh can be invested in 1 financial year.
  • An interest rate of 7.6% has been fixed under this scheme.
  • Tax exemption is also available under this scheme under Section 80C of the Income Tax Act.
  • The returns from this scheme are also tax free.
  • 50% amount can be withdrawn from Sukanya Samriddhi Yojana for daughter’s higher education also.
  • Sukanya Samriddhi Yojana 2021 is a central government small savings scheme for daughters.
  • Under this scheme, the beneficiary can open an account for their daughter in all these banks like Nationalized Bank, Post Office, SBI, ICICI, PNB, Axis Bank, HDFC etc.

Money Can Be Deposited Through Sukanya Samriddhi Yojana Digital Account.

Sukanya Samriddhi Yojana was launched by the Government of India for the education and marriage of girls. To pay money under this scheme, one has to go to the post office. But now digital account has been started by Indian Post Department . Money can be deposited in Sukanya Samriddhi Yojana account through this digital account. Now, like other banks, the service of Digital Saving Account has been started in the post office as well. Due to this digital account, account holders will no longer need to go to the post office to deposit money in the account. He can transfer money through his mobile.

You don’t even need to go to the post office to open this digital account. This account can be opened at home through Aadhaar card and PAN card and money can be transferred to any post office scheme.

An Account Opened Under Sukanya Samriddhi Yojana Will Not Default.

Sukanya Samriddhi Yojana was launched with the aim of securing the future of the daughter. Under this scheme regular amount is deposited by parents. This account has to be opened before the daughter turns 10 years old. A minimum investment of Rs 250 per year was mandatory to open a Sukanya Samriddhi Account . If this minimum amount is not deposited, the account goes into default. But now under the new rules of this scheme, even if the minimum amount is not deposited, the account will not be treated as default. In addition, interest will continue to be paid on the amount deposited in the account at the applicable rate till maturity.

How Many Daughters Can Benefit Under Sukanya Samriddhi Yojana?

Under Sukanya Samriddhi Yojana 2023 , only two daughters of a family can get the benefit. If a family has more than 2 daughters then only two daughters of that family can avail this scheme. But if a family has twin daughters then they will get the benefit of this scheme separately i.e. three daughters of that family can get the benefit. Twin daughters will be counted equally but benefited separately. Under Sukanya Samriddhi Yojana in Gujarati, people who want to deposit money for their daughter’s marriage and education can open an account for their daughter.

How Much Will Be Paid Each Year And For How Long?

   Under the Sukanya Samriddhi Yojana, earlier there was a provision of Rs 1000 per month. Which has now been reduced to Rs.250 per month. An investment of Rs.250 to Rs.150000 can be made under this scheme. Under this scheme, it will be mandatory to invest for 14 years after opening a bank account.

Sukanya Samriddhi Yojana Interest Rate

Sukanya Samriddhi Yojana was launched by Prime Minister Narendra Modi under the Beti Bachao Beti Padhao campaign. So that future of daughters can be secured. The investment made under this scheme can be used for marriage and education of the girl child. Sukanya Samriddhi account can be opened in post office and bank. Under Section 80C of the Income Tax Act, 1961, a tax benefit of up to 1.5 lakhs is provided under this scheme.

The interest rate under Sukanya Samriddhi Yojana was earlier fixed at 8.4%, which has now been reduced to 7.6%. After completion of the scheme or if the girl becomes NRI or Non-Citizen in this case no interest is paid. The interest rate is fixed by the government on a quarterly basis.

Interest Rate In SSY 2023

Financial YearInterest  rate
From April 1, 20149.1%
From April 1, 20159.2%
From April 1, 2016 -June 30, 20168.6%
From July 1, 2016-September 30, 20168.6%
From October 1, 2016-December 31, 20168.5%
From January 1, 2018 – March 31, 20188.3%
From April 1, 2018 -June 30, 20188.1%
From July 1, 2018 -September 30, 20188.1%
From October 1, 2018 – December 31, 20188.5%
From July 1, 20168.4%
1 April 2020 to 30 June 20217.6
Interest Rate in SSY 2023

Sukanya Samriddhi Yojana Loan

Loans can be availed under various PPF schemes run by the government. But under Sukanya Samriddhi Yojana one cannot avail loan like other PPF Yojana. But if the girl has completed 18 years, the parents can withdraw from the scheme account. Only 50% of this withdrawal can be made. Withdrawals made under Sukanya Samriddhi Yojana can be made for the betterment of the girl child. This amount can be used for the girl’s marriage, higher education etc.

