Parents often prioritize securing their daughters’ future by planning for higher education, marriage, or other major milestones. To support this, the government of india launched the Sukanya Samriddhi Yojana (SSY), a small savings scheme under the Beti Bachao, Beti Padhao initiative, designed to build a substantial financial corpus for a girl child.
What is sukanya Samriddhi Yojana?
The SSY is a government-backed savings scheme specifically for girl children, offering high interest rates and tax benefits. parents or legal guardians can open an account in the name of their daughter to accumulate funds for future needs like education and marriage.
How Many Daughters Can Benefit Under This Scheme?
One of the most frequently asked questions about the SSY is: “How many daughters can have an account under this scheme?”
According to the official guidelines:
- Parents or legal guardians can open a maximum of two accounts, one for each daughter.
- However, there is an exception in the case of twin or triplet girl births.
- If a parent has a single daughter and then twins are born, accounts can be opened for all three daughters.
- Similarly, if triplets are born first, accounts can be opened for all three.
This ensures that families with multiple daughters, especially in the case of twins or triplets, are not deprived of benefits.
Key Rules of the Scheme
- Eligibility: Account must be opened before the girl turns 10 years old.
- Deposit Limit: Minimum deposit is ₹250 per year, while the maximum is ₹1.5 lakh per year (across all SSY accounts of a family).
- Maturity Period: The scheme matures after 21 years from the date of opening or upon the girl’s marriage after she turns 18.
- Lock-in Period: Partial withdrawal of up to 50% of the balance is allowed after the girl turns 18 years, for education purposes.
- Account Operation: Until the girl reaches 18 years, the parent/guardian operates the account. After that, she can manage it herself.
Interest Rate and Returns
The sukanya Samriddhi Yojana offers an attractive interest rate of 8.2% (as of 2025), which is higher than most other small savings schemes. The interest is compounded annually, ensuring higher returns over time. For example, regular contributions over 15 years can create a substantial fund for the girl’s higher education or marriage.
Tax Benefits
SSY falls under the EEE (Exempt-Exempt-Exempt) category:
Deposits qualify for tax deduction under Section 80C of the Income Tax Act.
Interest earned is tax-free.
The maturity amount is also tax-free.
Why Choose SSY?
With a high interest rate, government security, and long-term benefits, SSY is one of the safest and most rewarding schemes for securing a girl child’s future. parents can open an account at any post office or authorized bank branch.
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