Sukanya Samriddhi Yojana (SSY): Eligibility, Benefits, and How to Apply in 2025
Sukanya Samriddhi Yojana (SSY) is a central government small savings scheme designed exclusively for the financial security of girl children in India, currently offering 8.2% interest per annum for FY 2025–26. Launched under the Beti Bachao Beti Padhao campaign and administered by the Ministry of Finance through India Post and authorised banks, SSY gives parents a long-term, tax-free savings instrument for their daughter's education and marriage expenses. Accounts can be opened at any authorised bank branch or post office, this page covers the current interest rate, eligibility, documents, how to open an account, and how to estimate your maturity amount.
What is Sukanya Samriddhi Yojana?
Sukanya Samriddhi Yojana (SSY) is a government-backed small savings scheme launched on 22 January 2015 under the Beti Bachao Beti Padhao campaign by the Ministry of Finance, Department of Economic Affairs. The scheme was introduced to create a dedicated, high-interest savings instrument for parents of girl children, helping them build a corpus for higher education and marriage expenses over a long horizon.
SSY operates as a sovereign-guaranteed savings account, not a market-linked investment, making it one of the safest long-term savings options available in India. The account earns interest at a rate set by the Government of India, revised quarterly, and currently fixed at 8.2% per annum (compounded annually) for FY 2025–26. Deposits made into the account, interest earned, and the maturity amount are all exempt from income tax under Section 80C and Section 10 of the Income Tax Act, making SSY a fully EEE (Exempt-Exempt-Exempt) instrument. The scheme was last significantly revised in 2019 and 2023, when rules around premature closure and partial withdrawal were updated.
Eligibility Criteria
| Criterion | Requirement |
|---|---|
| Who can open the account | Parent or legal guardian of a girl child |
| Girl child's age at account opening | Must be below 10 years |
| Citizenship | Girl child must be an Indian citizen and resident |
| Maximum accounts per family | One account per girl child; maximum two accounts per family (three allowed in case of twin/triplet girls at second birth) |
| NRI eligibility | NRI girls are not eligible; if the girl becomes an NRI or non-citizen after account opening, the account must be closed |
| Minimum deposit to keep account active | ₹250 per financial year (account becomes inactive if minimum not deposited) |
Benefits of the Scheme
| Benefit Type | Amount / Description | Applicable Category |
|---|---|---|
| Interest rate (FY 2025–26) | 8.2% per annum, compounded annually | All SSY account holders |
| Annual deposit range | Minimum ₹250 / Maximum ₹1,50,000 per financial year | All account holders |
| Tax deduction on deposit | Up to ₹1.5 lakh per year under Section 80C | Parent / guardian filing ITR |
| Tax on interest earned | Fully exempt, no TDS | All account holders |
| Tax on maturity amount | Fully exempt under Section 10 | All account holders |
| Partial withdrawal | Up to 50% of balance at end of previous financial year, allowed after girl turns 18 | For higher education expenses only |
| Premature closure | Allowed after 5 years in cases of life-threatening illness or death of account holder / guardian | Exceptional cases only |
| Account maturity | 21 years from date of account opening, or on girl's marriage after age 18 | All account holders |
| Sovereign guarantee | Backed by Government of India, no market risk | All account holders |
How to Apply for SSY (Step-by-Step)
Online Application — via Official Portal
- 1Visit any branch of an authorised bank (SBI, Bank of Baroda, PNB, Canara Bank, HDFC Bank, ICICI Bank, Axis Bank, etc.)