Sukanya Samriddhi Yojana Account Transfer

Under Sukanya Samriddhi Yojana, the account can be transferred from one post office to another post office or from one bank to another bank. To transfer this account, you have to follow the below procedure.

  • First, you have to go to the post office or bank with your updated passbook and KYC documents. It is not necessary for the girl to be present during the transfer.
  • After this, you have to submit your Sukanya Samriddhi Yojana in Gujarati account passbook and KYC document to your bank or post office and inform your bank and post office that you have to transfer your account.
  • The manager will then close your account at the old post office or bank and give you a transfer request. Apart from this you will be asked for all necessary documents.
  • Now you have to take this transfer request and go to the new post office or bank account and submit all these documents there.
  • You also have to submit KYC documents for proof of identity and address.
  • You will now be issued a new passbook showing your balance.
  • After this, you can operate Sukanya Samriddhi Yojana account from your new account.

Changes Made In Sukanya Samriddhi Yojana

Five changes have been made by the government under this scheme. Which is very important for you to know. We have provided information about these five changes below. Please read this information carefully.

Higher Interest Rates On Defaulted Accounts

Under the Sukanya Samriddhi Yojana, if an individual does not deposit at least Rs 250 in the Sukanya Samriddhi account in a year, it is considered as account default. As per the new rule notified by the government on December 12, 2019, now the same rate of interest will be given on the amount deposited in such default account as fixed under the scheme. Along with this, 8.7% interest rate will be available on Sukanya Samriddhi Yojana Account and 4% on Post Office Savings Account.

Change In Premature Account Closure Rules

According to this new rule, the account can be closed before maturity on the death of the girl child under this scheme or on compassionate grounds. Compassion refers to a situation in which the account holder has to seek treatment for a life-threatening illness or the death of a guardian. In such a situation, the bank account can be closed before maturity.

Opening Account For More Than Two Girls

As per the new rule under this scheme, if a person has to submit additional documents for opening an account of more than two daughters, now you have to submit an affidavit along with the birth certificate of the daughter.

New Update (December) Sukanya Samriddhi Yojana

Nine types of savings schemes are operated by India Post. Which is known as Post Office Saving Scheme. These 9 types of schemes are Post Office Savings Account, Post Office Time Deposit Account, Post Office Monthly Income Scheme, Public Provident Fund, Sukanya Samriddhi Yojana, National Savings Certificate, Post Office Time Deposit for 5 years, Kisan Vikas Patra and Senior Citizen Savings. Plan includes. The interest rate of all these savings schemes is revised by the government from time to time. Under Sukanya Samriddhi Yojana, interest is currently 7.6 percent.

Maximum two daughters of a family can avail this scheme. Under this scheme, when the child reaches the age of 21 years, he can get the maturity amount. If it is assumed that the interest rate under this scheme will remain at 7.6 per cent in future also, it will take 9.4 years to double the amount deposited under this scheme.

Documents Required Of SSY 2023

Following documents are required for opening a new account under Sukanya Samriddhi Yojana.

  • To open an account under this scheme, the age of the girl child should be less than 10 years.
  • aadhar card
  • Photo of child and parents
  • Birth certificate of girl child
  • Proof of residence
  • Depositor (Parent or Legal Guardian) i.e. PAN Card, Ration Card, Driving License

Important Documents For Opening Sukanya Samriddhi Account

  • application
  • Girl’s birth certificate
  • ID proof of the depositor
  • Residence certificate of the depositor
  • Medical certificate
  • Other documents as requested by the bank or post office.

Account Opening Rules In Sukanya Samriddhi Yojana

An account under Sukanya Samriddhi Yojana can be opened by parents or legal guardians of the daughter. This account can be opened from the birth of the daughter till she turns 10 years old. Only one account can be opened for a daughter under Sukanya Samriddhi Yojana and the birth certificate of the daughter has to be deposited in the post office or bank while opening the account. Along with this, other important documents like identity card and proof of address also have to be submitted.

Sukanya Samriddhi Yojana Passbook

  • After opening a Sukanya Samriddhi account, a pass book is also provided to the applicant.
  • Date of account opening, date of birth of girl child, account number, name of account holder, address and amount deposited are recorded on this passbook.
  • This passbook has to be deposited in the bank or post office while depositing money in the account, receiving interest payment.
  • This passbook is also used while closing the account.

How Many Daughters Can Benefit Under Sukanya Samriddhi Yojana?

Under Sukanya Samriddhi Yojana 2022, only two daughters of a family can get the benefit. If a family has more than 2 daughters then only two daughters of that family can avail this scheme. But if a family has twin daughters then they will get the benefit of this scheme separately i.e. three daughters of that family can get the benefit. Twin daughters will be counted equally but benefited separately. Under this scheme people who want to deposit money for their daughter’s marriage and education can open an account for their daughter.

Up To What Age Can An Account Be Opened Under Sukanya Samriddhi Yojana ?

Under Sukanya Samriddhi Yojana, a bank account can be opened for a daughter aged 0 to 10 years. Under this scheme, a bank account cannot be opened if the daughter is above 10 years of age. The account will be managed by the parent or guardian of the daughter.

How To Deposit Money In Sukanya Samriddhi Yojana Account?

Sukanya Samriddhi Yojana 2022 account amount can be deposited through cash, demand draft or through electronic transfer mode in post office or bank which has core banking system. Any person can deposit money in his daughter’s account in all these simple ways.

Sukanya Samriddhi Yojana Account Reopening Process

As you all know Sukanya Samriddhi Yojana was launched by Government of India under Beti Bachao Beti Padhao Yojana. Account can be opened under this scheme for daughter’s education and marriage before the age of 10. This is a very popular scheme. Under the Sukanya Samriddhi Yojana, a minimum amount of Rs.250 per year and a maximum amount of Rs.1.5 lakh can be deposited in the account. It is mandatory for the beneficiary to deposit Rs.250 every year to maintain this account. If the beneficiary has not deposited the amount of Rs.250 in any year, his account will be closed.

  • Account can be activated after account closure. For this the beneficiary has to go to the bank or post office wherever their account is opened. After this, the beneficiary has to fill and submit the account revival form and pay the balance.
  • Suppose you don’t pay Rs.250 for 2 years, then you have to pay Rs.500 and pay a penalty of Rs.50 every year. Penalty will be Rs 100 for 2 years. So if you have not paid the minimum amount in Sukanya Samriddhi Yojana account for 2 years, you need to pay at least Rs. 600 has to be paid. Of this, Rs. 500 will be for a minimum amount of two years and Rs. 100 will be two years penalty.

SSY Scheme 2023

After opening an account under SSY Scheme, the account can be operated after the girl turns 18 or till she gets married after she turns 21. Under SSY 2022, a person can withdraw 50% of the total amount deposited for his daughter’s education after she turns 18 and after the daughter turns 21, the entire amount for marriage, which is deposited by the beneficiary. The amount paid and the interest paid by the agency will also be included. This account will mature only after the daughter turns 21.

Sukanya Samriddhi Yojana Bank List

There are a total of 28 banks authorized by the Reserve Bank of India (RBI) to open Sukanya Samriddhi Yojana accounts. Users can open an SSY account in any of the following banks and avail the scheme.