- 2Request the SSY account opening form or download it from the bank's official portal
- 3Submit the completed form along with required KYC documents and initial deposit
- 4For existing customers, banks like SBI, HDFC, and ICICI permit managing and funding SSY accounts through net banking/mobile app post-branch KYC
Offline Application — via Designated Centre
- 1Visit your nearest India Post branch with original KYC documents and photocopies
- 2Request the SSY account opening form (Form-1) at the post office counter
- 3Fill in girl child details, parent/guardian details, and nominee information
- 4Make the initial deposit (minimum ₹250, maximum ₹1,50,000) via cash, cheque, or demand draft
- 5Collect your official SSY passbook for tracking future contributions and interest credits
Required Documents
| Document | Purpose |
|---|---|
| Girl child's birth certificate | Mandatory proof of age (must be below 10 years) |
| Parent's / guardian's Aadhaar card | Identity proof for account opening |
| Parent's / guardian's PAN card | Required by authorised banks; may be needed for deposits above ₹50,000 |
| Parent's / guardian's address proof | Passport, Voter ID, utility bill, or Aadhaar with current address |
| Passport-size photographs of parent / guardian | For bank / post office records |
| Medical certificate (for multiple births) | Required if opening a third account in case of twins or triplets at second birth |
Who Can Apply
Parents or legal guardians of a girl child below 10 years of age who is an Indian resident citizen.
Need Additional Financing?
An SSY account builds your daughter's corpus over 21 years, but it depends on you being there to fund it every year. A term life insurance plan ensures the deposits continue even if something happens to you. Compare term plans from 20+ insurers on PaisaOne, get a ₹1 crore cover from under ₹500/month.
Important Points & Payment Status Check
How to Check Payment & Beneficiary Status
- 1At a Post Office: Visit your home post office with your SSY passbook to request an update and view current balance
- 2Via Net Banking / Mobile App: Log into your bank's portal and navigate to 'Deposits' or 'Government Schemes' to view balance and transaction history
- 3For Grievances: Contact India Post helpline (1800-11-2011) or Ministry of Finance portal at pgportal.gov.in
State-Wise Implementation
| State | Implementing Body | Application Centre | State-Specific Additions |
|---|---|---|---|
| Uttar Pradesh | All district and sub-district post offices | SBI, PNB, Bank of Baroda, Canara Bank, HDFC, ICICI, Axis + others | Uniform terms and sovereign guarantee apply statewide across all post offices and banks |
| Maharashtra | All district and sub-district post offices | SBI, Bank of Maharashtra, Bank of Baroda, HDFC, ICICI, Axis + others | Uniform terms and sovereign guarantee apply statewide across all post offices and banks |
| West Bengal | All district and sub-district post offices | SBI, UCO Bank, Allahabad Bank, HDFC, ICICI + others | Uniform terms and sovereign guarantee apply statewide across all post offices and banks |
| Bihar | All district and sub-district post offices | SBI, Central Bank of India, Bank of India, PNB + others | Uniform terms and sovereign guarantee apply statewide across all post offices and banks |
| Madhya Pradesh | All district and sub-district post offices | SBI, Bank of India, Central Bank, HDFC, ICICI + others | Uniform terms and sovereign guarantee apply statewide across all post offices and banks |
| Rajasthan | All district and sub-district post offices | SBI, Bank of Baroda, PNB, Axis, HDFC + others | Uniform terms and sovereign guarantee apply statewide across all post offices and banks |
| Tamil Nadu | All district and sub-district post offices | SBI, Indian Bank, Canara Bank, HDFC, ICICI + others | Uniform terms and sovereign guarantee apply statewide across all post offices and banks |
| Karnataka | All district and sub-district post offices | SBI, Canara Bank, Syndicate Bank, HDFC, ICICI + others | Uniform terms and sovereign guarantee apply statewide across all post offices and banks |
| Gujarat | All district and sub-district post offices | SBI, Bank of Baroda, Dena Bank, HDFC, ICICI, Axis + others | Uniform terms and sovereign guarantee apply statewide across all post offices and banks |
| Andhra Pradesh | All district and sub-district post offices | SBI, Andhra Bank, Indian Bank, HDFC, ICICI + others | Uniform terms and sovereign guarantee apply statewide across all post offices and banks |