Bank NameWebsite Link
State Bank of India (SBI)  Click Here
Bank of India (BOI)  Click Here
Andhra Bank  Click Here
Canara Bank  Click Here
State Bank of Patiala (SBP)  Click Here
Punjab National Bank (PNB)  Click Here
Allahabad Bank  Click Here
Bank of Maharashtra (BOM)  Click Here
Bank of Baroda (BOB)  Click Here
State Bank of Bikaner and Jaipur (SBBJ)  Click Here
Corporation Bank  Click Here
Indian Overseas Bank (IOB)  Click Here
Central Bank of India (CBI)  Click Here
Axis Bank  Click Here
Central Bank of India (CBI)  Click Here
Dena Bank  Click Here
State Bank of Mysore (SBM)  Click Here
Indian Bank  Click Here
IDBI Bank  Click Here
ICICI Bank  Click Here
Syndicate Bank  Click Here
State Bank of Travancore (SBT)  Click Here
Oriental Bank of Commerce (OBC)  Click Here
State Bank of Hyderabad (SBH)  Click Here
Punjab and Sindh Bank (PSB)  Click Here
Union Bank of India UCO BankClick Here
United Bank of India  Click Here
Vijay Bank  Click Here
Sukanya Samriddhi Yojana Bank List

Sukanya Samriddhi Yojana Calculator

  • Your maturity amount can be calculated through the Sukanya Samriddhi Yojana calculator.
  • The calculator will provide the maturity amount using details such as the annual investment and the interest rate you specify.
  • If the minimum amount is not deposited by the depositor in any year, the account will be in default in this situation. Rs. Account can be reactivated by paying a penalty of 50.
  • If the depositor has deposited more than the maximum amount, no interest will be paid on the excess amount.

Income Tax Benefits Of PM Kayna Yojana

Under Section 80-C of the Income Tax Act, 1961, the deposit amount, interest amount and maturity amount in Sukanya Samriddhi Yojana are exempted from tax. The government has exempted the contribution made under this scheme, which is up to Rs.150000 per annum.

Sukanya Samriddhi Yojana Tax Benefits

  • As per the Income Tax Act, all investments made under this scheme are eligible for the benefit of tax deduction. A maximum tax deduction of 1.5 lakhs is admissible from SSY.
  • Under this scheme, interest is accrued, which is credited to the account annually. There is no tax on this earned/accumulated interest. It allows the maximization of funds under the scheme.
  • Tax-exemption can be claimed by parents or legal guardians of the girl child. Only one depositor is eligible for tax exemption under Section 80C of the Income Tax Act.

SSY Sukanya Samriddhi Yojana Maturity And Partial Withdrawal

Some people believe that Sukanya Samriddhi account matures at the age of 21. But this is completely wrong. The age of the girl has nothing to do with the maturity of the account. However, the account holder can withdraw the amount only when he reaches the age of 18 and the amount is used for higher studies or marriage. After that the account will be closed. Also allows premature closure of account in case of death of account holder on production of death certificate issued by competent authority. The balance is then credited to the guardian and the account is closed.

Under What Circumstances Can Sukanya Samriddhi Account Be Closed Before Maturity?

Sukanya Samriddhi Yojana account can be closed if the account holder dies . In this case, it will be mandatory to show the death certificate of the account holder. After which the amount deposited in this account along with interest will be returned to the daughter’s guardian. Apart from this, the Sukanya Samriddhi Yojana account can be closed for any reason even after 5 years of opening. 50% amount can also be withdrawn from the account for daughter’s education. This withdrawal can be done only after the daughter turns 18.

What Happens If The Deposit Is Not Made Under Sukanya Samriddhi Yojana?

If for any reason the account holder is unable to deposit the amount under Sukanya Samriddhi Yojana, he will have to pay a penalty of Rs.50 per annum, along with a minimum amount every year. If the penalty is not paid, the Sukanya Samriddhi Yojana account will earn an interest rate equal to 4 percent of the savings account.

Download Sukanya Samriddhi Yojana Form

  • Interested beneficiaries who want to apply for opening a savings account under this scheme, they have to first download the Sukanya Samriddhi Yojana Account Opening Form.
  • After this, all the required information has to be filled in the application form. After filling all the information, all your required documents have to be attached with the form.
  • Then the application form and documents have to be submitted along with the amount to the desired bank and post office.
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Download Sukanya Samriddhi Yojana Form

Guidelines For Sukanya Samriddhi Yojana

  • Sukanya Samriddhi Yojana was launched with the aim of ensuring a bright future for the girl child of the country.
  • Deduction is also provided under Income Tax Act 80C under this scheme. Under this scheme, an account is opened in the name of the daughter.
  • This account is opened before the daughter turns 10 years old.
  • Only two accounts can be opened per family.
  • A minimum investment of Rs 250 per annum has to be made to open an account under this scheme.
  • If the minimum investment is not made, the account will default.
  • A default account can be reopened within 15 years.
  • For which a minimum amount of 250 rupees has to be deposited for each year of default.
  • The maximum deposit limit under this scheme is Rs.150000.
  • 7.60% interest is paid by the government on the invested amount.
  • For girl child education, 50% of the amount can be withdrawn before the maturity of the account and 50% of the amount can be withdrawn after the girl child attains the age of 18 years.
  • Sukanya Samriddhi matures after a period of 21 years from the date of account opening.
  • This account can be closed when the girl is married.

Benefits Of Pm Kanya Yojana 2023

  • The benefits of this scheme will be given to girls under 10 years of age in the country.
  • Under Sukanya Samriddhi Yojana, parents of a girl child can open a savings account for her. Until the girl is 10 years old.
  • A maximum of Rs 1.5 lakh can be deposited under this scheme during the current financial year.
  • Under PM Kanya Yojana 2021, you can easily secure the future of your girls.
  • It will help in your girl’s education or marriage.
  • You can easily initiate this scheme at any bank or post office.
  • This scheme is beneficial for both the girl child and her parents/guardians as it helps both.
  • A guardian or natural parent is allowed to open an account under this scheme for only two girls.
  • The holder can deposit money in the account till the girl child completes fourteen years from the date of opening the account.

Sukanya Samriddhi Yojana Balance Check

Sukanya Samriddhi Yojana was launched by the Government of India. Under which 7.6 percent interest is given on the investment. Sukanya Samriddhi Yojana passbook can be accessed both online and offline. You can check your account balance very easily under Sukanya Samriddhi Yojana. Currently, more than 25 banks are providing Sukanya Samriddhi Yojana accounts. You have to open your account in these banks. After this the passbook will be given to you by the bank. You can check your account balance under Sukanya Samriddhi Yojana through Passbook. This account balance can be checked digitally or through an account statement. To check key account balance you have to follow below procedure.

  • First you need to request your bank to provide you login credentials.
  • These login credentials are not provided by all banks. Only few banks provide this facility.
  • After receiving the login credentials, you will need to login to the internet banking portal of the bank.
  • After this the home page will open in front of you.
  • Now you have to click on Confirm Balance option.
  • This is the only means through which Sukanya Samriddhi account balance can be checked.

Procedure To Reinstate Default Account

As you all know, minimum investment of Rs.250 in Sukanya Samriddhi account is mandatory. If the minimum investment of Rs.250 is not made by the account holder, then the account is considered as defaulter. Account can be revived after default of account. Account can be revived up to 15 years from the date of opening of account. To revive the account, you have to make a minimum investment of Rs.250 for all the years in which you have not made the minimum investment and pay a penalty of Rs.50 per annum. After making this payment, your account will be revived.

FAQ’s Of Sukanya Samriddhi Yojana

How much rupees can be invested under Sukanya Samriddhi Yojana?

In this scheme for daughters of the country, one can invest from Rs.250 to Rs.150000.

Upto what age can account be opened under Sukanya Samriddhi Yojana Online?

Bank account can be opened for daughters aged 0 to 10 years under Sukanya Samriddhi Yojana. Under this scheme, a bank account cannot be opened if the daughter is above 10 years of age. This account will be managed by the parents or guardian of the daughter.

Will Sukanya Samriddhi Yojana be eligible for any benefit in income tax?

Deduction under 80C of the Income Tax Act is also provided under the Sukanya Samriddhi Yojana scheme. Under this scheme, an account is opened in the name of the daughter.

How many years is mandatory to invest in SSY 2022?

It will be mandatory for the daughter to invest for 14 years after opening a bank or post account under Sukanya Samriddhi Yojana.

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